Analysts Expect ACM Research, Inc. (NASDAQ:ACMR) Will Post Quarterly Sales of $85.13 Million

Equities analysts expect that ACM Research, Inc. (NASDAQ:ACMR) will report $85.13 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for ACM Research’s earnings, with estimates ranging from $70.00 million to $93.00 million. ACM Research posted sales of $45.56 million during the same quarter last year, which suggests a positive year over year growth rate of 86.9%. The business is scheduled to issue its next earnings results on Thursday, February 24th.

According to Zacks, analysts expect that ACM Research will report full-year sales of $257.30 million for the current fiscal year, with estimates ranging from $257.00 million to $257.60 million. For the next financial year, analysts expect that the firm will report sales of $363.50 million, with estimates ranging from $362.00 million to $365.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow ACM Research.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Thursday, November 4th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.20. The company had revenue of $67.00 million during the quarter, compared to analysts’ expectations of $67.20 million. ACM Research had a net margin of 14.62% and a return on equity of 11.88%. The business’s quarterly revenue was up 40.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share.

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of ACM Research from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 5th. Needham & Company LLC increased their price target on shares of ACM Research from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, January 6th. Zacks Investment Research raised shares of ACM Research from a “hold” rating to a “strong-buy” rating and set a $96.00 price target on the stock in a research note on Friday, January 7th. Benchmark increased their price target on shares of ACM Research from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 5th. Finally, The Goldman Sachs Group cut shares of ACM Research from a “conviction-buy” rating to a “buy” rating in a research note on Sunday, November 21st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $123.20.

In other ACM Research news, insider Mark Mckechnie sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $94.05, for a total value of $470,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 46.02% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. raised its holdings in ACM Research by 50.0% in the second quarter. Citigroup Inc. now owns 333 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 111 shares during the period. SG Americas Securities LLC acquired a new stake in ACM Research in the second quarter worth $122,000. Maverick Capital Ltd. raised its holdings in ACM Research by 21.8% in the third quarter. Maverick Capital Ltd. now owns 1,421 shares of the specialty retailer’s stock worth $156,000 after purchasing an additional 254 shares during the period. Point72 Asset Management L.P. acquired a new stake in ACM Research in the third quarter worth $172,000. Finally, Bank of America Corp DE raised its holdings in ACM Research by 28.1% in the second quarter. Bank of America Corp DE now owns 1,888 shares of the specialty retailer’s stock worth $193,000 after purchasing an additional 414 shares during the period. Institutional investors own 49.86% of the company’s stock.

Shares of ACMR opened at $88.67 on Wednesday. ACM Research has a 52 week low of $60.84 and a 52 week high of $144.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.03 and a current ratio of 1.93. The firm has a market capitalization of $1.57 billion, a P/E ratio of 63.34 and a beta of 0.57. The company has a 50-day simple moving average of $85.67 and a 200-day simple moving average of $92.41.

About ACM Research

ACM Research, Inc engages in the development, manufacture, and sale of single-wafer wet cleaning equipment. It supplies process solutions that semi conductor manufacturers can use in numerous manufacturing steps to remove particles, contaminants and other random defects, and thereby improve product yield.

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