13 High Growth Semiconductor Stocks That Are Profitable in 2024

2. ACM Research, Inc. (NASDAQ:ACMR)

TTM P/E Ratio: 27.82

3-Yr. Average Revenue Growth rate: 52.71%

Number of Q4 2023 Hedge Fund Shareholders: 21

ACM Research, Inc. (NASDAQ:ACMR) is a California-based firm that enables chip manufacturers to maintain their yield and product quality. Its shares are up by 25% year to date, mainly on the back of a rally that started in late February after ACM Research, Inc. (NASDAQ:ACMR) posted a 43% bump in annual revenue last year alongside a 96% net income boost.

As of the end of 2023, 21 funds tracked by Insider Monkey were ACM Research, Inc. (NASDAQ:ACMR)’s shareholders. Yi Xin’s Ariose Capital owned the biggest stake which was worth $38.7 million.

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