Shares of ACM Research, Inc. (NASDAQ:ACMR – Get Free Report) fell 8% during trading on Monday . The stock traded as low as $78.56 and last traded at $77.5620. Approximately 153,017 shares were traded during trading, a decline of 90% from the average session volume of 1,488,948 shares. The stock had previously closed at $84.32.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on ACMR. Roth Capital set a $125.00 price objective on shares of ACM Research and gave the company a “buy” rating in a research note on Wednesday, June 17th. Seaport Research Partners assumed coverage on shares of ACM Research in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACM Research in a research note on Tuesday, July 21st. Wall Street Zen raised shares of ACM Research from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley reissued an “overweight” rating and set a $130.00 price objective (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.50.
Check Out Our Latest Stock Report on ACMR
ACM Research Price Performance
ACM Research (NASDAQ:ACMR – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The business had revenue of $231.26 million during the quarter, compared to the consensus estimate of $215.69 million. During the same quarter last year, the firm posted $0.46 EPS. ACM Research’s revenue was up 34.2% compared to the same quarter last year. As a group, research analysts anticipate that ACM Research, Inc. will post 1.02 EPS for the current year.
Insider Transactions at ACM Research
In related news, insider David H. Wang sold 40,002 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $85.80, for a total value of $3,432,171.60. Following the sale, the insider owned 802,708 shares in the company, valued at $68,872,346.40. This represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Haiping Dun sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total value of $331,100.00. Following the sale, the director directly owned 5,000 shares of the company’s stock, valued at $331,100. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,752 shares of company stock valued at $10,752,198 over the last three months. Corporate insiders own 24.36% of the company’s stock.
Hedge Funds Weigh In On ACM Research
Large investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. boosted its holdings in ACM Research by 2.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the specialty retailer’s stock worth $662,000 after acquiring an additional 115 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of ACM Research by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 7,764 shares of the specialty retailer’s stock valued at $306,000 after purchasing an additional 168 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of ACM Research by 14.5% in the second quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer’s stock valued at $183,000 after purchasing an additional 182 shares during the last quarter. MML Investors Services LLC lifted its position in shares of ACM Research by 1.0% during the fourth quarter. MML Investors Services LLC now owns 22,851 shares of the specialty retailer’s stock valued at $901,000 after purchasing an additional 217 shares in the last quarter. Finally, First Growth Capital LLC lifted its position in shares of ACM Research by 5.4% during the first quarter. First Growth Capital LLC now owns 5,598 shares of the specialty retailer’s stock valued at $226,000 after purchasing an additional 285 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors.
About ACM Research
ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.
Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.
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