ACM Research (NASDAQ:ACMR) Shares Gap Up – Here’s Why

Shares of ACM Research, Inc. (NASDAQ:ACMR) gapped up prior to trading 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 traded.

Wall Street Analyst Weigh In

ACMR has been the subject of a number of research analyst reports. Craig Hallum lowered ACM Research from a “buy” rating to a “hold” rating and reduced their target price for the stock from $30.00 to $18.00 in a research note on Thursday, December 5th. Needham & Company LLC lowered 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

ACM Research Price Performance

The firm has a 50-day simple moving average of $16.38 and a two-hundred day simple moving average of $18.02. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 15.68 and a beta of 1.48. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

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

Insider Activity

In related news, Director Haiping Dun sold 15,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $19.12, for a total transaction of $286,800.00. Following the completion of the transaction, the director now owns 774,148 shares in the company, valued at approximately $14,801,709.76. The trade was a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 654,256 shares of the company’s stock, valued at approximately $11,704,639.84. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,500 shares of company stock worth $2,366,363 in the last ninety days. Company 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 ACMR. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ACM Research during the fourth quarter worth $33,000. Erste Asset Management GmbH acquired a new position in shares of ACM Research during the third quarter worth $37,000. Truvestments Capital LLC acquired a new position in shares of ACM Research during the third quarter worth $72,000. CWM LLC lifted its position in ACM Research by 128.4% in the third quarter. CWM LLC now owns 4,408 shares of the specialty retailer’s stock valued at $89,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in ACM Research in the second quarter valued at $202,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

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.