Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

This Multibagger Semiconductor Stock Has Sharp Upside Despite Capex Headwinds and US Embargo, Analyst Writes

Benchmark analyst Mark Miller reiterated a Buy on ACM Research, Inc (NASDAQ:ACMR) and a $43 price target. ACM Research (Shanghai), Inc posted preliminary…
byAnusuya Lahiri
October 14, 2022
1 minute read
Total
0
Shares
0
0
0
0
0
0
  • Benchmark analyst Mark Miller reiterated a Buy on ACM Research, Inc (NASDAQ:ACMR) and a $43 price target.
  • ACM Research (Shanghai), Inc posted preliminary revenue for the September 30, 2022 quarter between $119 million and $131 million, representing growth of 84% – 101% Y/Y, above the consensus of $110.9 million.
  • With over 90% of its business going to Chinese customers, mainly DRAM manufacturers, ACM’s shares have been under pressure due to CAPEX cuts by chip manufacturers and, more recently, due to new U.S. restrictions that block exports of advanced chips and related equipment to China. 
  • Despite these concerns, the shares appear pretty attractive at the current level. 
  • ACMR reported second-quarter FY22 revenue growth of 93.8% year-on-year to $104.4 million, beating the consensus of $72.3 million. Non-GAAP EPS of $0.22 beat the consensus of $0.05.
  • Revenue from Single wafer cleaning, Tahoe, and semi-critical cleaning equipment rose 59.7% Y/Y to $72.6 million.
  • Price Action: ACMR shares traded lower by 14.20% at $8.13 on the last check Friday.

 

 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Wall Street Sees Post-Holiday Gains, Oil Rallies, Intel Leads: What’s Driving Markets Tuesday?

By Piero Cingari
December 26, 1:47 PM
The U.S. stock market saw modest gains in a session characterized by low trading volumes following the Christmas holiday. The S&P 500 Index gained 0.3% during midday trading in New York, eyeing its all-time highs, which are 1% above the current levels.

AAPL

Read More

Analyst Ratings for Sea

By Benzinga Insights
August 17, 1:24 PM
  Over the past 3 months, 4 analysts have published their opinion on Sea (NYSE:SE) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

SE