ACM Research's (ACMR) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ACM Research (NASDAQ:ACMR - Free Report) in a research note released on Thursday, Benzinga reports. Needham & Company LLC currently has a $34.00 price objective on the specialty retailer's stock.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group upgraded shares of ACM Research from a neutral rating to a buy rating and set a $39.00 target price on the stock in a research note on Thursday, February 29th. Benchmark lifted their price objective on ACM Research from $35.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, Roth Mkm boosted their price objective on ACM Research from $20.00 to $25.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, ACM Research currently has an average rating of Buy and a consensus target price of $31.88.

ACM Research Stock Down 1.1 %

NASDAQ:ACMR traded down $0.27 during trading hours on Thursday, reaching $25.29. The company's stock had a trading volume of 1,006,379 shares, compared to its average volume of 1,611,174. ACM Research has a one year low of $9.10 and a one year high of $34.40. The business's 50-day moving average is $28.79 and its 200-day moving average is $21.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.35 and a quick ratio of 1.26. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 21.68 and a beta of 1.42.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share (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 during the quarter, compared to the consensus estimate of $149.54 million. During the same quarter in the prior year, the company posted $0.15 EPS. The firm's revenue was up 57.0% on a year-over-year basis. Equities research analysts predict that ACM Research will post 1.22 EPS for the current year.

Insider Activity at ACM Research

In related news, insider Sotheara Cheav sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total transaction of $145,450.00. Following the transaction, the insider now directly owns 105,002 shares in the company, valued at $3,054,508.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Sotheara Cheav sold 5,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $29.09, for a total value of $145,450.00. Following the completion of the transaction, the insider now owns 105,002 shares of the company's stock, valued at $3,054,508.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa Feng sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total value of $189,000.00. Following the completion of the sale, the insider now owns 50,001 shares in the company, valued at $1,260,025.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,434 shares of company stock worth $4,375,572. Company insiders own 33.63% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Entropy Technologies LP grew its holdings in shares of ACM Research by 79.2% in the 1st quarter. Entropy Technologies LP now owns 22,316 shares of the specialty retailer's stock worth $650,000 after purchasing an additional 9,866 shares during the last quarter. ProShare Advisors LLC increased its holdings in ACM Research by 16.7% during the 1st quarter. ProShare Advisors LLC now owns 12,908 shares of the specialty retailer's stock valued at $376,000 after purchasing an additional 1,850 shares in the last quarter. Russell Investments Group Ltd. raised its position in ACM Research by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer's stock valued at $8,761,000 after purchasing an additional 12,593 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of ACM Research by 325.7% during the first quarter. Headlands Technologies LLC now owns 14,458 shares of the specialty retailer's stock worth $421,000 after purchasing an additional 11,062 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of ACM Research by 1.2% in the first quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer's stock valued at $2,558,000 after buying an additional 1,000 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors and hedge funds.

ACM Research Company Profile

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.