ACM Research (NASDAQ:ACMR) Stock Falls 6.3% – What’s Next?

ACM Research, Inc. (NASDAQ:ACMR)’s share price fell 6.3% during mid-day trading on Tuesday. The stock traded as low as $64.68 and last traded at $63.7890. 183,065 shares changed hands during trading, a decline of 87% from the average daily volume of 1,375,325 shares. The stock had previously closed at $68.10.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACMR. Morgan Stanley reissued an “overweight” rating and issued a $130.00 price target (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Zacks Research cut ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Daiwa Securities Group assumed coverage on shares of ACM Research in a report on Wednesday, August 26th. They set a “buy” rating and a $136.00 price objective on the stock. Weiss Ratings upgraded shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Roth Capital set a $125.00 target price on shares of ACM Research and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, ACM Research presently has an average rating of “Moderate Buy” and an average target price of $122.75.

ACM Research Price Performance

The stock has a market cap of $4.12 billion, a PE ratio of 30.30 and a beta of 2.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66. The business has a 50 day moving average price of $75.98 and a two-hundred day moving average price of $75.12.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The company had revenue of $292.92 million during the quarter, compared to the consensus estimate of $269.28 million. ACM Research had a return on equity of 4.08% and a net margin of 14.48%. ACM Research’s revenue was up 36.0% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. Research analysts expect that ACM Research, Inc. will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACM Research news, Director Haiping Dun sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total value of $405,650.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $405,650. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Wang sold 70,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total value of $5,221,300.00. Following the sale, the insider directly owned 802,708 shares of the company’s stock, valued at approximately $59,873,989.72. This represents a 8.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 24.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACM Research

Institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC increased its holdings in ACM Research by 16,878.8% in the 1st quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock worth $70,583,000 after acquiring an additional 1,849,914 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in ACM Research by 207.6% during the first quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock valued at $28,286,000 after purchasing an additional 485,282 shares during the last quarter. Bank of America Corp DE lifted its holdings in ACM Research by 33.4% during the first quarter. Bank of America Corp DE now owns 402,412 shares of the specialty retailer’s stock valued at $15,835,000 after purchasing an additional 100,700 shares during the last quarter. First Trust Advisors LP lifted its holdings in ACM Research by 73.7% during the first quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer’s stock valued at $14,716,000 after purchasing an additional 158,664 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in ACM Research during the second quarter worth about $41,402,000. Institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

ACM Research, Inc (NASDAQ: ACMR) develops, manufactures and sells semiconductor wafer-processing equipment used by integrated device manufacturers, foundries and advanced packaging companies. Its systems are designed to support processes involved in producing semiconductor devices, including wafer cleaning, surface preparation and related fabrication steps.

The company’s product portfolio includes single-wafer cleaning systems, batch wafer-cleaning equipment, wet-processing systems and tools for specialized applications such as wafer bevel cleaning and advanced packaging.