Needham & Company LLC Reiterates “Buy” Rating for ACM Research (NASDAQ:ACMR)

Needham & Company LLC reissued their buy rating on shares of ACM Research (NASDAQ:ACMR) in a research note published on Thursday morning, AnalystRatings.com reports. Needham & Company LLC currently has a $20.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts have also issued reports on ACMR. ValuEngine lowered shares of ACM Research from a sell rating to a strong sell rating in a report on Wednesday, October 2nd. Stifel Nicolaus began coverage on shares of ACM Research in a report on Thursday, August 22nd. They set a buy rating and a $22.00 price objective for the company. Finally, Zacks Investment Research raised shares of ACM Research from a hold rating to a buy rating and set a $15.00 price objective for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $20.20.

ACMR traded down $0.03 during trading on Thursday, reaching $14.39. 174,876 shares of the company traded hands, compared to its average volume of 112,415. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.18 and a current ratio of 2.03. ACM Research has a 12-month low of $9.02 and a 12-month high of $21.88. The firm has a fifty day simple moving average of $13.57 and a 200 day simple moving average of $15.98. The company has a market cap of $203.34 million, a P/E ratio of 26.16 and a beta of -0.61.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. ACM Research had a net margin of 13.16% and a return on equity of 26.29%. The business had revenue of $33.43 million during the quarter, compared to analyst estimates of $29.70 million. As a group, sell-side analysts expect that ACM Research will post 0.66 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its holdings in shares of ACM Research by 671.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,920 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 3,412 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of ACM Research in the third quarter valued at $68,000. Granite Point Capital Management L.P. grew its holdings in shares of ACM Research by 219.7% in the third quarter. Granite Point Capital Management L.P. now owns 32,740 shares of the specialty retailer’s stock valued at $454,000 after purchasing an additional 22,500 shares in the last quarter. Bailard Inc. purchased a new position in shares of ACM Research in the third quarter valued at $152,000. Finally, Citadel Advisors LLC purchased a new position in shares of ACM Research in the second quarter valued at $626,000. 12.32% of the stock is owned by hedge funds and other institutional investors.

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 of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces in a uniform manner on a microscopic level; timely energized bubble oscillation cleaning equipment for two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.

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