ACM Research (NASDAQ:ACMR) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

ACM Research (NASDAQ:ACMR) posted its earnings results on Tuesday, May 8th. The specialty retailer reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06, Morningstar.com reports. The company had revenue of $9.74 million during the quarter, compared to the consensus estimate of $10.00 million.

NASDAQ:ACMR traded down $0.13 on Wednesday, reaching $11.76. 130 shares of the stock traded hands, compared to its average volume of 64,105. The company has a market capitalization of $161.00 million and a PE ratio of 62.79. ACM Research has a 1-year low of $11.98 and a 1-year high of $11.98.

A hedge fund recently bought a new stake in ACM Research stock. Granite Point Capital Management L.P. bought a new stake in shares of ACM Research (NASDAQ:ACMR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,000 shares of the specialty retailer’s stock, valued at approximately $131,000. Granite Point Capital Management L.P. owned 0.19% of ACM Research as of its most recent filing with the Securities and Exchange Commission. 6.14% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the stock. Roth Capital raised their price objective on shares of ACM Research from $12.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 16th. Craig Hallum raised their price objective on shares of ACM Research from $10.00 to $13.00 and gave the company a “buy” rating in a report on Monday, March 5th. Zacks Investment Research upgraded shares of ACM Research from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, April 10th. Finally, Benchmark reiterated a “buy” rating and issued a $10.00 price objective on shares of ACM Research in a report on Tuesday, March 6th.

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

Earnings History for ACM Research (NASDAQ:ACMR)

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