ACM Research (NASDAQ:ACMR) Shares Climb 6.4% – Should You Buy?

Shares of ACM Research, Inc. (NASDAQ:ACMR) shot up 6.4% during mid-day trading on Wednesday. The stock traded as high as $80.76 and last traded at $80.4660. 711,647 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,376,969 shares. The stock had previously closed at $75.61.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACMR. Roth Capital set a $125.00 price target on ACM Research and gave the company a “buy” rating in a research report on Wednesday, June 17th. Craig Hallum restated a “buy” rating and issued a $100.00 price objective on shares of ACM Research in a research note on Monday, August 10th. Daiwa Securities Group started coverage on ACM Research in a research report on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $130.00 target price (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Finally, Zacks Research raised shares of ACM Research from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $122.75.

ACM Research Stock Up 3.3%

The firm has a market capitalization of $5.40 billion, a PE ratio of 39.80 and a beta of 2.09. The stock has a 50-day simple moving average of $76.37 and a 200-day simple moving average of $73.73. The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The company had revenue of $292.92 million during the quarter, compared to the consensus estimate of $269.28 million. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. Analysts forecast that ACM Research, Inc. will post 1.68 EPS for the current year.

Insider Activity

In related news, insider David H. Wang sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total transaction of $5,221,300.00. Following the sale, the insider directly owned 802,708 shares in the company, valued at approximately $59,873,989.72. This represents a 8.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total transaction of $405,650.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $405,650. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 24.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACM Research

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new position in shares of ACM Research in the second quarter valued at $332,000. Integrated Wealth Concepts LLC bought a new stake in shares of ACM Research during the 2nd quarter valued at $346,000. Nykredit A S purchased a new stake in ACM Research during the 2nd quarter worth about $173,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in ACM Research in the 2nd quarter worth about $622,000. Finally, Odyssean LLC lifted its holdings in shares of ACM Research by 26.7% in the second quarter. Odyssean LLC now owns 19,180 shares of the specialty retailer’s stock worth $2,434,000 after buying an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

ACM Research, Inc (NASDAQ: ACMR) develops, manufactures and sells semiconductor wafer-processing equipment used by integrated device manufacturers, foundries and advanced packaging companies. Its systems are designed to support processes involved in producing semiconductor devices, including wafer cleaning, surface preparation and related fabrication steps.

The company’s product portfolio includes single-wafer cleaning systems, batch wafer-cleaning equipment, wet-processing systems and tools for specialized applications such as wafer bevel cleaning and advanced packaging.