New York, Feb 12, 2026, 09:23 ET — Premarket
- Before the market opened, ACM Research shares jumped roughly 12%, adding to a strong rally seen earlier this week.
- Options activity surged Wednesday, driven mainly by March $80 call contracts.
- Investors are gearing up ahead of the company’s quarterly report and outlook update set for Feb. 26.
Shares of ACM Research, Inc. surged 12.3% to $70.68 in premarket trading Thursday, following a close of $62.93 in the previous session.
The move came after a surge in options activity the previous day. ACMR options volume surged to 8,259 contracts on Wednesday, driven largely by heavy trading in March $80 calls, Nasdaq data shows. (Nasdaq)
Why it matters now: the stock is approaching a new catalyst period, with earnings due in under two weeks. ACM announced it will release its fourth-quarter and full-year 2025 results before the U.S. market opens on Feb. 26, followed by a conference call at 8 a.m. ET. (Nasdaq)
Traders are now watching to see if the recent surge sets up a classic “buy the rumor, sell the news” scenario, or if the company’s upcoming earnings will push analysts to revise their 2026 forecasts once more.
ACM, a chipmaking process tool supplier based in Fremont, California, last briefed investors in late January. It lowered its 2025 revenue forecast to a range of $885 million to $900 million but set 2026 revenue targets between $1.08 billion and $1.175 billion. “We plan for a higher revenue growth rate in 2026,” said President and CEO David Wang at that time. (SEC)
That forecast relied on management’s perspective on wafer-fab equipment spending — the capital budgets chipmakers allocate for production tools — combined with customer spending patterns, supply chain bottlenecks, and when tools get accepted in the field.
Investors have also been keeping an eye on the group’s connections to China. According to a Feb. 6 filing, ACM revealed the outcome of a share transfer at its Shanghai unit. Some 4,801,648 shares changed hands at RMB 160 each, dropping the combined stake of the transferor and their concert parties from 74.84% down to 73.72%. (SEC)
Such transactions often prompt scrutiny over their timing and proceeds, as well as the ability to transfer cash across borders. They also tend to trigger short-term trading once the details become public.
But there’s a catch. The stock’s surge in premarket trading leaves scant margin for error, and those early gains often vanish when the market opens and liquidity ramps up.
Policy risk is another factor. ACM’s January outlook specifically highlighted “international trade policies” and customer spending as key variables, which often shift more quickly than tool delivery timelines.
