ACM Research (NASDAQ:ACMR) Trading 7.7% Higher – Time to Buy?

ACM Research, Inc. (NASDAQ:ACMR)’s stock price traded up 7.7% on Thursday . The company traded as high as $22.40 and last traded at $22.45. 1,300,527 shares changed hands during trading, a decline of 4% from the average session volume of 1,352,610 shares. The stock had previously closed at $20.85.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC downgraded shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Wednesday, December 4th. Craig Hallum downgraded ACM Research from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $18.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, ACM Research currently has an average rating of “Moderate Buy” and an average target price of $30.00.

ACM Research Stock Performance

The business’s fifty day moving average price is $16.72 and its two-hundred day moving average price is $17.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The stock has a market capitalization of $1.31 billion, a P/E ratio of 17.24 and a beta of 1.58.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.35. The company had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, sell-side analysts forecast that ACM Research, Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In other ACM Research news, insider David H. Wang sold 56,250 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total value of $1,006,312.50. Following the completion of the sale, the insider now owns 654,256 shares of the company’s stock, valued at $11,704,639.84. This trade represents a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Haiping Dun sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $19.12, for a total value of $286,800.00. Following the transaction, the director now directly owns 774,148 shares in the company, valued at approximately $14,801,709.76. This represents a 1.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,500 shares of company stock valued at $2,366,363. 31.24% of the stock is currently owned by insiders.

Institutional Trading of ACM Research

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in ACM Research during the 4th quarter valued at about $33,000. Erste Asset Management GmbH purchased a new position in shares of ACM Research during the third quarter worth approximately $37,000. Truvestments Capital LLC bought a new stake in shares of ACM Research during the third quarter valued at approximately $72,000. CWM LLC boosted its holdings in shares of ACM Research by 128.4% in the third quarter. CWM LLC now owns 4,408 shares of the specialty retailer’s stock valued at $89,000 after purchasing an additional 2,478 shares during the period. Finally, Ieq Capital LLC bought a new position in ACM Research in the fourth quarter worth approximately $162,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

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.