ACM Research (NASDAQ:ACMR) Shares Gap Up to $31.21

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $31.21, but opened at $32.25. ACM Research shares last traded at $32.35, with a volume of 275,861 shares traded.

Analyst Ratings Changes

ACMR has been the subject of several research analyst reports. Roth Mkm increased their target price on ACM Research from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, January 10th. Needham & Company LLC increased their target price on ACM Research from $24.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Benchmark increased their target price on ACM Research from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group raised ACM Research from a "neutral" rating to a "buy" rating and set a $39.00 price target for the company in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $31.88.

ACM Research Price Performance

The company has a current ratio of 2.35, a quick ratio of 1.26 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.72 billion, a P/E ratio of 26.16 and a beta of 1.39. The stock has a 50 day moving average of $24.66 and a 200-day moving average of $20.23.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.16 by $0.27. ACM Research had a return on equity of 9.23% and a net margin of 13.87%. The company had revenue of $170.30 million for the quarter, compared to the consensus estimate of $149.54 million. During the same period last year, the business posted $0.15 EPS. ACM Research's quarterly revenue was up 57.0% on a year-over-year basis. On average, equities research analysts anticipate that ACM Research, Inc. will post 1.22 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mark Mckechnie sold 10,000 shares of the firm's stock in a transaction on Friday, January 12th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the completion of the sale, the insider now owns 900 shares of the company's stock, valued at approximately $19,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mark Mckechnie sold 10,000 shares of the firm's stock in a transaction on Friday, January 12th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the completion of the sale, the insider now owns 900 shares of the company's stock, valued at approximately $19,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tracy Liu sold 12,500 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total value of $315,000.00. Following the completion of the sale, the director now directly owns 110,772 shares of the company's stock, valued at approximately $2,791,454.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,434 shares of company stock worth $4,595,572. 33.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ACM Research

Several institutional investors and hedge funds have recently modified their holdings of ACMR. Millennium Management LLC lifted its holdings in shares of ACM Research by 1,133.6% in the 4th quarter. Millennium Management LLC now owns 1,843,704 shares of the specialty retailer's stock valued at $14,215,000 after buying an additional 1,694,246 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of ACM Research by 363.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,053,683 shares of the specialty retailer's stock valued at $34,564,000 after purchasing an additional 1,610,702 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of ACM Research by 211.7% in the 1st quarter. Vanguard Group Inc. now owns 1,988,544 shares of the specialty retailer's stock valued at $41,143,000 after purchasing an additional 1,350,632 shares in the last quarter. Ariose Capital Management Ltd increased its stake in shares of ACM Research by 163.8% in the 4th quarter. Ariose Capital Management Ltd now owns 1,980,671 shares of the specialty retailer's stock valued at $38,702,000 after purchasing an additional 1,229,839 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of ACM Research by 1,978.1% in the 4th quarter. JPMorgan Chase & Co. now owns 868,911 shares of the specialty retailer's stock valued at $6,699,000 after purchasing an additional 827,099 shares in the last quarter. Institutional investors and hedge funds own 66.75% of the company's stock.

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.