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

ACM Research, Inc. (NASDAQ:ACMR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $91.18, but opened at $100.28. ACM Research shares last traded at $100.4470, with a volume of 509,472 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ACMR shares. Wall Street Zen upgraded ACM Research from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Seaport Research Partners assumed coverage on ACM Research in a research report on Monday, May 4th. They set a “buy” rating and a $75.00 price objective for the company. Weiss Ratings upgraded ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Roth Mkm set a $125.00 target price on ACM Research and gave the company a “buy” rating in a research note on Wednesday. Finally, Zacks Research lowered ACM Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.00.

ACM Research Price Performance

The company has a market cap of $6.73 billion, a price-to-earnings ratio of 83.87 and a beta of 2.01. The company’s 50 day moving average price is $68.57 and its 200 day moving average price is $55.65. The company has a current ratio of 3.51, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11.

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

Insiders Place Their Bets

In other news, Director Charles C. Pappis sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was 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 $260,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Haiping Dun sold 5,000 shares of ACM Research stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $66.22, for a total value of $331,100.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at approximately $331,100. This trade represents 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 quarter, insiders sold 128,752 shares of company stock valued at $11,012,198. Corporate insiders own 24.36% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of large investors have recently made changes to their positions in ACMR. Jefferies Financial Group Inc. purchased a new stake in ACM Research during the fourth quarter worth $1,054,000. Vanguard Group Inc. raised its stake in shares of ACM Research by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 4,972,103 shares of the specialty retailer’s stock worth $196,149,000 after buying an additional 125,690 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of ACM Research by 71.8% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 188,500 shares of the specialty retailer’s stock worth $7,436,000 after buying an additional 78,800 shares during the last quarter. Yong Rong HK Asset Management Ltd purchased a new stake in shares of ACM Research in the 4th quarter worth about $2,367,000. Finally, RPg Family Wealth Advisory LLC boosted its position in shares of ACM Research by 64.2% in the 3rd quarter. RPg Family Wealth Advisory LLC now owns 156,670 shares of the specialty retailer’s stock worth $6,130,000 after buying an additional 61,249 shares in the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.

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.