ACM Research (NASDAQ:ACMR) Share Price Passes Above 200 Day Moving Average of $22.47

ACM Research, Inc. (NASDAQ:ACMRGet Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.47 and traded as high as $23.49. ACM Research shares last traded at $22.28, with a volume of 809,164 shares.

Analysts Set New Price Targets

A number of brokerages have commented on ACMR. The Goldman Sachs Group raised ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of ACM Research in a report on Thursday, May 9th. Finally, Benchmark increased their target price on ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.88.

View Our Latest Analysis on ACMR

ACM Research Stock Up 1.3 %

The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $27.24 and a 200-day moving average price of $22.52. The firm has a market capitalization of $1.29 billion, a PE ratio of 17.09 and a beta of 1.42.

ACM Research (NASDAQ:ACMRGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.27. The business had revenue of $170.30 million during the quarter, compared to analyst estimates of $149.54 million. ACM Research had a return on equity of 10.26% and a net margin of 13.79%. The business’s revenue was up 57.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Equities research analysts forecast that ACM Research, Inc. will post 1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tracy Liu sold 12,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total value of $315,000.00. Following the completion of the transaction, the director now directly owns 110,772 shares in the company, valued at $2,791,454.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Tracy Liu sold 12,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total value of $315,000.00. Following the completion of the transaction, the director now directly owns 110,772 shares in the company, valued at $2,791,454.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sotheara Cheav sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total value of $145,450.00. Following the completion of the transaction, the insider now owns 105,002 shares of the company’s stock, valued at $3,054,508.18. The disclosure for this sale can be found here. Insiders sold 254,434 shares of company stock worth $6,771,672 over the last ninety days. Corporate insiders own 31.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACMR. Vanguard Group Inc. raised its stake in shares of ACM Research by 10.9% in the third quarter. Vanguard Group Inc. now owns 4,082,835 shares of the specialty retailer’s stock valued at $73,920,000 after acquiring an additional 399,854 shares in the last quarter. Ariose Capital Management Ltd raised its stake in ACM Research by 163.8% in the fourth quarter. Ariose Capital Management Ltd now owns 1,980,671 shares of the specialty retailer’s stock valued at $38,702,000 after buying an additional 1,229,839 shares in the last quarter. Pertento Partners LLP raised its stake in ACM Research by 3.4% in the third quarter. Pertento Partners LLP now owns 1,195,464 shares of the specialty retailer’s stock valued at $21,644,000 after buying an additional 39,207 shares in the last quarter. Panview Asian Equity Master Fund raised its stake in ACM Research by 264.7% in the fourth quarter. Panview Asian Equity Master Fund now owns 1,057,753 shares of the specialty retailer’s stock valued at $20,668,000 after buying an additional 767,753 shares in the last quarter. Finally, Steamboat Capital Partners LLC acquired a new stake in ACM Research in the first quarter valued at $20,398,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

ACM Research Company Profile

(Get Free Report)

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.

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