Roth Capital Increases Earnings Estimates for ACM Research

ACM Research, Inc. (NASDAQ:ACMR) – Equities research analysts at Roth Capital increased their FY2024 EPS estimates for ACM Research in a note issued to investors on Tuesday, January 14th. Roth Capital analyst S. Desilva now anticipates that the specialty retailer will post earnings per share of $1.17 for the year, up from their previous estimate of $1.12. The consensus estimate for ACM Research’s current full-year earnings is $1.12 per share.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.28 by $0.35. The firm had revenue of $204.00 million for the quarter, compared to the consensus estimate of $191.18 million. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share.

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

ACM Research Price Performance

Shares of ACM Research stock opened at $17.89 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. The company has a market cap of $1.03 billion, a PE ratio of 13.55 and a beta of 1.48. The firm has a fifty day moving average price of $16.57 and a two-hundred day moving average price of $18.42. ACM Research has a fifty-two week low of $13.87 and a fifty-two week high of $34.40.

Institutional Trading of ACM Research

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in ACM Research by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer’s stock worth $23,973,000 after buying an additional 26,620 shares during the period. Millennium Management LLC increased its position in ACM Research by 283.9% during the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after acquiring an additional 683,361 shares during the period. Portolan Capital Management LLC raised its stake in ACM Research by 7.7% in the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock worth $18,705,000 after purchasing an additional 65,616 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in ACM Research by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock worth $8,239,000 after purchasing an additional 13,879 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in ACM Research by 8.7% in the 3rd quarter. Citigroup Inc. now owns 340,207 shares of the specialty retailer’s stock valued at $6,906,000 after purchasing an additional 27,178 shares during the period. 66.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Haiping Dun sold 15,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $19.12, for a total value of $286,800.00. Following the transaction, the director now directly owns 774,148 shares of the company’s stock, valued at $14,801,709.76. This represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David H. Wang sold 56,250 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $17.89, for a total transaction of $1,006,312.50. Following the sale, the insider now owns 654,256 shares of the company’s stock, valued at approximately $11,704,639.84. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,500 shares of company stock valued at $2,366,363. 31.24% of the stock is owned by insiders.

About ACM Research

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.