ACM Research Inc

Company Overview: ACM Research, Inc. (NASDAQ: ACMR) develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, polishing and thermal processes that are critical to advanced semiconductor device manufacturing, as well as wafer-level packaging. The Company offers two principal models of wet wafer cleaning equipment based on its Space Alternated Phase Shift (SAPS) technology, Ultra C SAPS II and Ultra C SAPS V.

As per our previous US Diversified Opportunities Report published on ‘ACMR’ on 12^th September 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 16.64 based on “recent key business and financial updates, increased net sales, attractive valuation, lower debt profile, mentioned key risks, and technical indicators analysis” and the stock price has now moved by ~55.89% since then and has attained resistance 1 and resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

ACMR’s Daily Chart

Considering the current trading levels, resistance 1 and resistance 2 attainment, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “ACMR” at the current market price of USD 25.94 (as of 10 October 2024, at 06:40 am PDT).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is October 10, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’