ACM Research (NASDAQ:ACMR) Raised to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ACM Research (NASDAQ:ACMR) from a hold rating to a strong-buy rating in a research report released on Tuesday morning, Zacks.com reports. They currently have $20.00 price objective on the specialty retailer’s stock.

According to Zacks, “Acm Research, Inc. develops, manufactures and sells single-wafer wet cleaning equipment, which semiconductor manufacturers can use in numerous manufacturing steps to remove particles, contaminants and other random defects. Acm Research, Inc. is headquartered in Fremont, California. “

Separately, Craig Hallum reissued a buy rating and issued a $25.00 price target (up from $20.00) on shares of ACM Research in a research report on Thursday, May 9th.

ACM Research stock opened at $13.98 on Tuesday. The stock’s 50 day simple moving average is $16.92 and its two-hundred day simple moving average is $15.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 2.03. The stock has a market cap of $261.09 million, a price-to-earnings ratio of 23.78 and a beta of -0.70. ACM Research has a fifty-two week low of $9.02 and a fifty-two week high of $21.88.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.15. The business had revenue of $29.01 million for the quarter, compared to analysts’ expectations of $25.40 million. ACM Research had a return on equity of 26.29% and a net margin of 13.16%. On average, analysts predict that ACM Research will post 0.67 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA bought a new stake in shares of ACM Research in the 1st quarter worth approximately $28,000. Acadian Asset Management LLC purchased a new position in ACM Research in the 2nd quarter worth approximately $134,000. Wells Fargo & Company MN raised its holdings in ACM Research by 106.1% in the 2nd quarter. Wells Fargo & Company MN now owns 9,341 shares of the specialty retailer’s stock worth $146,000 after acquiring an additional 4,808 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in ACM Research by 436.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,950 shares of the specialty retailer’s stock worth $169,000 after acquiring an additional 8,910 shares during the last quarter. Finally, Morgan Stanley raised its holdings in ACM Research by 222.0% in the 2nd quarter. Morgan Stanley now owns 11,386 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 7,850 shares during the last quarter. 10.35% 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 of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces in a uniform manner on a microscopic level; timely energized bubble oscillation cleaning equipment for two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.

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