ACM Research (NASDAQ:ACMR) Price Target Cut to $19.00

ACM Research (NASDAQ:ACMR) had its target price cut by analysts at Benchmark from $24.00 to $19.00 in a research report issued on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Benchmark’s price objective would indicate a potential upside of 31.76% from the stock’s previous close.

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Several other equities research analysts have also recently weighed in on ACMR. Zacks Investment Research raised shares of ACM Research from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Tuesday, November 5th. Stifel Nicolaus assumed coverage on shares of ACM Research in a research report on Thursday, August 22nd. They issued a “buy” rating and a $22.00 price target for the company. ValuEngine cut shares of ACM Research from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of ACM Research in a research report on Thursday. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.20.

Shares of ACM Research stock traded down $1.23 during trading hours on Friday, reaching $14.42. The company’s stock had a trading volume of 155,200 shares, compared to its average volume of 112,128. The stock has a market cap of $203.34 million, a P/E ratio of 26.22 and a beta of -0.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.03 and a quick ratio of 1.18. ACM Research has a one year low of $9.02 and a one year high of $21.88. The firm has a 50 day moving average price of $13.57 and a 200-day moving average price of $15.98.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.31. ACM Research had a net margin of 13.16% and a return on equity of 26.29%. The firm had revenue of $33.43 million during the quarter, compared to analysts’ expectations of $29.70 million. As a group, sell-side analysts forecast that ACM Research will post 0.66 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in shares of ACM Research in the 2nd quarter worth approximately $626,000. Paloma Partners Management Co bought a new position in shares of ACM Research during the 2nd quarter worth approximately $825,000. Wells Fargo & Company MN raised its stake in shares of ACM Research by 106.1% during the 2nd quarter. Wells Fargo & Company MN now owns 9,341 shares of the specialty retailer’s stock worth $146,000 after acquiring an additional 4,808 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of ACM Research during the 2nd quarter worth approximately $321,000. Finally, Allianz Asset Management GmbH bought a new position in shares of ACM Research during the 2nd quarter worth approximately $631,000. 12.32% of the stock is owned by hedge funds and other institutional investors.

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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