Goldman Sachs Raises PT on ACM Research From $35.3 to $40.1, Keeping Buy Rating on the Stock

ACM Research Inc. (NASDAQ:ACMR) is one of the 12 Best Semiconductor Equipment Stocks to Buy Right Now. On August 25, Goldman Sachs raised the price target on ACM Research Inc. (NASDAQ:ACMR) from $35.3 to $40.1, keeping a Buy rating on the stock.

Allen Chang from Goldman Sachs increased the price target on ACMR following the Q2 FY2025 results. ACM Research posted $215.4 million in revenue, up 6.4% year-over-year and achieving sequential growth of 25%, driven by repeat orders for its new Ultra C wb Wet Bench Cleaning Tool. The company is expanding its product portfolio with new platforms, including Track, PECVD, and panel leveling tools, which are expected to drive long-term growth.

Chang is optimistic about ACM Research as the company sees its long-term revenue target for China to grow to $2.5 billion, indicating confidence in market growth. The company has also reiterated its FY2025 guidance range of $850 million to $950 million.

As of August 29, ACM Research Inc.’s (NASDAQ:ACMR) average price target of $36, based on analysts’ estimates, implies an upside of nearly 27.57% from current levels.

ACM Research Inc. (NASDAQ:ACMR) develops, manufactures, and sells semiconductor process equipment for various businesses, including cleaning, electroplating, stress-free polishing, and wafer- and panel-level packaging tools, among others.

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Disclosure: None. This article is originally published at Insider Monkey.