ACM Research (NASDAQ:ACMR) Shares Gap Up – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $98.07, but opened at $107.00. ACM Research shares last traded at $107.3840, with a volume of 262,304 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Seaport Research Partners started coverage on ACM Research in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 target price on the stock. Roth Capital set a $125.00 price target on ACM Research and gave the stock a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings raised ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Wall Street Zen upgraded ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research downgraded ACM Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.50.

ACM Research Trading Up 10.1%

The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 82.49 and a beta of 1.90. The business has a fifty day moving average of $83.89 and a two-hundred day moving average of $62.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.51.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. The firm had revenue of $231.26 million during the quarter, compared to analysts’ expectations of $215.69 million. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.ACM Research’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, equities analysts expect that ACM Research, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Charles C. Pappis sold 5,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.00, for a total value of $260,000.00. Following the sale, the director directly owned 5,000 shares in the company, valued at $260,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David H. Wang sold 60,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $90.05, for a total value of $5,403,000.00. Following the sale, the insider directly owned 802,708 shares in the company, valued at approximately $72,283,855.40. The trade was a 6.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 128,752 shares of company stock valued at $11,012,198. 24.36% of the stock is owned by insiders.

Institutional Investors Weigh In On ACM Research

Several hedge funds have recently modified their holdings of ACMR. WCM Investment Management LLC raised its position in shares of ACM Research by 16,878.8% in the first quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock valued at $70,583,000 after buying an additional 1,849,914 shares during the last quarter. Invesco Ltd. boosted its position in ACM Research by 444.5% during the fourth quarter. Invesco Ltd. now owns 1,342,136 shares of the specialty retailer’s stock worth $52,947,000 after acquiring an additional 1,095,634 shares during the last quarter. Janus Henderson Group PLC grew its stake in ACM Research by 1,406.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,082,982 shares of the specialty retailer’s stock worth $42,740,000 after acquiring an additional 1,011,088 shares during the period. Morgan Stanley raised its holdings in ACM Research by 58.8% in the 4th quarter. Morgan Stanley now owns 1,392,306 shares of the specialty retailer’s stock valued at $54,926,000 after acquiring an additional 515,340 shares during the last quarter. Finally, Cederberg Capital Ltd acquired a new position in ACM Research in the 3rd quarter valued at $19,428,000. 66.75% of the stock is owned by institutional investors and hedge funds.

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.