ACM Research surges after upbeat FY23 revenue forecast

ACM Research

03/01/2023 13:35

** Shares of semiconductor gear maker ACM Research Inc
 ACMR.O  up 22.9% at $9.48 premarket
    ** Stock set to open at a near three week high
    ** ACMR sees FY23 rev. in the range of $515 mln - $585 mln,
based on co's current assessment of potential impact from
current U.S.-China trade policy and assuming a COVID-19
reopening in China, among other factors  urn:newsml:reuters.com:*:nGNX7qksx0
    ** FY23 rev. guidance above analyst's expectations of $414.9
mln as per IBES Refinitiv data
    ** Co reaffirms its FY22 rev. outlook of $365 mln - $385
mln, as provided in its Q3 earnings release on Nov. 4 
    ** ACMR plans to release Q4 and FY22 results in late
February 2023
    ** Four of eight brokerages rate the stock "buy", four
"hold"; their median PT is $15
    ** Stock fell 72.9% in 2022
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))