ACM Research (NASDAQ:ACMR) Stock Price Up 9%

Shares of ACM Research, Inc. (NASDAQ:ACMR) rose 9% during mid-day trading on Thursday . The stock traded as high as $19.82 and last traded at $19.34. Approximately 273,138 shares traded hands during trading, a decline of 81% from the average daily volume of 1,412,031 shares. The stock had previously closed at $17.74.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ACMR shares. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of ACM Research in a report on Wednesday, August 7th. Roth Mkm cut their price objective on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of ACM Research in a research note on Thursday, August 8th.

ACM Research Stock Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of 14.36 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 2.29 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $18.04 and a 200 day moving average of $22.97.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The firm had revenue of $202.50 million for the quarter, compared to analysts’ expectations of $163.05 million. During the same period in the prior year, the firm earned $0.45 earnings per share. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. Research analysts anticipate that ACM Research, Inc. will post 0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACMR. Hussman Strategic Advisors Inc. grew its position in shares of ACM Research by 0.3% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 157,500 shares of the specialty retailer’s stock worth $4,590,000 after buying an additional 500 shares during the period. Swiss National Bank raised its stake in ACM Research by 1.2% in the first quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer’s stock valued at $2,558,000 after buying an additional 1,000 shares during the period. Cim LLC lifted its holdings in ACM Research by 8.6% during the 2nd quarter. Cim LLC now owns 16,788 shares of the specialty retailer’s stock valued at $387,000 after purchasing an additional 1,326 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of ACM Research by 6.7% during the 2nd quarter. Sei Investments Co. now owns 21,736 shares of the specialty retailer’s stock worth $501,000 after buying an additional 1,358 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of ACM Research by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the specialty retailer’s stock valued at $449,000 after purchasing an additional 1,382 shares during the last quarter. 66.75% of the stock is currently owned by 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.