ACM Research (NASDAQ:ACMR) Raised to Strong-Buy at Zacks Research

ACM Research (NASDAQ:ACMR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

ACMR has been the topic of several other reports. Wall Street Zen upgraded ACM Research from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Seaport Research Partners started coverage on ACM Research in a research report on Monday, May 4th. They issued a “buy” rating and a $75.00 target price for the company. Roth Capital set a $125.00 target price on ACM Research and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Finally, Weiss Ratings upgraded shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, ACM Research presently has an average rating of “Buy” and a consensus price target of $118.33.

ACM Research Price Performance

ACMR stock opened at $84.37 on Monday. The firm has a 50 day moving average of $91.71 and a 200-day moving average of $70.06. The company has a current ratio of 3.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.08. ACM Research has a 12 month low of $24.14 and a 12 month high of $127.19. The firm has a market capitalization of $5.46 billion, a P/E ratio of 40.18 and a beta of 1.96.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The company had revenue of $292.92 million during the quarter, compared to analyst estimates of $269.28 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. As a group, sell-side analysts predict that ACM Research will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ACM Research news, insider Sotheara Cheav sold 13,351 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $85.15, for a total value of $1,136,837.65. Following the sale, the insider owned 100,002 shares in the company, valued at approximately $8,515,170.30. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David H. Wang sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $90.05, for a total value of $5,403,000.00. Following the completion of the sale, the insider owned 802,708 shares in the company, valued at $72,283,855.40. The trade was a 6.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 118,752 shares of company stock worth $10,421,098 in the last quarter. Company insiders own 24.36% of the company’s stock.

Hedge Funds Weigh In On ACM Research

Hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ACM Research by 10.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,061 shares of the specialty retailer’s stock worth $748,000 after purchasing an additional 3,065 shares during the period. Caxton Associates LLP purchased a new stake in ACM Research during the first quarter valued at approximately $250,000. Strs Ohio purchased a new stake in shares of ACM Research in the 1st quarter worth $133,000. Creative Planning bought a new position in shares of ACM Research in the second quarter worth about $212,000. Finally, Norges Bank bought a new stake in ACM Research during the 2nd quarter worth approximately $739,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

About ACM Research

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.