ACM Research (NASDAQ:ACMR) Shares Gap Up to $20.60

ACM Research, Inc. (NASDAQ:ACMRGet Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $20.60, but opened at $21.38. ACM Research shares last traded at $21.77, with a volume of 139,397 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ACMR shares. The Goldman Sachs Group raised ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, February 29th. Benchmark lifted their price objective on ACM Research from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of ACM Research in a report on Thursday, May 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $31.88.

Get Our Latest Stock Analysis on ACM Research

ACM Research Stock Down 0.9 %

The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.30 billion, a PE ratio of 17.23 and a beta of 1.44. The stock has a fifty day simple moving average of $25.97 and a two-hundred day simple moving average of $22.83.

ACM Research (NASDAQ:ACMRGet Free Report) last posted its earnings results on Wednesday, May 8th. The specialty retailer reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $152.19 million during the quarter, compared to analyst estimates of $151.00 million. ACM Research had a return on equity of 10.26% and a net margin of 13.79%. As a group, sell-side analysts expect that ACM Research, Inc. will post 1 EPS for the current fiscal year.

Insider Activity

In other news, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction dated 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 completion of the sale, the insider now owns 590,108 shares in the company, valued at approximately $13,460,363.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Sotheara Cheav sold 5,000 shares of ACM Research stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total transaction of $145,450.00. Following the completion of the sale, the insider now owns 105,002 shares in the company, valued at approximately $3,054,508.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.81, for a total value of $2,052,900.00. Following the sale, the insider now owns 590,108 shares of the company’s stock, valued at approximately $13,460,363.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 234,763 shares of company stock worth $5,462,606. 31.24% of the stock is currently owned by insiders.

Institutional Trading of ACM Research

A number of hedge funds have recently bought and sold shares of ACMR. Spire Wealth Management bought a new stake in ACM Research in the 3rd quarter worth approximately $27,000. Charles Schwab Investment Management Inc. lifted its position in ACM Research by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 356,683 shares of the specialty retailer’s stock worth $6,458,000 after buying an additional 30,424 shares during the last quarter. HighTower Advisors LLC bought a new stake in ACM Research in the 3rd quarter worth approximately $1,091,000. State Board of Administration of Florida Retirement System lifted its position in ACM Research by 104.4% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 27,916 shares of the specialty retailer’s stock worth $505,000 after buying an additional 14,256 shares during the last quarter. Finally, UBS Group AG lifted its position in ACM Research by 3.9% in the 3rd quarter. UBS Group AG now owns 525,322 shares of the specialty retailer’s stock worth $9,511,000 after buying an additional 19,871 shares during the last quarter. Institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

(Get Free Report)

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.

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