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

ACM Research, Inc. (NASDAQ:ACMR) gapped up before the market opened on Wednesday . The stock had previously closed at $66.45, but opened at $69.35. ACM Research shares last traded at $67.7510, with a volume of 338,611 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on ACMR. Seaport Research Partners began coverage on shares of ACM Research in a report on Monday, May 4th. They set a “buy” rating and a $75.00 price objective on the stock. Zacks Research lowered shares of ACM Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings upgraded shares of ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, ACM Research has an average rating of “Hold” and a consensus price target of $40.00.

ACM Research Stock Down 0.0%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.51. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 54.65 and a beta of 1.82. The stock’s fifty day moving average is $50.97 and its two-hundred day moving average is $47.93.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $215.69 million. During the same quarter in the prior year, the business posted $0.46 EPS. The firm’s revenue was up 34.2% compared to the same quarter last year. Sell-side analysts predict that ACM Research, Inc. will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACM Research news, Director Charles C. Pappis sold 5,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.00, for a total value of $260,000.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at approximately $260,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Haiping Dun sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total transaction of $331,100.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at $331,100. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 70,000 shares of company stock valued at $3,441,850. Corporate insiders own 25.00% of the company’s stock.

Institutional Investors Weigh In On ACM Research

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of ACM Research by 33.4% during the 1st quarter. Bank of America Corp DE now owns 402,412 shares of the specialty retailer’s stock valued at $15,835,000 after acquiring an additional 100,700 shares during the period. California State Teachers Retirement System grew its position in shares of ACM Research by 32.4% during the 1st quarter. California State Teachers Retirement System now owns 63,131 shares of the specialty retailer’s stock valued at $2,484,000 after acquiring an additional 15,460 shares during the period. Royal Bank of Canada grew its position in shares of ACM Research by 26.0% during the 1st quarter. Royal Bank of Canada now owns 4,118 shares of the specialty retailer’s stock valued at $162,000 after acquiring an additional 849 shares during the period. Lazard Asset Management LLC bought a new position in shares of ACM Research during the 1st quarter valued at approximately $1,693,000. Finally, Cypress Capital Group bought a new position in ACM Research in the 1st quarter worth approximately $623,000. 66.75% of the stock is owned by institutional investors.

ACM Research Company Profile

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.