ACM Research (NASDAQ:ACMR) Shares Down 5.6% – What’s Next?

ACM Research, Inc. (NASDAQ:ACMR)’s stock price fell 5.6% during mid-day trading on Tuesday . The company traded as low as $17.24 and last traded at $17.40. 923,569 shares changed hands during trading, a decline of 35% from the average session volume of 1,426,980 shares. The stock had previously closed at $18.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Roth Mkm dropped their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of ACM Research in a report on Tuesday, October 1st. Finally, Benchmark reissued a “buy” rating and set a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th.

ACM Research Trading Down 6.2 %

The firm has a market capitalization of $996.58 million, a P/E ratio of 13.97 and a beta of 1.54. The business’s 50 day moving average is $19.23 and its two-hundred day moving average is $20.26. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The business had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. During the same period last year, the firm posted $0.41 earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. Analysts expect that ACM Research, Inc. will post 1.12 EPS for the current year.

Insider Activity

In other news, Director Xiao Xing sold 8,304 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total transaction of $167,657.76. Following the completion of the transaction, the director now owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Mckechnie sold 16,516 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $22.00, for a total transaction of $363,352.00. Following the sale, the insider now directly owns 900 shares of the company’s stock, valued at approximately $19,800. This represents a 94.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,116,516 shares of company stock worth $24,573,590. 31.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACM Research

Hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH acquired a new position in shares of ACM Research in the 3rd quarter valued at $37,000. CWM LLC lifted its stake in ACM Research by 297.1% during the second quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 1,444 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of ACM Research in the second quarter worth about $59,000. Lazard Asset Management LLC increased its position in shares of ACM Research by 1,197.6% in the first quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock worth $93,000 after acquiring an additional 2,970 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of ACM Research in the 3rd quarter valued at approximately $72,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

About ACM Research

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.