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Acm Research Inc (ACMR)



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Upturn Advisory Summary
09/16/2025: ACMR (2-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $35.36
1 Year Target Price $35.36
4 | Strong Buy |
4 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -13.12% | Avg. Invested days 35 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.91B USD | Price to earnings Ratio 17.97 | 1Y Target Price 35.36 |
Price to earnings Ratio 17.97 | 1Y Target Price 35.36 | ||
Volume (30-day avg) 9 | Beta 1.43 | 52 Weeks Range 13.87 - 32.54 | Updated Date 09/16/2025 |
52 Weeks Range 13.87 - 32.54 | Updated Date 09/16/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.66 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 13.76% | Operating Margin (TTM) 14.72% |
Management Effectiveness
Return on Assets (TTM) 4.91% | Return on Equity (TTM) 12.68% |
Valuation
Trailing PE 17.97 | Forward PE 14.79 | Enterprise Value 1709594614 | Price to Sales(TTM) 2.35 |
Enterprise Value 1709594614 | Price to Sales(TTM) 2.35 | ||
Enterprise Value to Revenue 2.1 | Enterprise Value to EBITDA 9.4 | Shares Outstanding 59159200 | Shares Floating 52548807 |
Shares Outstanding 59159200 | Shares Floating 52548807 | ||
Percent Insiders 15.04 | Percent Institutions 70.31 |
Upturn AI SWOT
Acm Research Inc

Company Overview
History and Background
ACM Research, Inc. (ACMR) was founded in 1998. It is a supplier of wafer cleaning and other equipment used by semiconductor manufacturers. The company has expanded its product portfolio and global reach over time, focusing on addressing challenges in advanced integrated circuit manufacturing.
Core Business Areas
- Wafer Cleaning Equipment: ACM Research develops, manufactures, and sells wafer cleaning equipment used in various stages of semiconductor manufacturing, including front-end and back-end processes.
- Advanced Packaging Equipment: The company provides equipment for advanced packaging processes, which are crucial for creating smaller, faster, and more efficient semiconductor devices.
- Other Equipment: ACM Research also offers equipment used in other semiconductor manufacturing processes, such as electroplating and stress-free polishing. The goal is to broaden the product line to enhance it and allow for more market share.
Leadership and Structure
The company has a board of directors and an executive management team. David Wang serves as the CEO. The organizational structure includes departments focused on sales, marketing, engineering, manufacturing, and finance.
Top Products and Market Share
Key Offerings
- SAPPHIRE Cleaning System: High performance cleaning system for advanced processes, including 3D NAND, DRAM, and logic devices. It can perform wet cleaning steps at a lower cost with better performance. Market share data is not readily available but significant revenue is generated from this line. Key competitors include Lam Research and Tokyo Electron.
- Ultra ECP System: Electrochemical plating system for advanced packaging applications, mainly for copper pillar plating. Competitors include Applied Materials and SCREEN Semiconductor Solutions. Market share data is not readily available; revenue is significant.
Market Dynamics
Industry Overview
The semiconductor equipment industry is characterized by high technological complexity, intense competition, and cyclical demand. Growth is driven by advancements in semiconductor technology and increasing demand for electronic devices.
Positioning
ACM Research is positioned as a growing player in the semiconductor equipment industry, focusing on specialized wafer cleaning and advanced packaging solutions. It aims to compete by offering cost-effective and innovative solutions.
Total Addressable Market (TAM)
The semiconductor equipment market is valued in the tens of billions of dollars annually. ACM Research is positioned to capture a growing share of this TAM by focusing on specialized segments and expanding its customer base.
Upturn SWOT Analysis
Strengths
- Specialized Technology
- Growing Market Share
- Strong Customer Relationships in China
- Competitive Pricing
Weaknesses
- Smaller Scale Compared to Major Competitors
- Geographic Concentration (reliance on China)
- Dependence on a Few Key Customers
- Volatility in financial performance
Opportunities
- Expanding into New Geographic Markets
- Developing New Products for Emerging Applications
- Capitalizing on Growth in Advanced Packaging
- Increased Government Support in China
Threats
- Intense Competition
- Technological Disruptions
- Economic Downturns
- Trade Restrictions and Geopolitical Risks
Competitors and Market Share
Key Competitors
- LAM
- AMAT
- TEL
Competitive Landscape
ACM Research faces intense competition from larger, more established players. Its competitive advantage lies in its specialized technology, strong customer relationships in China, and competitive pricing. ACM Research disadvantages include a smaller overall scale of operations and geographic concentration.
Major Acquisitions
No Acquisition Made
- Year: 2024
- Acquisition Price (USD millions): 0
- Strategic Rationale: No acqusitions.
Growth Trajectory and Initiatives
Historical Growth: Historical growth rates can be obtained from public financial reporting services
Future Projections: Analyst future projections can be found at public financial reporting services
Recent Initiatives: Recent strategic initiatives often revolve around product development, geographic expansion, and customer acquisition.
Summary
ACM Research is a growing player in the semiconductor equipment industry with strengths in specialized cleaning equipment and a strong presence in China. The company faces competition from larger players and needs to diversify its geographic reach and customer base. Recent initiatives focused on new products and expansion into the electroplating market look promising. Despite its strengths, ACM Research needs to manage geopolitical risks and the volatile nature of the semiconductor industry. Its growth trajectory is tied to both product innovation and continued expansion within its target markets.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Public SEC Filings
- Analyst Reports
- Industry News
Disclaimers:
This analysis is based on available information and is not financial advice. Market conditions and company performance are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Acm Research Inc
Exchange NASDAQ | Headquaters Fremont, CA, United States | ||
IPO Launch date 2017-11-03 | Founder, Chairman, CEO & President Dr. Hui Wang Ph.D. | ||
Sector Technology | Industry Semiconductor Equipment & Materials | Full time employees 2023 | Website https://www.acmr.com |
Full time employees 2023 | Website https://www.acmr.com |
ACM Research, Inc., together with its subsidiaries, develops, manufactures, and sells capital equipment worldwide. It also develops, manufactures, and sells a range of packaging tools to wafer assembly and packaging customers. The company provides Wet Cleaning Equipment for Front End Production Processes; Ultra C SAPS II and Ultra C SAPS V which are a single-wafer, serial-processing tool used to remove random defects from wafer surfaces or interconnects and barrier metals as part of the chip front-end fabrication process or for recycling test wafers; and Ultra C TEBO II and Ultra C TEBO V, a single-wafer, serial-processing tool used at numerous manufacturing processing steps for cleaning of chips at process nodes of 28nm or less. In addition, it offers Ultra-C Tahoe wafer cleaning tool that delivers high cleaning performance using significantly less sulfuric acid and hydrogen peroxide than is typically consumed by conventional high-temperature single-wafer cleaning tools; and advanced packaging tools, such as coaters, developers, photoresist strippers, scrubbers, wet etchers, and copper-plating tools. Further, the company provides e Ultra fn Furnace, a dry processing tool; Ultra Pmax" PECVD tool, for film uniformity; Ultra Track tool, a 300mm process tool that delivers air downflow, robot handling, and customizable software to address specific customer requirements; and a suite of semi-critical cleaning systems which include single wafer back side cleaning, scrubber, and auto bench cleaning tools. It markets and sells its products under the SAPS, TEBO, ULTRA C, ULTRA Fn, Ultra ECP, Ultra ECP map, and Ultra ECP ap trademarks through direct sales force and third-party representatives. ACM Research, Inc. was incorporated in 1998 and is headquartered in Fremont, California.

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