ACM Research (NASDAQ:ACMR) Shares Gap Up – What’s Next?

ACM Research, Inc. (NASDAQ:ACMR) shares gapped up prior to trading on Friday . The stock had previously closed at $18.90, but opened at $21.70. ACM Research shares last traded at $21.52, with a volume of 2,160,890 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACMR. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of ACM Research in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of ACM Research in a research note on Tuesday, October 1st. Finally, Roth Mkm lowered their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

ACM Research Price Performance

The firm has a market capitalization of $1.26 billion, a P/E ratio of 16.70 and a beta of 1.52. The business has a fifty day moving average of $17.99 and a 200-day moving average of $22.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The company had revenue of $202.50 million during the quarter, compared to analyst estimates of $163.05 million. During the same period in the prior year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. On average, sell-side analysts forecast that ACM Research, Inc. will post 0.92 EPS for the current fiscal year.

Insider Transactions at ACM Research

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the transaction, the insider now owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the sale, the insider now directly owns 3,403,906 shares of the company’s stock, valued at $68,112,159.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total transaction of $167,657.76. Following the completion of the transaction, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 31.24% of the company’s stock.

Institutional Trading of ACM Research

A number of institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd grew its stake in shares of ACM Research by 16.5% in the 4th quarter. Point72 Hong Kong Ltd now owns 496,494 shares of the specialty retailer’s stock valued at $9,701,000 after buying an additional 70,227 shares in the last quarter. Prelude Capital Management LLC acquired a new stake in ACM Research in the 4th quarter worth approximately $8,640,000. Transcendent Capital Group LLC bought a new stake in ACM Research during the fourth quarter worth approximately $145,000. Los Angeles Capital Management LLC bought a new stake in ACM Research during the first quarter worth approximately $852,000. Finally, Westend Capital Management LLC acquired a new position in ACM Research during the first quarter valued at approximately $4,802,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Company Profile

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.