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

Key Points

• ACM Research shares jumped 7.6%, opening at $56.35 versus a prior close of $53.10 and later trading at $56.56.
• Analyst sentiment remains positive, with five Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $122.75.
• The company exceeded quarterly expectations, reporting $0.61 in EPS versus $0.42 expected and $292.92 million in revenue, up 36% year over year; institutional investors own 66.75% of the stock.

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report)'s stock price gapped up before the market opened on Monday. The stock had previously closed at $53.10, but opened at $56.35. ACM Research shares last traded at $56.56, with a volume of 106,915 shares trading hands.

Analyst Upgrades and Downgrades

ACMR has been the topic of a number of research reports. Weiss Ratings upgraded ACM Research from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 9th. Daiwa Securities Group assumed coverage on shares of ACM Research in a report on Wednesday, August 26th. They set a "buy" rating and a $136.00 price target for the company. Zacks Research downgraded shares of ACM Research from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Craig Hallum reiterated a "buy" rating and issued a $100.00 price objective on shares of ACM Research in a research note on Monday, August 10th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.75.

ACM Research Trading Up 7.6%

The firm has a market cap of $3.69 billion, a P/E ratio of 27.23 and a beta of 2.09. The company has a 50 day moving average of $74.22 and a 200 day moving average of $75.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66.

ACM Research (NASDAQ:ACMR - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The specialty retailer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. The firm had revenue of $292.92 million for the quarter, compared to analyst estimates of $269.28 million. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The company's revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. Analysts predict that ACM Research, Inc. will post 1.68 EPS for the current fiscal year.

Insider Activity at ACM Research

In other news, Director Haiping Dun sold 5,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $81.13, for a total transaction of $405,650.00. Following the transaction, the director owned 5,000 shares in the company, valued at $405,650. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Wang sold 70,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total transaction of $5,221,300.00. Following the transaction, the insider owned 802,708 shares in the company, valued at approximately $59,873,989.72. This trade represents a 8.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 24.36% of the company's stock.

Hedge Funds Weigh In On ACM Research

Several hedge funds have recently bought and sold shares of ACMR. WCM Investment Management LLC lifted its stake in shares of ACM Research by 16,878.8% in the first quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer's stock worth $70,583,000 after buying an additional 1,849,914 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ACM Research by 207.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer's stock worth $28,286,000 after buying an additional 485,282 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of ACM Research during the 2nd quarter worth $41,402,000. Wellington Management Group LLP acquired a new position in ACM Research in the 2nd quarter valued at $22,204,000. Finally, First Trust Advisors LP grew its stake in ACM Research by 73.7% in the 1st quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer's stock valued at $14,716,000 after buying an additional 158,664 shares during the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

About ACM Research

ACM Research, Inc NASDAQ: ACMR develops, manufactures and sells semiconductor wafer-processing equipment used by integrated device manufacturers, foundries and advanced packaging companies. Its systems are designed to support processes involved in producing semiconductor devices, including wafer cleaning, surface preparation and related fabrication steps.

The company's product portfolio includes single-wafer cleaning systems, batch wafer-cleaning equipment, wet-processing systems and tools for specialized applications such as wafer bevel cleaning and advanced packaging.

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