** Shares of semiconductor equipment maker ACM Research ACMR.O up 5.3% at $38.64, a nearly 4-yr high, as it's set to join S&P SmallCap 600 index .SPCY later this week

** Co will replace WK Kellogg KLG.N in the SPCY effective before the bell on Fri, Sept 26, the S&P Dow Jones Indices said late Mon

** Cereal maker KLG being bought by Italy's Ferrero Rocher in $3 bln deal slated to close on Fri

** Fremont, California-based ACMR has ~64.2 mln shares outstanding for roughly $2.35 bln market cap

** ACMR shares on Mon rose 2.2% to $36.68, extending YTD gain to 143%

** 7 of 8 analysts covering ACMR rate the stock "strong buy" or "buy", 1 has "hold"; median PT is $37, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com ; 1-646-279-6380))