Needham & Company LLC Reiterates “Buy” Rating for ACM Research (NASDAQ:ACMR)

ACM Research (NASDAQ:ACMR)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $34.00 target price on the specialty retailer’s stock. Needham & Company LLC’s price objective suggests a potential upside of 31.12% from the stock’s previous close.

ACMR has been the subject of a number of other reports. Roth Mkm upped their price target on ACM Research from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. The Goldman Sachs Group upgraded shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Thursday, February 29th. Finally, Benchmark boosted their price target on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ACM Research has a consensus rating of “Buy” and a consensus price target of $31.88.

ACM Research Stock Up 1.4 %

Shares of NASDAQ:ACMR opened at $25.93 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.35 and a quick ratio of 1.26. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 21.85 and a beta of 1.42. The company has a 50 day moving average of $28.79 and a 200-day moving average of $21.91. ACM Research has a one year low of $9.10 and a one year high of $34.40.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 EPS for the quarter, beating the consensus estimate of $0.16 by $0.27. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The company had revenue of $170.30 million during the quarter, compared to analysts’ expectations of $149.54 million. During the same quarter in the previous year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 57.0% compared to the same quarter last year. On average, sell-side analysts forecast that ACM Research will post 1.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Lisa Feng sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total value of $189,000.00. Following the completion of the transaction, the insider now owns 50,001 shares in the company, valued at $1,260,025.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Lisa Feng sold 7,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total value of $189,000.00. Following the sale, the insider now directly owns 50,001 shares in the company, valued at $1,260,025.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tracy Liu sold 12,500 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total value of $315,000.00. Following the transaction, the director now directly owns 110,772 shares of the company’s stock, valued at $2,791,454.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,434 shares of company stock worth $4,375,572. Company insiders own 33.63% of the company’s stock.

Hedge Funds Weigh In On ACM Research

Several hedge funds have recently made changes to their positions in ACMR. Spire Wealth Management acquired a new position in ACM Research during the third quarter worth $27,000. Federated Hermes Inc. bought a new stake in ACM Research during the 3rd quarter worth about $46,000. Headlands Technologies LLC acquired a new position in shares of ACM Research during the 4th quarter worth about $66,000. DekaBank Deutsche Girozentrale bought a new position in shares of ACM Research in the 3rd quarter valued at about $68,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of ACM Research in the fourth quarter valued at about $145,000. 66.75% of the stock is owned by institutional investors.

About ACM Research

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.