JPMorgan Chase & Co. Initiates Coverage on ACM Research (NASDAQ:ACMR)

JPMorgan Chase & Co. began coverage on shares of ACM Research (NASDAQ:ACMR) in a research note released on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $36.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts also recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ACM Research in a research report on Thursday. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, ACM Research presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

ACM Research Price Performance

Shares of ACMR stock opened at $25.94 on Friday. ACM Research has a 1-year low of $13.87 and a 1-year high of $34.40. The stock’s 50-day moving average is $19.37 and its 200 day moving average is $18.64. The company has a market cap of $1.49 billion, a P/E ratio of 19.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

Insider Transactions at ACM Research

In other news, insider Sotheara Cheav sold 22,598 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the completion of the transaction, the insider now directly owns 100,002 shares in the company, valued at $2,300,046. This trade represents a 18.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 31.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACMR. Janney Montgomery Scott LLC grew its holdings in ACM Research by 35.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer’s stock worth $1,067,000 after acquiring an additional 18,617 shares during the period. Algert Global LLC grew its holdings in ACM Research by 530.5% during the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after acquiring an additional 149,670 shares during the period. SG Americas Securities LLC acquired a new stake in ACM Research during the fourth quarter worth about $5,782,000. Barclays PLC grew its holdings in ACM Research by 63.3% during the third quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock worth $2,793,000 after acquiring an additional 53,319 shares during the period. Finally, XTX Topco Ltd acquired a new stake in ACM Research during the third quarter worth about $700,000. 66.75% of the stock is currently 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.