ACM Research (NASDAQ:ACMR) Shares Gap Up to $15.13

ACM Research, Inc. (NASDAQ:ACMR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $15.13, but opened at $18.16. ACM Research shares last traded at $17.20, with a volume of 1,012,858 shares.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of ACM Research in a report on Thursday, May 9th.

ACM Research Stock Up 15.9 %

The firm has a market cap of $999.55 million, a price-to-earnings ratio of 13.03 and a beta of 1.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.31 and a current ratio of 2.31. The business’s 50-day moving average is $21.79 and its 200-day moving average is $23.93.

ACM Research (NASDAQ:ACMR) last announced its earnings results on Wednesday, May 8th. The specialty retailer reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. ACM Research had a return on equity of 10.26% and a net margin of 13.79%. The business had revenue of $152.19 million for the quarter, compared to the consensus estimate of $151.00 million. On average, equities analysts predict that ACM Research, Inc. will post 1 EPS for the current year.

Insider Activity

In related news, insider David H. Wang sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total transaction of $2,052,900.00. Following the transaction, the insider now directly owns 590,108 shares of the company’s stock, valued at approximately $13,460,363.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ACM Research news, insider Jian Wang sold 30,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $22.07, for a total value of $662,100.00. Following the completion of the transaction, the insider now directly owns 253,158 shares in the company, valued at $5,587,197.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total transaction of $2,052,900.00. Following the transaction, the insider now owns 590,108 shares in the company, valued at approximately $13,460,363.48. The disclosure for this sale can be found here. Insiders have sold 240,329 shares of company stock worth $5,440,934 over the last ninety days. 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 modified their holdings of the business. Hussman Strategic Advisors Inc. grew its position in shares of ACM Research by 0.3% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 157,500 shares of the specialty retailer’s stock valued at $4,590,000 after acquiring an additional 500 shares during the period. Swiss National Bank grew its stake in ACM Research by 1.2% in the 1st quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer’s stock worth $2,558,000 after buying an additional 1,000 shares in the last quarter. Trexquant Investment LP increased its stake in ACM Research by 8.1% in the fourth quarter. Trexquant Investment LP now owns 18,543 shares of the specialty retailer’s stock valued at $362,000 after acquiring an additional 1,383 shares during the last quarter. CWM LLC raised its holdings in shares of ACM Research by 297.1% during the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 1,444 shares in the last quarter. Finally, Watershed Asset Management L.L.C. lifted its holdings in shares of ACM Research by 11.0% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,933 shares of the specialty retailer’s stock worth $311,000 after acquiring an additional 1,582 shares during the last quarter. 66.75% of the stock is currently owned by institutional investors.

About ACM Research

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.