ACM Research (NASDAQ:ACMR) Hits New 12-Month High – Here’s Why

ACM Research, Inc. (NASDAQ:ACMR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $71.65 and last traded at $71.60, with a volume of 1586051 shares traded. The stock had previously closed at $66.45.

Wall Street Analysts Forecast Growth

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

ACM Research Stock Performance

The business has a 50 day moving average of $51.48 and a 200 day moving average of $48.11. The company has a market capitalization of $4.49 billion, a P/E ratio of 55.99 and a beta of 1.82. The company has a quick ratio of 2.52, a current ratio of 3.51 and a debt-to-equity ratio of 0.11.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Thursday, May 7th. The specialty retailer reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.The company had revenue of $231.26 million during the quarter, compared to analyst estimates of $215.69 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts predict that ACM Research, Inc. will post 1.2 earnings per share for the current year.

Insider Activity at ACM Research

In related news, Director Charles C. Pappis sold 5,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.00, for a total transaction of $260,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tracy Liu sold 45,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $47.38, for a total value of $2,132,100.00. Following the transaction, the director directly owned 110,772 shares of the company’s stock, valued at approximately $5,248,377.36. The trade was a 28.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 70,000 shares of company stock valued at $3,441,850. Insiders own 25.00% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of ACM Research by 396.3% in the 3rd quarter. Principal Financial Group Inc. now owns 336,993 shares of the specialty retailer’s stock valued at $13,187,000 after purchasing an additional 269,094 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of ACM Research in the 3rd quarter valued at approximately $2,054,000. Vanguard Group Inc. lifted its stake in shares of ACM Research by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 4,972,103 shares of the specialty retailer’s stock valued at $196,149,000 after purchasing an additional 125,690 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of ACM Research in the 3rd quarter valued at approximately $989,000. Finally, Public Sector Pension Investment Board bought a new stake in shares of ACM Research in the 3rd quarter valued at approximately $8,026,000. 66.75% of the stock is owned by institutional investors.

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.