ACM Research (NASDAQ:ACMR) Shares Down 4.9% – Here’s What Happened

Shares of ACM Research, Inc. (NASDAQ:ACMR) dropped 4.9% during mid-day 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.

Analysts Set New Price Targets

Several research firms have recently commented on ACMR. 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. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of ACM Research in a report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of ACM Research in a research note on Tuesday, October 1st.

ACM Research Price Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of 14.55 and a beta of 1.52. The company has a 50 day moving average of $18.72 and a 200-day moving average of $21.99. 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 posted its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The company had revenue of $202.50 million for the quarter, compared to the consensus estimate of $163.05 million. During the same period last year, the firm posted $0.45 EPS. The company’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 Activity at ACM Research

In other ACM Research news, major shareholder Science & Technology Shanghai sold 26,300 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total value of $526,263.00. Following the sale, the insider now directly owns 3,403,906 shares of the company’s stock, valued at $68,112,159.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ACM Research news, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total value of $526,263.00. Following the completion of the transaction, the insider now owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Xiao Xing sold 90,396 shares of ACM Research stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $21.13, for a total value of $1,910,067.48. Following the sale, the director now directly owns 2,338,510 shares in the company, valued at approximately $49,412,716.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,116,516 shares of company stock worth $24,573,590 in the last 90 days. 31.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. 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 position in shares of ACM Research in the second quarter valued at approximately $59,000. Lazard Asset Management LLC increased its stake in shares of ACM Research by 1,197.6% during the first quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock valued at $93,000 after acquiring an additional 2,970 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in ACM Research during the second quarter worth approximately $99,000. Finally, Palouse Capital Management Inc. bought a new stake in ACM Research during the second quarter worth approximately $105,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

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.