ACM Research (NASDAQ:ACMR) Shares Gap Up - Time to Buy?

Key Points

• ACM Research shares jumped 18%, opening at $72.84 versus a prior close of $65.30 and last trading near $75.48. The stock’s consensus analyst rating is “Moderate Buy,” with an average price target of $127.50.
• The company exceeded quarterly expectations, reporting $0.34 EPS versus $0.26 expected and $231.26 million in revenue, up 34.2% year over year.
• Insiders sold 123,752 shares worth approximately $10.75 million over the past 90 days, while institutional investors own 66.75% of ACM Research’s outstanding stock.

Shares of ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $65.30, but opened at $72.84. ACM Research shares last traded at $75.4760, with a volume of 199,136 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ACMR shares. Morgan Stanley reiterated an "overweight" rating and issued a $130.00 price target (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of ACM Research in a report on Tuesday, July 21st. Roth Capital set a $125.00 target price on shares of ACM Research and gave the company a "buy" rating in a report on Wednesday, June 17th. Zacks Research cut ACM Research from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Seaport Research Partners initiated coverage on ACM Research in a research report on Monday, May 4th. They set a "buy" rating and a $75.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.50.

ACM Research Stock Up 18.0%

The company's 50-day moving average is $92.32 and its 200 day moving average is $67.26. The company has a market capitalization of $4.72 billion, a PE ratio of 58.71 and a beta of 1.90. 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 - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. The business had revenue of $231.26 million during the quarter, compared to analyst estimates of $215.69 million. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. ACM Research's revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. As a group, analysts anticipate that ACM Research, Inc. will post 1.02 EPS for the current year.

Insider Activity at ACM Research

In other ACM Research news, Director Haiping Dun sold 5,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total transaction of $331,100.00. Following the sale, the director directly owned 5,000 shares in the company, valued at approximately $331,100. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David H. Wang sold 40,002 shares of ACM Research stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $85.80, for a total value of $3,432,171.60. Following the completion of the sale, the insider directly owned 802,708 shares of the company's stock, valued at approximately $68,872,346.40. The trade was a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 123,752 shares of company stock valued at $10,752,198 over the last 90 days. Corporate insiders own 24.36% of the company's stock.

Institutional Investors Weigh In On ACM Research

Several institutional investors have recently modified their holdings of ACMR. Farther Finance Advisors LLC increased its holdings in ACM Research by 90.1% in the 4th quarter. Farther Finance Advisors LLC now owns 650 shares of the specialty retailer's stock worth $26,000 after buying an additional 308 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in ACM Research by 266.7% during the 4th quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 480 shares during the period. Leonteq Securities AG purchased a new stake in shares of ACM Research during the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of ACM Research by 656.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer's stock valued at $33,000 after acquiring an additional 1,122 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of ACM Research by 38.8% during the 4th quarter. GAMMA Investing LLC now owns 1,070 shares of the specialty retailer's stock valued at $42,000 after acquiring an additional 299 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.