ACM Research (ACMR) Reaches New 52-Week High at $16.40

ACM Research Inc (NASDAQ:ACMR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.40 and last traded at $17.21, with a volume of 9244 shares trading hands. The stock had previously closed at $14.87.

Several brokerages have commented on ACMR. ValuEngine upgraded shares of ACM Research from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research lowered shares of ACM Research from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of ACM Research in a research note on Friday, March 8th.

The company has a market cap of $192.26 million, a P/E ratio of 29.25 and a beta of -0.45.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Wednesday, March 6th. The specialty retailer reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The business had revenue of $20.85 million during the quarter, compared to the consensus estimate of $20.00 million. ACM Research had a return on equity of 20.72% and a net margin of 8.81%. On average, sell-side analysts forecast that ACM Research Inc will post 0.5 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of ACM Research by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 77,179 shares of the specialty retailer’s stock valued at $839,000 after acquiring an additional 3,782 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ACM Research by 65.7% in the fourth quarter. Bank of New York Mellon Corp now owns 27,695 shares of the specialty retailer’s stock valued at $301,000 after acquiring an additional 10,985 shares during the period. BlackRock Inc. boosted its holdings in shares of ACM Research by 1.3% in the fourth quarter. BlackRock Inc. now owns 410,562 shares of the specialty retailer’s stock valued at $4,467,000 after acquiring an additional 5,284 shares during the period. Vanguard Group Inc boosted its holdings in shares of ACM Research by 70.3% in the third quarter. Vanguard Group Inc now owns 279,837 shares of the specialty retailer’s stock valued at $3,098,000 after acquiring an additional 115,563 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of ACM Research by 70.3% in the third quarter. Vanguard Group Inc. now owns 279,837 shares of the specialty retailer’s stock valued at $3,098,000 after acquiring an additional 115,563 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

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About ACM Research (NASDAQ:ACMR)

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 conventional two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.

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