ACM Research (NASDAQ:ACMR) Shares Down 7.6% – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR)’s stock price traded down 7.6% during mid-day trading on Monday . The stock traded as low as $95.22 and last traded at $95.14. 243,119 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,535,571 shares. The stock had previously closed at $103.00.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reiterated an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. 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. Weiss Ratings upgraded shares of ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Finally, Seaport Research Partners began coverage on ACM Research in a research report on Monday, May 4th. They set a “buy” rating and a $75.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.50.

ACM Research Stock Performance

The company has a current ratio of 3.51, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 71.92 and a beta of 1.90. The stock’s 50 day moving average is $86.11 and its 200 day moving average is $63.34.

ACM Research (NASDAQ:ACMR) last announced its earnings results on Thursday, May 7th. The specialty retailer reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $231.26 million for the quarter, compared to analysts’ expectations of $215.69 million. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.ACM Research’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, analysts predict that ACM Research, Inc. will post 1.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David H. Wang sold 60,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $90.05, for a total transaction of $5,403,000.00. Following the sale, the insider owned 802,708 shares in the company, valued at $72,283,855.40. This trade represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Haiping Dun sold 5,000 shares of ACM Research stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $66.22, for a total value of $331,100.00. Following the completion of the sale, the director owned 5,000 shares of the company’s stock, valued at $331,100. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 128,752 shares of company stock worth $11,012,198. 24.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ACM Research by 10.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,061 shares of the specialty retailer’s stock worth $748,000 after purchasing an additional 3,065 shares in the last quarter. Caxton Associates LLP bought a new stake in ACM Research in the first quarter valued at about $250,000. Strs Ohio bought a new position in ACM Research during the first quarter worth $133,000. Creative Planning bought a new stake in shares of ACM Research during the 2nd quarter valued at about $212,000. Finally, Norges Bank bought a new position in shares of ACM Research during the second quarter valued at approximately $739,000. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Company Profile

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.