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However, in April, the company warned that March quarter results were likely to fall short of guidance due to COVID-related restrictions in Shanghai that have impacted employee access, production and logistics and ACMR's ability to ship finished products to customers. ACM Research's revenues rose 66% year-over-year in 2021 and earnings per share (EPS) grew 73%.

The company ramped production of new products in 2021 and is on track to double its addressable market opportunity by adding two new product categories. ACMR's technology is protected by more than 350 issued patents. The company primarily supplies single-wafer cleaning equipment and considers its cleaning tools best-in-class, offering higher yields and greater efficiency than competitor equipment. Kicking off our list of stock split stocks is ACM Research ( ACMR (opens in new tab), $11.63), which develops and manufactures semiconductor processing equipment for wafer-level production applications.