Fintel reports that on February 29, 2024, Goldman Sachs upgraded their outlook for ACM Research (NasdaqGM:ACMR) from Neutral to Buy .
Analyst Price Forecast Suggests 13.24% Downside
As of February 24, 2024, the average one-year price target for ACM Research is 26.83. The forecasts range from a low of 22.32 to a high of $33.60. The average price target represents a decrease of 13.24% from its latest reported closing price of 30.92.
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The projected annual revenue for ACM Research is 475MM, a decrease of 14.81%. The projected annual non-GAAP EPS is 0.70.
What is the Fund Sentiment?
There are 325 funds or institutions reporting positions in ACM Research. This is an increase of 9 owner(s) or 2.85% in the last quarter. Average portfolio weight of all funds dedicated to ACMR is 0.25%, an increase of 26.40%. Total shares owned by institutions increased in the last three months by 3.80% to 36,259K shares. 
The put/call ratio of ACMR is 0.35, indicating a bullish outlook.
What are Other Shareholders Doing?
Ariose Capital Management holds 1,981K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 751K shares, representing an increase of 62.09%. The firm increased its portfolio allocation in ACMR by 96.18% over the last quarter.
Bank Of America holds 1,956K shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 2,080K shares, representing a decrease of 6.37%. The firm decreased its portfolio allocation in ACMR by 75.61% over the last quarter.
Citigroup holds 1,737K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 1,766K shares, representing a decrease of 1.67%. The firm decreased its portfolio allocation in ACMR by 56.28% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,422K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 1,331K shares, representing an increase of 6.37%. The firm increased its portfolio allocation in ACMR by 53.44% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,271K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 1,115K shares, representing an increase of 12.24%. The firm decreased its portfolio allocation in ACMR by 4.91% over the last quarter.
ACM Research Background Information
(This description is provided by the company.)
ACM develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing and thermal processes that are critical to advanced semiconductor device manufacturing, as well as wafer-level packaging. The Company is committed to delivering customized, high performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield.
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This story originally appeared on Fintel.
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