Steamboat Capital Partners explain why they believe in ACM Research

seekingalpha04-30

Steamboat Capital Partners added ACM Research (NASDAQ:ACMR) to their long portfolio, and its analysts said the company is still under the radar and has potential for substantial profit growth and ...

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23:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4096468-steamboat-capital-partners-explain-why-they-believe-in-acm-research><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Steamboat Capital Partners added ACM Research (NASDAQ:ACMR) to their long portfolio, and its analysts said the company is still under the radar and has potential for substantial profit growth and ...</p>\n\n<a href=\"https://seekingalpha.com/news/4096468-steamboat-capital-partners-explain-why-they-believe-in-acm-research\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0957808578.USD","symbol_name":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) 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Managing Partner Parsa Kiai wrote that ACM Research (ACMR) is the Chinese domestic substation as the country seeks to replace foreign technology suppliers. “This trend has many historical analogs and is evident in the respective growth rates in the Chinese wafer fabrication equipment market for global peers such as Applied Materials (AMAT) and Lam Research (LRCX), and domestic suppliers such as ACM Research (ACMR) and Naura Technology Group.”  ACM Research (ACMR) grew 43% last year and it may grow a further 30% this year, according to Steamboat Capital Partners. For comparison, Applied Materials (AMAT) grew only 3% in 2023, and has an estimated 1% growth for 2024. In addition, ACM Research (ACMR) is likely to exceed its 2024 revenue growth expectation while being valued at almost half of Naura Technology Group. “We estimate that the upside potential of ACM Research (ACMR) beyond 2024 can be even higher given its domestic market prospects and its nascent international markets, which we estimate will start to show revenues this year and could rival its Chinese operations in size over time,” Kiai wrote. Lastly, the company’s China subsidiary, which is publicly traded in Shanghai, is almost twice the valuation of its parent company -- 82% is owned by the U.S. parent company. “We believe this is an additional source of opportunity, beyond the company’s fundamental growth prospects, as we think the parent company can monetize this valuation gap through primary and secondary sales of stock at ACM Research Shanghai (upon the expiration of the Shanghai IPO lockup).”","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2431371919"}