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FREMONT, Calif. – ACM Research, Inc. (NASDAQ:ACMR), a supplier of wafer processing solutions with a market capitalization of $1.88 billion, announced the appointment of Charlie Pappis to its Board of Directors on Monday. This addition expands the board to five members, aiming to bolster the company’s leadership amidst its growth strategy, which has already delivered impressive 40% revenue growth over the last twelve months.
Charlie Pappis brings over four decades of experience in the semiconductor industry to ACM’s board. As a seasoned professional, he has a track record in global operations, customer engagement, and business growth. Pappis is the President of Pappis Consulting and has previously served in executive roles at a leading U.S.-based semiconductor equipment firm. His academic credentials include a Bachelor of Science in Materials Science and an Executive MBA. According to InvestingPro, ACM’s stock has shown strong momentum with a 98.54% return year-to-date, reflecting investor confidence in the company’s direction.
Dr. David Wang, President and CEO of ACM, expressed confidence that Pappis’s deep industry knowledge and leadership would be crucial as the company seeks to expand its U.S. investments and explore new markets beyond mainland China.
ACM Research develops and sells semiconductor process equipment for various manufacturing steps, focusing on delivering high-performance, cost-effective solutions. The company’s product portfolio includes cleaning, electroplating, and wafer packaging tools, among others.
The information for this article is based on a press release statement.
In other recent news, ACM Research, Inc. reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an earnings per share (EPS) of $0.56, compared to a forecast of $0.3357. The company also reported revenue of $223.5 million for the quarter, exceeding the forecast of $181.08 million, marking a 31.2% year-over-year increase. For the full year, ACM Research’s revenue reached $782.1 million, representing a 40.2% increase from the previous year. The company projects 2025 revenue of $850-950 million, reflecting a 15% year-over-year growth. In analyst coverage, JPMorgan initiated coverage on ACM Research with an Overweight rating and a price target of $36.00, highlighting the company’s strong position in the semiconductor industry, particularly in the China market. JPMorgan’s endorsement is based on ACM Research’s robust customer base among Chinese fabrication plants and its potential to capitalize on the expanding Serviceable Available Market within the Wafer Fabrication Equipment sector. The company’s leadership in cleaning technologies and its growth in other semiconductor processing areas present a promising outlook.
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