ACM Research (NASDAQ:ACMR) Hits New 1-Year High - Here's What Happened

Key Points

• ACM Research, Inc. shares reached a new 52-week high of $40.26, up from a previous close of $39.13, with a total trading volume of over 205,000 shares.
• Roth Capital upgraded the company's price target to $50.00, and the stock currently holds a consensus rating of "Moderate Buy" from analysts.
• ACM Research reported earnings of $0.54 per share for the last quarter, surpassing estimates, and showed a 6.4% year-over-year increase in quarterly revenue.

Shares of ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $40.26 and last traded at $40.18, with a volume of 205503 shares. The stock had previously closed at $39.13.

Analyst Upgrades and Downgrades

Separately, Roth Capital reaffirmed a "buy" rating and set a $50.00 price objective (up previously from $40.00) on shares of ACM Research in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.25.

ACM Research Price Performance

The stock has a fifty day moving average of $29.89 and a two-hundred day moving average of $26.09. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 25.62 and a beta of 1.43. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 0.14.

ACM Research (NASDAQ:ACMR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The firm had revenue of $215.37 million for the quarter, compared to analyst estimates of $223.42 million. ACM Research had a return on equity of 9.57% and a net margin of 13.76%.ACM Research's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, equities research analysts anticipate that ACM Research, Inc. will post 1.17 earnings per share for the current year.

Insider Activity at ACM Research

In other ACM Research news, Director Tracy Liu sold 15,000 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $33.00, for a total transaction of $495,000.00. Following the sale, the director directly owned 110,772 shares in the company, valued at approximately $3,655,476. The trade was a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jian Wang sold 30,000 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the sale, the insider owned 253,158 shares in the company, valued at approximately $8,860,530. The trade was a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,152 shares of company stock valued at $8,419,160 in the last 90 days. 25.00% of the stock is owned by corporate insiders.

Institutional Trading of ACM Research

Several institutional investors and hedge funds have recently made changes to their positions in ACMR. Federated Hermes Inc. lifted its position in shares of ACM Research by 12,871.6% in the first quarter. Federated Hermes Inc. now owns 1,072,752 shares of the specialty retailer's stock valued at $25,038,000 after acquiring an additional 1,064,482 shares in the last quarter. Broad Bay Capital Management LP purchased a new stake in shares of ACM Research in the first quarter valued at $21,134,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of ACM Research by 39.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,302,351 shares of the specialty retailer's stock valued at $59,631,000 after acquiring an additional 649,116 shares in the last quarter. LSV Asset Management purchased a new stake in shares of ACM Research in the second quarter valued at $11,523,000. Finally, Triata Capital Ltd lifted its position in shares of ACM Research by 33.5% in the first quarter. Triata Capital Ltd now owns 1,371,125 shares of the specialty retailer's stock valued at $32,002,000 after acquiring an additional 344,158 shares in the last quarter. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

About ACM Research

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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