ACM Research (NASDAQ:ACMR) issued its quarterly earnings data on Thursday. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.18, Fidelity Earnings reports. ACM Research had a net margin of 5.43% and a return on equity of 14.90%. The business had revenue of $23.18 million during the quarter, compared to the consensus estimate of $20.00 million.
ACMR traded down $0.27 during midday trading on Friday, reaching $11.73. The company had a trading volume of 32,700 shares, compared to its average volume of 64,744. The stock has a market cap of $139.63 million and a price-to-earnings ratio of 61.74. ACM Research has a 12-month low of $4.74 and a 12-month high of $15.60.
An institutional investor recently bought a new position in ACM Research stock. Bank of New York Mellon Corp bought a new stake in ACM Research Inc (NASDAQ:ACMR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,399 shares of the specialty retailer’s stock, valued at approximately $188,000. Bank of New York Mellon Corp owned about 0.12% of ACM Research as of its most recent SEC filing. 12.46% of the stock is owned by institutional investors.
A number of brokerages have issued reports on ACMR. Zacks Investment Research downgraded shares of ACM Research from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Craig Hallum upped their price objective on shares of ACM Research from $13.00 to $19.50 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $16.00 price objective on shares of ACM Research in a research report on Wednesday, August 8th. Finally, ValuEngine raised shares of ACM Research from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.13.
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ACM Research Company Profile
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.
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