ACM Research (NASDAQ:ACMR) Now Covered by Needham & Company LLC

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Needham & Company LLC assumed coverage on shares of ACM Research (NASDAQ:ACMR) in a research note published on Monday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $20.00 price target on the specialty retailer’s stock.

ACMR has been the topic of a number of other reports. Craig Hallum reaffirmed a buy rating and issued a $25.00 price objective (up from $20.00) on shares of ACM Research in a research note on Thursday, May 9th. ValuEngine lowered ACM Research from a buy rating to a hold rating in a research note on Thursday, August 15th. Finally, Zacks Investment Research raised ACM Research from a hold rating to a strong-buy rating and set a $20.00 price objective on the stock in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $20.60.

ACM Research stock opened at $14.72 on Monday. The stock’s 50 day moving average is $16.60 and its 200 day moving average is $15.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.03 and a quick ratio of 1.18. The firm has a market cap of $202.91 million, a P/E ratio of 18.48 and a beta of -0.70. ACM Research has a one year low of $9.02 and a one year high of $21.88.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.15. The company had revenue of $29.01 million for the quarter, compared to analyst estimates of $25.40 million. ACM Research had a return on equity of 26.29% and a net margin of 13.16%. Equities analysts anticipate that ACM Research will post 0.64 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA bought a new stake in ACM Research in the first quarter worth approximately $28,000. Acadian Asset Management LLC bought a new stake in ACM Research in the second quarter worth approximately $134,000. Wells Fargo & Company MN increased its holdings in ACM Research by 106.1% in the second quarter. Wells Fargo & Company MN now owns 9,341 shares of the specialty retailer’s stock worth $146,000 after purchasing an additional 4,808 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in ACM Research by 436.8% in the second quarter. JPMorgan Chase & Co. now owns 10,950 shares of the specialty retailer’s stock worth $169,000 after purchasing an additional 8,910 shares in the last quarter. Finally, Morgan Stanley increased its holdings in 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 purchasing an additional 7,850 shares in the last quarter. Institutional investors and hedge funds own 8.64% 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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