ACM Research Shares Experience Notable Dip Amid Market Activity

There has been notable market activity regarding ACM Research, Inc. (NASDAQ: ACMR), as shares experienced a gap down this Tuesday. The price of the stock took a downturn from its previous close at $28.63, opening the day's trading at $27.75. Subsequently, shares went on to trade at a lower point of $25.35, with a significant trading volume of 723,652 shares.

Analysts Anticipate Growth for ACM Research

A cluster of Wall Street analysts have offered their insights on ACM Research's future, with several increasing their price targets and maintaining a positive outlook on the company. Benchmark adjusted their price target from $35 to $38, while Needham & Company LLC revised theirs from $24 to $34. Moreover, The Goldman Sachs Group elevated their stance from 'neutral' to 'buy' with a target of $39, and Roth Mkm raised their price target from $20 to $25. Considering these reviews, ACMR stock maintains a collective 'Buy' recommendation with an anticipated average price target of $31.88 according to MarketBeat.com data.

Financial Highlights and Insider Trades

ACM Research has reported promising financial results, announcing an earnings per share (EPS) of $0.43 for the quarter, which exceeded the consensus estimate by $0.27. Year-over-year, the company's revenue surged by 57%, from $149.54 million to $170.30 million. Looking ahead, analysts predict a $1.22 EPS for the current fiscal year. Additionally, insider trading activity has been observed, where significant shares were sold by insiders Lisa Feng and Tracy Liu, hinting at the company's internal stakeholders' actions.

Hedge Funds Interest in ACM Research

Recent activity by hedge funds indicates new stakes and increased investments in ACM Research. Notable transactions involve Spire Wealth Management initiating a position valued at approximately $27,000, and Advisor Group Holdings Inc., which increased its holdings by 166.4%. Great West Life Assurance Co. Can also boosted their stake by over 200%. Institutional investors and hedge funds hold 59.31% of ACMR's stock, suggesting substantial interest and confidence in the company from the financial community.

About ACM Research, Inc.

ACM Research, Inc. specializes in developing and manufacturing single-wafer wet cleaning equipment essential for integrated chip manufacturing globally. Their innovative techniques and technologies have placed them as a forerunner in the semiconductor industry. With increasing demand for cleaner and more efficient chip production, ACM Research continues to make significant strides in this highly competitive sector.

ACMResearch, Stocks, Market