ACM Research (NASDAQ:ACMR) Shares Gap Up – Still a Buy?

ACM Research, Inc. (NASDAQ:ACMR)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $15.49, but opened at $16.50. ACM Research shares last traded at $17.78, with a volume of 636,781 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ACMR shares. Needham & Company LLC lowered ACM Research from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Wednesday, December 4th. Craig Hallum cut shares of ACM Research from a “buy” rating to a “hold” rating and reduced their price objective for the company from $30.00 to $18.00 in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.00.

ACM Research Price Performance

The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $16.57 and a 200 day moving average of $18.42. The firm has a market capitalization of $1.03 billion, a PE ratio of 13.55 and a beta of 1.48.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The company had revenue of $204.00 million for the quarter, compared to analyst estimates of $191.18 million. During the same period last year, the firm earned $0.41 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. As a group, research analysts anticipate that ACM Research, Inc. will post 1.12 EPS for the current fiscal year.

Insider Transactions at ACM Research

In other news, insider David H. Wang sold 56,250 shares of ACM Research 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 sale, the insider now directly owns 654,256 shares in the company, valued at $11,704,639.84. The trade was a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Haiping Dun sold 15,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $19.12, for a total transaction of $286,800.00. Following the transaction, the director now owns 774,148 shares of the company’s stock, valued at approximately $14,801,709.76. The trade was a 1.90 % 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 90 days. Insiders own 31.24% of the company’s stock.

Institutional Investors Weigh In On ACM Research

A number of hedge funds have recently modified their holdings of ACMR. Commonwealth Equity Services LLC increased its position in ACM Research by 15.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,628 shares of the specialty retailer’s stock worth $337,000 after buying an additional 1,970 shares during the last quarter. Victory Capital Management Inc. raised its stake in ACM Research by 41.4% in the 2nd quarter. Victory Capital Management Inc. now owns 11,050 shares of the specialty retailer’s stock valued at $255,000 after acquiring an additional 3,236 shares during the period. American Century Companies Inc. boosted its position in ACM Research by 13.9% during the second quarter. American Century Companies Inc. now owns 110,299 shares of the specialty retailer’s stock worth $2,543,000 after purchasing an additional 13,426 shares during the period. Federated Hermes Inc. boosted its position in ACM Research by 453.7% during the second quarter. Federated Hermes Inc. now owns 6,002 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 4,918 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of ACM Research in the second quarter worth about $202,000. 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.