Needham & Company LLC Reiterates “Buy” Rating for ACM Research (NASDAQ:ACMR)

ACM Research (NASDAQ:ACMR)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $25.00 price target on the specialty retailer’s stock. Needham & Company LLC’s price target indicates a potential upside of 30.82% from the stock’s previous close.

A number of other brokerages have also commented on ACMR. Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of ACM Research in a research report on Wednesday, August 7th. Roth Mkm decreased their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

ACM Research Price Performance

Shares of ACMR stock opened at $19.11 on Tuesday. The stock has a 50 day moving average price of $17.93 and a 200 day moving average price of $22.69. ACM Research has a 52-week low of $12.53 and a 52-week high of $34.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29. The firm has a market capitalization of $1.09 billion, a P/E ratio of 14.69 and a beta of 1.52.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. The firm had revenue of $202.50 million during the quarter, compared to analyst estimates of $163.05 million. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The business’s revenue was up 40.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts predict that ACM Research will post 0.92 earnings per share for the current year.

Hedge Funds Weigh In On ACM Research

Hedge funds and other institutional investors have recently modified their holdings of the business. Hussman Strategic Advisors Inc. lifted its holdings in ACM Research by 0.3% during the first 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 lifted its stake in shares of ACM Research by 1.2% during the 1st quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer’s stock worth $2,558,000 after purchasing an additional 1,000 shares during the last quarter. Cim LLC boosted its position in ACM Research by 8.6% during the second 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 in the last quarter. Sei Investments Co. grew its stake in ACM Research by 6.7% in the second quarter. Sei Investments Co. now owns 21,736 shares of the specialty retailer’s stock valued at $501,000 after purchasing an additional 1,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in 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 worth $449,000 after purchasing an additional 1,382 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors.

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.