ACM Research (NASDAQ:ACMR) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of ACM Research (NASDAQ:ACMR) in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $36.00 price target on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 35.42% from the company’s previous close.

Several other research firms have also weighed in on ACMR. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of ACM Research in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

ACM Research Trading Up 1.9 %

NASDAQ ACMR traded up $0.48 on Friday, reaching $26.58. The company had a trading volume of 169,680 shares, compared to its average volume of 1,606,828. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 19.97 and a beta of 1.58. ACM Research has a 52 week low of $13.87 and a 52 week high of $34.40. The stock’s 50 day moving average is $19.37 and its 200-day moving average is $18.64. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

Insiders Place Their Bets

In related news, insider Sotheara Cheav sold 22,598 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the sale, the insider now owns 100,002 shares in the company, valued at approximately $2,300,046. This represents a 18.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.24% of the company’s stock.

Hedge Funds Weigh In On ACM Research

Large investors have recently modified their holdings of the stock. Kerrisdale Advisers LLC increased its stake in shares of ACM Research by 550.8% during the fourth quarter. Kerrisdale Advisers LLC now owns 1,948,003 shares of the specialty retailer’s stock worth $29,415,000 after purchasing an additional 1,648,685 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in ACM Research by 2,258.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,469,271 shares of the specialty retailer’s stock worth $22,171,000 after acquiring an additional 1,406,968 shares during the period. Panview Capital Ltd acquired a new stake in ACM Research in the 4th quarter worth about $20,758,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ACM Research by 1,418.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,174,720 shares of the specialty retailer’s stock worth $17,738,000 after purchasing an additional 1,097,358 shares in the last quarter. Finally, Triata Capital Ltd bought a new position in shares of ACM Research during the fourth quarter worth approximately $15,507,000. 66.75% of the stock is owned by 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 shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.