ACM Research (NASDAQ:ACMR) Shares Up 7.9% – Time to Buy?

ACM Research, Inc. (NASDAQ:ACMR)’s share price shot up 7.9% on Friday . The company traded as high as $29.94 and last traded at $29.61. 724,760 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,660,756 shares. The stock had previously closed at $27.44.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACMR. Craig Hallum raised shares of ACM Research from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. began coverage on ACM Research in a research note on Friday, February 28th. They issued an “overweight” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.40.

ACM Research Stock Performance

The company’s fifty day moving average is $21.60 and its 200 day moving average is $19.11. The company has a market capitalization of $1.69 billion, a P/E ratio of 22.07 and a beta of 1.61. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

Insider Activity at ACM Research

In related news, insider Sotheara Cheav sold 22,598 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the sale, the insider now directly owns 100,002 shares of the company’s stock, valued at $2,300,046. This represents a 18.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David H. Wang sold 37,500 shares of ACM Research stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $27.30, for a total value of $1,023,750.00. Following the completion of the transaction, the insider now directly owns 672,708 shares of the company’s stock, valued at approximately $18,364,928.40. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,348 shares of company stock worth $3,038,067 over the last quarter. 31.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACM Research

A number of institutional investors have recently bought and sold shares of ACMR. Erste Asset Management GmbH purchased a new position in shares of ACM Research during the third quarter valued at about $37,000. Tower Research Capital LLC TRC boosted its stake in ACM Research by 506.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 1,685 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in ACM Research during the 4th quarter valued at approximately $33,000. Picton Mahoney Asset Management increased its stake in ACM Research by 66.2% in the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock worth $47,000 after acquiring an additional 1,236 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of ACM Research during the 3rd quarter worth approximately $72,000. Hedge funds and other 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.