ACM Research (NASDAQ:ACMR) Stock Price Down 6.5% – Here’s What Happened

Shares of ACM Research, Inc. (NASDAQ:ACMR) were down 6.5% during mid-day trading on Thursday . The stock traded as low as $74.98 and last traded at $75.4060. Approximately 167,139 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,384,144 shares. The stock had previously closed at $80.67.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Daiwa Securities Group started coverage on ACM Research in a research report on Wednesday, August 26th. They issued a “buy” rating and a $136.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $130.00 target price (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. Weiss Ratings upgraded shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded shares of ACM Research from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $100.00 price objective on shares of ACM Research in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat, ACM Research presently has a consensus rating of “Buy” and a consensus target price of $122.75.

ACM Research Price Performance

The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $4.84 billion, a PE ratio of 35.77 and a beta of 1.96. The company has a 50-day moving average of $77.45 and a 200 day moving average of $72.39.

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

Insider Activity

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

Institutional Investors Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently modified their holdings of ACMR. Hantz Financial Services Inc. raised its stake in ACM Research by 266.7% in the fourth quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 480 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of ACM Research during the 4th quarter worth about $28,000. Harbor Investment Advisory LLC raised its position in shares of ACM Research by 195.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 738 shares of the specialty retailer’s stock worth $94,000 after acquiring an additional 488 shares in the last quarter. NewEdge Advisors LLC lifted its stake in ACM Research by 381.0% during the first quarter. NewEdge Advisors LLC now owns 1,087 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 861 shares during the last quarter. Finally, Nykredit A S purchased a new stake in ACM Research during the second quarter worth approximately $173,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

About ACM Research

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor manufacturing and advanced packaging. Its products are designed for wafer processing steps that help semiconductor manufacturers clean, prepare and deposit materials on silicon wafers and other substrates.

The company’s product portfolio includes single-wafer cleaning systems, wet-processing equipment, electrochemical deposition systems, furnace systems and equipment for advanced packaging applications. Its cleaning technologies include the Space Alternated Phase Shift (SAPS) and Tahoe platforms, which are intended to remove contaminants and residues while supporting the production of increasingly complex semiconductor devices.

Founded in 1998, ACM Research is headquartered in Fremont, California, and serves semiconductor manufacturers and other customers through operations and facilities in the United States, China and other international markets.