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 Tuesday . The stock had previously closed at $82.52, but opened at $88.17. ACM Research shares last traded at $88.9540, with a volume of 97,610 shares traded.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACMR. Weiss Ratings upgraded ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Seaport Research Partners initiated coverage on ACM Research in a research report on Monday, May 4th. They issued a “buy” rating and a $75.00 target price on the stock. Roth Capital set a $125.00 target price on ACM Research and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley reissued an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded shares of ACM Research from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, ACM Research currently has an average rating of “Moderate Buy” and an average price target of $127.50.

ACM Research Stock Up 11.0%

The firm’s fifty day moving average price is $89.95 and its 200-day moving average price is $65.41. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 69.87 and a beta of 1.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 2.52.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The company had revenue of $231.26 million for the quarter, compared to the consensus estimate of $215.69 million. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.ACM Research’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Sell-side analysts expect that ACM Research, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Sotheara Cheav sold 5,399 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $83.18, for a total value of $449,088.82. Following the completion of the transaction, the insider owned 100,002 shares in the company, valued at $8,318,166.36. This trade represents a 5.12% decrease in their position. The sale 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 stock was sold at an average price of $66.22, for a total transaction of $331,100.00. Following the sale, the director owned 5,000 shares in the company, valued at approximately $331,100. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 123,752 shares of company stock valued at $10,752,198. 24.36% of the stock is currently owned by corporate insiders.

Institutional Trading of ACM Research

Several institutional investors have recently modified their holdings of ACMR. Farther Finance Advisors LLC lifted its holdings in ACM Research by 90.1% during the 4th quarter. Farther Finance Advisors LLC now owns 650 shares of the specialty retailer’s stock worth $26,000 after buying an additional 308 shares during the period. Hantz Financial Services Inc. raised its position in shares of ACM Research by 266.7% during the fourth quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of ACM Research in the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its holdings in ACM Research by 656.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 1,122 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in ACM Research by 38.8% during the 4th quarter. GAMMA Investing LLC now owns 1,070 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 299 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.