ACM Research, Inc. (NASDAQ:ACMR) Receives Consensus Recommendation of “Buy” from Brokerages

ACM Research, Inc. (NASDAQ:ACMRGet Rating) has received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.00.

ACMR has been the subject of several analyst reports. The Goldman Sachs Group lowered ACM Research from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $44.00 to $20.00 in a research note on Sunday, May 8th. Zacks Investment Research lowered ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 8th. Craig Hallum cut their price target on ACM Research from $43.00 to $24.00 in a research note on Monday, May 9th. Finally, Roth Capital cut their price target on ACM Research from $40.00 to $33.33 in a research note on Thursday, March 10th.

In other ACM Research news, Director Haiping Dun sold 36,150 shares of the stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $15.00, for a total transaction of $542,250.00. Following the completion of the transaction, the director now owns 855,090 shares of the company’s stock, valued at approximately $12,826,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.96% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Green Court Capital Management Ltd lifted its holdings in shares of ACM Research by 263.0% in the 1st quarter. Green Court Capital Management Ltd now owns 2,545,725 shares of the specialty retailer’s stock valued at $52,671,000 after acquiring an additional 1,844,442 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ACM Research by 211.7% in the 1st quarter. Vanguard Group Inc. now owns 1,988,544 shares of the specialty retailer’s stock valued at $41,143,000 after acquiring an additional 1,350,632 shares during the last quarter. Morgan Stanley lifted its holdings in shares of ACM Research by 1,669.7% in the 3rd quarter. Morgan Stanley now owns 1,427,551 shares of the specialty retailer’s stock valued at $157,030,000 after acquiring an additional 1,346,885 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of ACM Research by 909.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,028,100 shares of the specialty retailer’s stock valued at $21,271,000 after acquiring an additional 926,300 shares during the last quarter. Finally, Matthews International Capital Management LLC lifted its holdings in shares of ACM Research by 200.0% in the 1st quarter. Matthews International Capital Management LLC now owns 881,400 shares of the specialty retailer’s stock valued at $18,236,000 after acquiring an additional 587,600 shares during the last quarter. 19.88% of the stock is owned by institutional investors and hedge funds.

Shares of ACMR opened at $15.08 on Friday. The firm has a market cap of $815.53 million, a PE ratio of 38.02 and a beta of 0.78. The company has a current ratio of 3.70, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $15.58 and a two-hundred day simple moving average of $22.13. ACM Research has a 1-year low of $11.23 and a 1-year high of $39.71.

ACM Research (NASDAQ:ACMRGet Rating) last posted its quarterly earnings data on Friday, May 6th. The specialty retailer reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.08. The firm had revenue of $42.20 million during the quarter, compared to analyst estimates of $49.25 million. ACM Research had a return on equity of 5.49% and a net margin of 10.26%. ACM Research’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. As a group, research analysts forecast that ACM Research will post 0.53 EPS for the current fiscal year.

About ACM Research (Get Rating)

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.

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