ACM Research (NASDAQ:ACMR) Shares Gap Up After Strong Earnings

Shares of ACM Research, Inc. (NASDAQ:ACMR) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $22.94, but opened at $27.67. ACM Research shares last traded at $27.28, with a volume of 2,157,516 shares changing hands.

The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. ACM Research had a net margin of 12.38% and a return on equity of 9.07%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ACMR. Craig Hallum downgraded ACM Research from a “buy” rating to a “hold” rating and lowered their price target for the company from $30.00 to $18.00 in a report on Thursday, December 5th. Needham & Company LLC cut ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, ACM Research currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Insider Buying and Selling at ACM Research

In related news, insider Sotheara Cheav sold 22,598 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the sale, the insider now owns 100,002 shares of the company’s stock, valued at approximately $2,300,046. This trade represents a 18.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACM Research

Several large investors have recently added to or reduced their stakes in ACMR. Rhumbline Advisers lifted its stake in ACM Research by 0.8% in the fourth quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer’s stock valued at $1,113,000 after buying an additional 589 shares during the last quarter. Beacon Financial Advisory LLC lifted its position in ACM Research by 7.1% in the 4th quarter. Beacon Financial Advisory LLC now owns 14,495 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 960 shares during the last quarter. Arizona State Retirement System lifted its position in ACM Research by 7.3% in the 4th quarter. Arizona State Retirement System now owns 14,964 shares of the specialty retailer’s stock valued at $226,000 after purchasing an additional 1,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in ACM Research by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,996 shares of the specialty retailer’s stock valued at $438,000 after purchasing an additional 1,061 shares during the period. Finally, Picton Mahoney Asset Management grew its position in ACM Research by 66.2% in the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock worth $47,000 after purchasing an additional 1,236 shares during the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Stock Up 18.7 %

The firm’s 50 day simple moving average is $18.91 and its 200 day simple moving average is $18.53. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 20.87 and a beta of 1.58. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

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.