ACM Research (NASDAQ:ACMR) Stock Passes Above 200-Day Moving Average – What’s Next?

ACM Research, Inc. (NASDAQ:ACMR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $72.00 and traded as high as $73.40. ACM Research shares last traded at $72.77, with a volume of 1,509,121 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on ACMR shares. Morgan Stanley restated an “overweight” rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. Craig Hallum reiterated a “buy” rating and set a $100.00 price objective on shares of ACM Research in a research report on Monday, August 10th. Roth Capital set a $125.00 target price on shares of ACM Research and gave the stock a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings upgraded shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded ACM Research from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $122.75.

ACM Research Trading Up 6.4%

The stock has a 50-day simple moving average of $77.68 and a two-hundred day simple moving average of $72.17. The firm has a market capitalization of $5.22 billion, a P/E ratio of 38.41 and a beta of 1.96. 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 (NASDAQ:ACMR) last issued its earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.19. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The company had revenue of $292.92 million for the quarter, compared to analysts’ expectations of $269.28 million. During the same period in the prior year, the business earned $0.54 EPS. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities research analysts anticipate that ACM Research, Inc. will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Haiping Dun sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total transaction of $405,650.00. Following the completion of the sale, the director directly owned 5,000 shares in the company, valued at $405,650. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David H. Wang sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total value of $5,221,300.00. Following the sale, the insider directly owned 802,708 shares in the company, valued at approximately $59,873,989.72. The trade was a 8.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 24.36% of the company’s stock.

Institutional Trading of ACM Research

Hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. grew its position in shares of ACM Research by 266.7% in the 4th quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock worth $26,000 after buying an additional 480 shares during the last quarter. Leonteq Securities AG purchased a new stake in ACM Research during the fourth quarter valued at approximately $28,000. NewEdge Advisors LLC lifted its position in ACM Research by 381.0% during the first quarter. NewEdge Advisors LLC now owns 1,087 shares of the specialty retailer’s stock valued at $43,000 after acquiring an additional 861 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in ACM Research in the first quarter worth $80,000. Finally, Global Retirement Partners LLC grew its holdings in ACM Research by 76,500.0% in the fourth quarter. Global Retirement Partners LLC now owns 2,298 shares of the specialty retailer’s stock worth $91,000 after purchasing an additional 2,295 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

About ACM Research

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor manufacturing and advanced packaging. Its products are designed for wafer processing steps that help semiconductor manufacturers clean, prepare and deposit materials on silicon wafers and other substrates.

The company’s product portfolio includes single-wafer cleaning systems, wet-processing equipment, electrochemical deposition systems, furnace systems and equipment for advanced packaging applications. Its cleaning technologies include the Space Alternated Phase Shift (SAPS) and Tahoe platforms, which are intended to remove contaminants and residues while supporting the production of increasingly complex semiconductor devices.

Founded in 1998, ACM Research is headquartered in Fremont, California, and serves semiconductor manufacturers and other customers through operations and facilities in the United States, China and other international markets.