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

ACM Research, Inc. (NASDAQ:ACMR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $65.30, but opened at $72.84. ACM Research shares last traded at $75.4760, with a volume of 199,136 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACMR. Wall Street Zen raised shares of ACM Research from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Capital set a $125.00 price target on ACM Research and gave the company a “buy” rating in a report on Wednesday, June 17th. Zacks Research downgraded ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Seaport Research Partners initiated coverage on ACM Research in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $130.00 price objective (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.50.

ACM Research Stock Up 18.0%

The company has a current ratio of 3.51, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.72 billion, a P/E ratio of 58.71 and a beta of 1.90. The company’s 50 day moving average price is $92.32 and its two-hundred day moving average price is $67.26.

ACM Research (NASDAQ:ACMR) last announced its earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The company had revenue of $231.26 million during the quarter, compared to analyst estimates of $215.69 million. During the same period in the previous year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities analysts forecast that ACM Research, Inc. will post 1.02 earnings per share for the current year.

Insider Transactions at ACM Research

In other news, insider David H. Wang sold 60,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $90.05, for a total value of $5,403,000.00. Following the completion of the sale, the insider directly owned 802,708 shares in the company, valued at $72,283,855.40. This represents a 6.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total value of $331,100.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $331,100. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 123,752 shares of company stock worth $10,752,198 in the last 90 days. 24.36% of the stock is currently owned by insiders.

Institutional Trading of ACM Research

Several hedge funds have recently bought and sold shares of ACMR. Contravisory Investment Management Inc. increased its position in ACM Research by 2.3% in the second quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the specialty retailer’s stock worth $662,000 after buying an additional 115 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of ACM Research by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,764 shares of the specialty retailer’s stock valued at $306,000 after buying an additional 168 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ACM Research by 14.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer’s stock valued at $183,000 after buying an additional 182 shares in the last quarter. MML Investors Services LLC grew its stake in shares of ACM Research by 1.0% during the 4th quarter. MML Investors Services LLC now owns 22,851 shares of the specialty retailer’s stock valued at $901,000 after acquiring an additional 217 shares during the period. Finally, First Growth Capital LLC grew its stake in shares of ACM Research by 5.4% during the 1st quarter. First Growth Capital LLC now owns 5,598 shares of the specialty retailer’s stock valued at $226,000 after acquiring an additional 285 shares during the period. Institutional investors own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.