ACM Research (NASDAQ:ACMR) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• ACM Research shares moved above their 200-day moving average, trading as high as $73.40 and closing the session at $72.77 versus the $72.00 average.
• Analysts remain bullish, with an overall “Buy” consensus and an average price target of $122.75; recent targets range from $100 to $136.
• The company exceeded quarterly expectations, reporting $0.61 in adjusted earnings per share versus $0.42 expected and $292.92 million in revenue, up 36% year over year.

Shares of ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $72.00 and traded as high as $73.40. ACM Research shares last traded at $72.77, with a volume of 1,509,121 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Daiwa Securities Group assumed coverage on shares of ACM Research in a report on Wednesday, August 26th. They issued a "buy" rating and a $136.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $130.00 price objective (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Craig Hallum reiterated a "buy" rating and issued a $100.00 target price on shares of ACM Research in a research note on Monday, August 10th. Weiss Ratings raised shares of ACM Research from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of ACM Research from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $122.75.

ACM Research Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 2.66. The company has a 50 day simple moving average of $78.14 and a 200-day simple moving average of $72.00. The firm has a market cap of $4.71 billion, a PE ratio of 34.65 and a beta of 1.96.

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

Insider Transactions at ACM Research

In related news, Director Haiping Dun sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total transaction of $405,650.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $405,650. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owned 802,708 shares of the company's stock, valued at $59,873,989.72. The trade was a 8.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 24.36% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACMR. Sequoia Financial Advisors LLC bought a new stake in ACM Research in the 2nd quarter worth $332,000. Integrated Wealth Concepts LLC bought a new position in shares of ACM Research during the second quarter valued at about $346,000. Nykredit A S purchased a new stake in shares of ACM Research during the second quarter worth about $173,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of ACM Research in the second quarter worth about $622,000. Finally, Odyssean LLC grew its stake in shares of ACM Research by 26.7% in the second quarter. Odyssean LLC now owns 19,180 shares of the specialty retailer's stock worth $2,434,000 after purchasing an additional 4,043 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 develops, manufactures and sells equipment used in semiconductor manufacturing and advanced packaging. Its products are designed for wafer processing steps that help semiconductor manufacturers clean, prepare and deposit materials on silicon wafers and other substrates.

The company's product portfolio includes single-wafer cleaning systems, wet-processing equipment, electrochemical deposition systems, furnace systems and equipment for advanced packaging applications. Its cleaning technologies include the Space Alternated Phase Shift (SAPS) and Tahoe platforms, which are intended to remove contaminants and residues while supporting the production of increasingly complex semiconductor devices.

Founded in 1998, ACM Research is headquartered in Fremont, California, and serves semiconductor manufacturers and other customers through operations and facilities in the United States, China and other international markets.

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