ACM Research (NASDAQ:ACMR) Research Coverage Started at Needham & Company LLC

Needham & Company LLC started coverage on shares of ACM Research (NASDAQ:ACMR) in a report published on Monday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $20.00 price objective on the specialty retailer’s stock.

Several other analysts also recently weighed in on ACMR. ValuEngine downgraded shares of ACM Research from a buy rating to a hold rating in a report on Thursday, August 15th. Zacks Investment Research upgraded shares of ACM Research from a hold rating to a strong-buy rating and set a $20.00 target price for the company in a report on Tuesday, August 13th. Finally, Craig Hallum reiterated a buy rating and issued a $25.00 target price (up previously from $20.00) on shares of ACM Research in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $20.25.

Shares of NASDAQ ACMR opened at $14.25 on Monday. The company has a 50 day simple moving average of $16.65 and a 200-day simple moving average of $15.66. The company has a market capitalization of $199.35 million, a P/E ratio of 25.91 and a beta of -0.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.03 and a quick ratio of 1.18. ACM Research has a 1 year low of $9.02 and a 1 year high of $21.88.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.15. The business had revenue of $29.01 million during the quarter, compared to the consensus estimate of $25.40 million. ACM Research had a net margin of 13.16% and a return on equity of 26.29%. As a group, research analysts expect that ACM Research will post 0.67 EPS for the current year.

A number of institutional investors have recently bought and sold shares of ACMR. Citadel Advisors LLC acquired a new position in shares of ACM Research in the second quarter worth $626,000. Morgan Stanley grew its stake in shares of ACM Research by 222.0% in the second quarter. Morgan Stanley now owns 11,386 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 7,850 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of ACM Research in the second quarter worth $825,000. A.R.T. Advisors LLC acquired a new position in shares of ACM Research in the second quarter worth $321,000. Finally, Renaissance Technologies LLC acquired a new position in shares of ACM Research in the second quarter worth $787,000. Hedge funds and other institutional investors own 8.64% of the company’s stock.

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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