ACM Research (NASDAQ:ACMR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of ACM Research (NASDAQ:ACMR) in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $25.00 target price on the specialty retailer’s stock.

ACMR has been the topic of several other research reports. Roth Mkm reduced their price target on shares of ACM Research from $40.00 to $30.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Benchmark restated a buy rating and set a $38.00 price objective on shares of ACM Research in a research note on Wednesday, August 7th.

ACM Research Stock Performance

NASDAQ:ACMR opened at $22.04 on Tuesday. The firm has a 50-day moving average of $17.99 and a two-hundred day moving average of $22.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.29 and a quick ratio of 1.26. The stock has a market cap of $1.26 billion, a P/E ratio of 16.70 and a beta of 1.52. ACM Research has a 1-year low of $12.53 and a 1-year high of $34.40.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. The firm had revenue of $202.50 million during the quarter, compared to analyst estimates of $163.05 million. ACM Research had a return on equity of 9.16% and a net margin of 12.26%. ACM Research’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. On average, research analysts expect that ACM Research will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at ACM Research

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total transaction of $526,263.00. Following the sale, the insider now directly owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the transaction, the insider now owns 3,403,906 shares of the company’s stock, valued at approximately $68,112,159.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Xiao Xing sold 8,304 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total transaction of $167,657.76. Following the completion of the sale, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 31.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACM Research

Hedge funds have recently made changes to their positions in the business. Cim LLC increased its position in ACM Research by 8.6% in the 2nd quarter. Cim LLC now owns 16,788 shares of the specialty retailer’s stock valued at $387,000 after acquiring an additional 1,326 shares during the period. Connective Capital Management LLC bought a new position in shares of ACM Research in the second quarter worth $323,000. Algert Global LLC increased its holdings in shares of ACM Research by 29.7% during the second quarter. Algert Global LLC now owns 28,215 shares of the specialty retailer’s stock valued at $651,000 after purchasing an additional 6,465 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of ACM Research by 7.6% during the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the specialty retailer’s stock valued at $449,000 after purchasing an additional 1,382 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings 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 period. 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.