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

Key Points

• ACM Research shares gapped higher, opening at $46.67 versus a prior close of $44.15, and last traded near $45.02.
• Analyst sentiment remains favorable overall, with four Buy ratings and two Holds 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 versus $269.28 million estimated; insiders recently sold shares, while institutional investors own 66.75% of the stock.

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) shares gapped up prior to trading on Tuesday. The stock had previously closed at $44.15, but opened at $46.67. ACM Research shares last traded at $45.0220, with a volume of 136,282 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ACMR. Craig Hallum reissued a "buy" rating and issued a $100.00 price objective on shares of ACM Research in a research report on Monday, August 10th. Weiss Ratings lowered shares of ACM Research from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. Daiwa Securities Group began coverage on shares of ACM Research in a research report on Wednesday, August 26th. They set a "buy" rating and a $136.00 price target for the company. Finally, Zacks Research cut shares of ACM Research from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, ACM Research currently has an average rating of "Moderate Buy" and a consensus target price of $122.75.

ACM Research Stock Up 4.2%

The company has a current ratio of 3.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.97 billion, a P/E ratio of 21.73 and a beta of 2.09. The stock's 50-day moving average is $67.78 and its 200-day moving average is $68.55.

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

Insider Buying and Selling

In other ACM Research news, insider David H. Wang sold 70,000 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total value of $5,221,300.00. Following the completion of the sale, the insider directly owned 802,708 shares of the company's stock, valued at $59,873,989.72. The trade was a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Haiping Dun sold 5,000 shares of the firm's 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 completion of the transaction, the director owned 5,000 shares in the company, valued at $405,650. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 24.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACMR. Pekin Hardy Strauss Inc. bought a new position in shares of ACM Research in the third quarter valued at approximately $405,000. Prescott Group Capital Management L.L.C. acquired a new stake in ACM Research during the 3rd quarter worth $486,000. Integrity Alliance LLC. acquired a new stake in shares of ACM Research during the third quarter worth $419,000. Oregon Public Employees Retirement Fund lifted its stake in ACM Research by 1.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,219 shares of the specialty retailer's stock valued at $1,070,000 after buying an additional 242 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in ACM Research during the third quarter worth about $518,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

About ACM Research

ACM Research, Inc NASDAQ: ACMR develops and manufactures equipment used in semiconductor wafer processing. Its systems are designed to support the fabrication of integrated circuits and other electronic components, with a primary focus on cleaning and other process steps performed during semiconductor manufacturing.

The company's product portfolio includes single-wafer cleaning systems, wet-cleaning equipment, electrochemical plating systems, and other wafer-processing tools. These products are used by semiconductor manufacturers and foundries in applications involving advanced logic, memory, and specialty devices.

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