ACM Research (NASDAQ:ACMR) Shares Gap Up to $31.21

ACM Research, Inc. (NASDAQ:ACMR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $31.21, but opened at $32.25. ACM Research shares last traded at $32.35, with a volume of 275,861 shares changing hands.

Analyst Ratings Changes

ACMR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Thursday, February 29th. Benchmark upped their price objective on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Needham & Company LLC upped their price objective on shares of ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Roth Mkm upped their price objective on shares of ACM Research from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ACM Research presently has an average rating of “Buy” and a consensus price target of $31.88.

ACM Research Trading Up 5.8 %

The company has a market capitalization of $1.85 billion, a P/E ratio of 28.27 and a beta of 1.39. The stock’s 50 day moving average is $24.46 and its 200-day moving average is $20.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.35 and a quick ratio of 1.26.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.27. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The firm had revenue of $170.30 million for the quarter, compared to analysts’ expectations of $149.54 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 57.0% on a year-over-year basis. As a group, equities research analysts anticipate that ACM Research, Inc. will post 1.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Sotheara Cheav sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $29.09, for a total value of $145,450.00. Following the sale, the insider now owns 105,002 shares in the company, valued at $3,054,508.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Haiping Dun sold 15,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.36, for a total value of $455,400.00. Following the completion of the sale, the director now directly owns 874,524 shares of the company’s stock, valued at $26,550,548.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sotheara Cheav sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total transaction of $145,450.00. Following the completion of the sale, the insider now directly owns 105,002 shares of the company’s stock, valued at $3,054,508.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,434 shares of company stock worth $4,595,572. Company insiders own 33.63% of the company’s stock.

Institutional Trading of ACM Research

Hedge funds have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in ACM Research in the fourth quarter worth about $145,000. Price T Rowe Associates Inc. MD raised its holdings in ACM Research by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,402 shares of the specialty retailer’s stock worth $575,000 after purchasing an additional 1,387 shares in the last quarter. Legal & General Group Plc raised its holdings in ACM Research by 3.4% in the fourth quarter. Legal & General Group Plc now owns 39,670 shares of the specialty retailer’s stock worth $775,000 after purchasing an additional 1,303 shares in the last quarter. Barclays PLC raised its holdings in ACM Research by 71.0% in the fourth quarter. Barclays PLC now owns 144,452 shares of the specialty retailer’s stock worth $2,823,000 after purchasing an additional 59,986 shares in the last quarter. Finally, Oberweis Asset Management Inc. raised its holdings in ACM Research by 15.1% in the fourth quarter. Oberweis Asset Management Inc. now owns 393,400 shares of the specialty retailer’s stock worth $7,687,000 after purchasing an additional 51,600 shares in the last quarter. 66.75% of the stock is owned by hedge funds and other 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.