ACM Research (NASDAQ:ACMR) Rating Reiterated by Craig Hallum

ACM Research (NASDAQ:ACMR)‘s stock had its “buy” rating reaffirmed by equities researchers at Craig Hallum in a research report issued to clients and investors on Tuesday, The Fly reports. They presently have a $31.00 price target on the specialty retailer’s stock, up from their prior price target of $25.00. Craig Hallum’s price target indicates a potential downside of 14.55% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities analysts also recently issued reports on ACMR. Zacks Investment Research downgraded ACM Research from a “buy” rating to a “hold” rating in a research note on Friday, January 10th. Benchmark lifted their price target on ACM Research from $19.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on ACM Research from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of ACM Research in a research note on Thursday, November 7th. Finally, TheStreet upgraded ACM Research from a “c” rating to a “b-” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. ACM Research currently has an average rating of “Buy” and a consensus price target of $28.50.

Shares of ACMR traded up $1.13 during trading hours on Tuesday, hitting $36.28. The stock had a trading volume of 609,385 shares, compared to its average volume of 339,625. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.91 and a quick ratio of 2.14. The firm has a 50 day simple moving average of $18.68 and a 200-day simple moving average of $15.88. The firm has a market capitalization of $515.99 million, a P/E ratio of 65.96 and a beta of -0.43. ACM Research has a 1-year low of $9.02 and a 1-year high of $36.70.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, November 6th. The specialty retailer reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.31. The company had revenue of $33.43 million during the quarter, compared to the consensus estimate of $29.70 million. ACM Research had a return on equity of 32.04% and a net margin of 16.61%. Equities analysts predict that ACM Research will post 0.89 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in ACMR. Wells Fargo & Company MN boosted its stake in shares of ACM Research by 106.1% in the 2nd quarter. Wells Fargo & Company MN now owns 9,341 shares of the specialty retailer’s stock worth $146,000 after buying an additional 4,808 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ACM Research by 436.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,950 shares of the specialty retailer’s stock worth $169,000 after buying an additional 8,910 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of ACM Research in the 2nd quarter worth approximately $787,000. A.R.T. Advisors LLC purchased a new position in shares of ACM Research in the 2nd quarter worth approximately $321,000. Finally, Paloma Partners Management Co purchased a new position in shares of ACM Research in the 2nd quarter worth approximately $825,000. Hedge funds and other institutional investors own 17.97% 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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