ACM Research, Inc. (NASDAQ:ACMR) Insider David H. Wang Sells 90,000 Shares

ACM Research, Inc. (NASDAQ:ACMR) insider David H. Wang sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total transaction of $2,052,900.00. Following the completion of the sale, the insider now owns 590,108 shares in the company, valued at $13,460,363.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ACM Research Stock Up 1.3 %

Shares of NASDAQ:ACMR traded up $0.28 during midday trading on Friday, hitting $22.56. The stock had a trading volume of 970,371 shares, compared to its average volume of 1,239,296. ACM Research, Inc. has a 12 month low of $9.36 and a 12 month high of $34.40. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $27.24 and its 200-day simple moving average is $22.52. The company has a market cap of $1.29 billion, a P/E ratio of 17.09 and a beta of 1.42.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.27. The business had revenue of $170.30 million during the quarter, compared to analysts’ expectations of $149.54 million. ACM Research had a net margin of 13.79% and a return on equity of 10.26%. ACM Research’s revenue was up 57.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, sell-side analysts forecast that ACM Research, Inc. will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACM Research

A number of institutional investors and hedge funds have recently modified their holdings of ACMR. Spire Wealth Management bought a new position in ACM Research during the 3rd quarter valued at $27,000. Federated Hermes Inc. purchased a new stake in ACM Research in the 3rd quarter worth about $46,000. Lazard Asset Management LLC increased its holdings in ACM Research by 1,197.6% in the 1st 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 during the last quarter. Headlands Technologies LLC purchased a new stake in ACM Research in the 4th quarter worth about $66,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in ACM Research in the 3rd quarter worth about $68,000. 66.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ACMR shares. The Goldman Sachs Group raised shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price on shares of ACM Research in a research note on Thursday, May 9th. Finally, Benchmark increased their price objective on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $31.88.

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.