David Wang Sells 70,000 Shares of ACM Research (NASDAQ:ACMR) Stock

ACM Research, Inc. (NASDAQ:ACMR) insider David Wang sold 70,000 shares of ACM Research stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total value of $5,221,300.00. Following the completion of the sale, the insider directly owned 802,708 shares of the company’s stock, valued at approximately $59,873,989.72. This trade represents a 8.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ACM Research Stock Performance

ACM Research stock traded down $1.44 during midday trading on Thursday, reaching $72.39. The stock had a trading volume of 705,417 shares, compared to its average volume of 1,396,271. The firm has a market capitalization of $4.68 billion, a PE ratio of 34.47 and a beta of 1.96. ACM Research, Inc. has a 12 month low of $28.46 and a 12 month high of $127.19. The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $82.95 and its 200 day moving average price is $71.58.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $292.92 million during the quarter, compared to analyst estimates of $269.28 million. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The company’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. As a group, research analysts predict that ACM Research, Inc. will post 1.68 earnings per share for the current fiscal year.

Institutional Trading of ACM Research

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its stake in ACM Research by 266.7% in the 4th quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of ACM Research during the 4th quarter valued at $28,000. Harbor Investment Advisory LLC grew its position in shares of ACM Research by 195.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 738 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 488 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of ACM Research by 381.0% in the first quarter. NewEdge Advisors LLC now owns 1,087 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 861 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of ACM Research by 656.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 1,122 shares during the period. Institutional investors own 66.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ACMR. Morgan Stanley reiterated an “overweight” rating and issued a $130.00 price objective (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Weiss Ratings upgraded ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Roth Capital set a $125.00 price target on ACM Research and gave the stock a “buy” rating in a report on Wednesday, June 17th. Craig Hallum reiterated a “buy” rating and issued a $100.00 price target on shares of ACM Research in a research report on Monday, August 10th. Finally, Daiwa Securities Group initiated coverage on ACM Research in a research note on Wednesday, August 26th. They set a “buy” rating and a $136.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $122.75.

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.