ACM Research (NASDAQ:ACMR) Raised to Hold at Zacks Research

ACM Research (NASDAQ:ACMR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Roth Capital reaffirmed a “buy” rating and set a $40.00 price target on shares of ACM Research in a report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of ACM Research in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, ACM Research has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

ACM Research Trading Up 4.2%

NASDAQ:ACMR opened at $46.90 on Monday. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 27.27 and a beta of 1.46. The company has a quick ratio of 2.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average price is $36.57 and its 200-day moving average price is $33.41. ACM Research has a 52 week low of $14.97 and a 52 week high of $47.86.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). ACM Research had a return on equity of 7.11% and a net margin of 13.30%.The firm had revenue of $269.16 million during the quarter, compared to analysts’ expectations of $251.72 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. ACM Research’s revenue was up 32.0% on a year-over-year basis. On average, equities research analysts forecast that ACM Research will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Fuping Chen sold 20,000 shares of ACM Research stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $33.06, for a total value of $661,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David H. Wang sold 60,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $34.12, for a total value of $2,047,200.00. Following the completion of the transaction, the insider directly owned 802,708 shares in the company, valued at approximately $27,388,396.96. This represents a 6.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 265,000 shares of company stock valued at $8,849,150 over the last 90 days. Company insiders own 25.00% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management increased its holdings in ACM Research by 462.9% during the third quarter. LSV Asset Management now owns 2,504,305 shares of the specialty retailer’s stock valued at $97,993,000 after buying an additional 2,059,405 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of ACM Research by 39.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,302,351 shares of the specialty retailer’s stock valued at $59,631,000 after acquiring an additional 649,116 shares during the period. Vanguard Group Inc. grew its position in shares of ACM Research by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,846,413 shares of the specialty retailer’s stock valued at $189,640,000 after acquiring an additional 549,971 shares during the period. Cederberg Capital Ltd purchased a new stake in shares of ACM Research in the 3rd quarter worth $19,428,000. Finally, Triata Capital Ltd increased its stake in shares of ACM Research by 26.0% in the 3rd quarter. Triata Capital Ltd now owns 2,003,225 shares of the specialty retailer’s stock worth $78,386,000 after purchasing an additional 413,000 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.