ACM Research (NASDAQ:ACMR) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ACM Research (NASDAQ:ACMR) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $19.00 target price 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. “

Several other brokerages have also weighed in on ACMR. ValuEngine raised shares of Yara International ASA from a sell rating to a hold rating in a research report on Tuesday, March 19th. Craig Hallum cut their price objective on shares of Green Dot from $115.00 to $100.00 and set a buy rating on the stock in a research report on Thursday, May 9th.

Shares of ACMR opened at $16.51 on Tuesday. The company has a market capitalization of $234.39 million, a price-to-earnings ratio of 23.59 and a beta of -0.71. The company’s 50 day simple moving average is $17.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.17 and a current ratio of 2.03. ACM Research has a twelve month low of $9.02 and a twelve month high of $21.88.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Tuesday, May 7th. The specialty retailer reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.12. The firm had revenue of $20.48 million for the quarter, compared to analyst estimates of $17.50 million. ACM Research had a net margin of 13.13% and a return on equity of 25.10%. As a group, research analysts expect that ACM Research will post 0.51 EPS for the current year.

A number of hedge funds have recently made changes to their positions in ACMR. BlackRock Inc. grew its holdings in ACM Research by 1.3% during the fourth quarter. BlackRock Inc. now owns 410,562 shares of the specialty retailer’s stock valued at $4,467,000 after purchasing an additional 5,284 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in ACM Research by 65.7% during 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 purchasing an additional 10,985 shares during the last quarter. Geode Capital Management LLC grew its holdings in ACM Research by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 77,179 shares of the specialty retailer’s stock valued at $839,000 after purchasing an additional 3,782 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in ACM Research during the first quarter valued at approximately $28,000. Finally, Spark Investment Management LLC grew its holdings in ACM Research by 40.9% during the first quarter. Spark Investment Management LLC now owns 18,600 shares of the specialty retailer’s stock valued at $286,000 after purchasing an additional 5,400 shares during the last quarter. Institutional investors own 10.32% of the company’s stock.

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 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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