ACM Research (NASDAQ:ACMR) Shares Gap Up – Should You Buy?

Shares of ACM Research, Inc. (NASDAQ:ACMR) gapped up before the market opened on Thursday . The stock had previously closed at $17.48, but opened at $19.53. ACM Research shares last traded at $19.76, with a volume of 1,373,741 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACMR. Needham & Company LLC downgraded shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Wednesday, December 4th. Craig Hallum lowered ACM Research from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.00 to $18.00 in a research note on Thursday, December 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ACM Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

ACM Research Price Performance

The firm has a market capitalization of $1.18 billion, a P/E ratio of 15.57 and a beta of 1.48. The business’s 50-day simple moving average is $16.44 and its 200 day simple moving average is $18.00. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.35. The company had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Sell-side analysts forecast that ACM Research, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at ACM Research

In related news, Director Haiping Dun sold 15,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $19.12, for a total transaction of $286,800.00. Following the transaction, the director now owns 774,148 shares in the company, valued at $14,801,709.76. The trade was a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David H. Wang sold 56,250 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $17.89, for a total transaction of $1,006,312.50. Following the completion of the sale, the insider now owns 654,256 shares of the company’s stock, valued at $11,704,639.84. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,500 shares of company stock worth $2,366,363. Insiders own 31.24% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of institutional investors and hedge funds have recently made changes to their positions in ACMR. Geode Capital Management LLC grew its position in ACM Research by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer’s stock worth $23,973,000 after purchasing an additional 26,620 shares during the period. Millennium Management LLC increased its position in ACM Research by 283.9% in the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after purchasing an additional 683,361 shares during the last quarter. Portolan Capital Management LLC increased its position in shares of ACM Research by 7.7% during the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after purchasing an additional 65,616 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in ACM Research by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock worth $8,239,000 after purchasing an additional 13,879 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in ACM Research in the 4th quarter valued at $5,782,000. Institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.