ACM Research (NASDAQ:ACMR) Shares Gap Up - Here's What Happened

Key Points

• ACM Research shares gapped up 11% after the stock opened at $88.17 versus a prior close of $82.52, trading as high as $88.95 in early activity.
• Recent analyst sentiment has been mixed but broadly constructive, with the stock carrying a “Moderate Buy” consensus and an average price target of $127.50. Recent calls included upgrades from Wall Street Zen and Seaport Research Partners, while Zacks cut its rating to Hold.
• Latest earnings showed strong year-over-year growth: ACM Research reported $0.34 EPS on revenue of $231.26 million, beating estimates and posting 34.2% revenue growth from a year earlier.

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $82.52, but opened at $88.17. ACM Research shares last traded at $88.9540, with a volume of 97,610 shares.

Analyst Ratings Changes

Several analysts recently issued reports on ACMR shares. Wall Street Zen upgraded ACM Research from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Roth Capital set a $125.00 price objective on ACM Research and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Weiss Ratings raised ACM Research from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, April 24th. Zacks Research cut shares of ACM Research from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Seaport Research Partners started coverage on shares of ACM Research in a research note on Monday, May 4th. They issued a "buy" rating and a $75.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.50.

ACM Research Trading Up 11.0%

The company has a quick ratio of 2.52, a current ratio of 3.51 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.61 billion, a P/E ratio of 69.87 and a beta of 1.90. The firm has a 50 day moving average of $89.95 and a 200-day moving average of $65.41.

ACM Research (NASDAQ:ACMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.08. The firm had revenue of $231.26 million for the quarter, compared to analyst estimates of $215.69 million. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.The company's revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. On average, equities research analysts predict that ACM Research, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sotheara Cheav sold 13,351 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $85.15, for a total value of $1,136,837.65. Following the transaction, the insider owned 100,002 shares in the company, valued at approximately $8,515,170.30. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David H. Wang sold 60,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 802,708 shares of the company's stock, valued at approximately $72,283,855.40. This trade represents a 6.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 123,752 shares of company stock worth $10,752,198. Company insiders own 24.36% of the company's stock.

Institutional Trading of ACM Research

A number of institutional investors and hedge funds have recently made changes to their positions in ACMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ACM Research by 10.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,061 shares of the specialty retailer's stock worth $748,000 after acquiring an additional 3,065 shares in the last quarter. Caxton Associates LLP acquired a new position in ACM Research during the first quarter valued at approximately $250,000. Strs Ohio acquired a new position in ACM Research during the first quarter valued at approximately $133,000. Creative Planning acquired a new position in ACM Research during the second quarter valued at approximately $212,000. Finally, Norges Bank bought a new stake in ACM Research during the second quarter worth $739,000. Institutional investors own 66.75% of the company's stock.

ACM Research Company Profile

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.

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