ACM Research (NASDAQ:ACMR) Shares Down 4.9% – What’s Next?

ACM Research, Inc. (NASDAQ:ACMR)’s share price dropped 4.9% during trading on Thursday . The stock traded as low as $18.46 and last traded at $18.50. Approximately 880,630 shares changed hands during trading, a decline of 40% from the average daily volume of 1,465,984 shares. The stock had previously closed at $19.46.

Analyst Ratings Changes

ACMR has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of ACM Research in a research note on Tuesday, October 1st. Roth Mkm reduced their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reiterated 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 Price Performance

The company has a 50 day moving average of $18.73 and a 200-day moving average of $22.09. The stock has a market capitalization of $1.08 billion, a P/E ratio of 14.39 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 2.29 and a debt-to-equity ratio of 0.07.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.25. ACM Research had a return on equity of 9.16% and a net margin of 12.26%. The firm had revenue of $202.50 million for the quarter, compared to analysts’ expectations of $163.05 million. During the same period last year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. Sell-side analysts predict that ACM Research, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In other ACM Research news, Director Xiao Xing sold 8,304 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the sale, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Science & Technology Shanghai sold 26,300 shares of ACM Research stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total transaction of $526,263.00. Following the sale, the insider now directly owns 3,403,906 shares in the company, valued at $68,112,159.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Xiao Xing sold 8,304 shares of ACM Research 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 sale, the director now owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,116,516 shares of company stock worth $24,573,590 over the last ninety days. 31.24% of the stock is owned by insiders.

Institutional Investors Weigh In On ACM Research

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of 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 purchasing an additional 1,444 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of ACM Research during the second quarter valued at about $59,000. Lazard Asset Management LLC raised its position in 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. Ashton Thomas Private Wealth LLC bought a new stake in ACM Research in the second quarter worth about $99,000. Finally, Palouse Capital Management Inc. bought a new stake in ACM Research in the second quarter worth about $105,000. 66.75% of the stock is currently owned by institutional investors.

ACM Research Company Profile

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.