ACM Research rises on FY23 revenue forecast raise

ACM Research

09/01/2024 14:26

** Shares of semiconductor equipment maker ACM Research
 ACMR.O  rise 5.7% to $18 premarket
    ** Co raises FY23 revenue forecast range to $530 mln-$545
mln from its prior forecast of $520 mln-$540 mln 
    ** Co lifts forecast as it anticipates "solid" investments
from its China customers 
    ** Co forecasts 2024 revenue between $650 mln and $725 mln
    ** Out of seven analyst tracking ACMR, six rate it "buy" or
higher and one rate "hold" - LSEG data
    ** Stock rose 153% in 2023

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com))