ACM Research (NASDAQ:ACMR) Stock Price Down 6.5% – Here’s Why

ACM Research, Inc. (NASDAQ:ACMR) traded down 6.5% during trading on Thursday . The stock traded as low as $74.98 and last traded at $75.4060. 167,139 shares changed hands during trading, a decline of 88% from the average session volume of 1,384,144 shares. The stock had previously closed at $80.67.

Analysts Set New Price Targets

A number of analysts have commented on ACMR shares. Daiwa Securities Group assumed coverage on shares of ACM Research in a report on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Zacks Research raised shares of ACM Research from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Weiss Ratings upgraded ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $100.00 target price on shares of ACM Research in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, ACM Research currently has an average rating of “Buy” and a consensus target price of $122.75.

ACM Research Price Performance

The firm’s fifty day moving average price is $77.45 and its 200 day moving average price is $72.39. 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 stock has a market cap of $4.84 billion, a PE ratio of 35.77 and a beta of 1.96.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The business had revenue of $292.92 million during the quarter, compared to analysts’ expectations of $269.28 million. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. As a group, equities analysts expect that ACM Research, Inc. will post 1.68 EPS for the current fiscal year.

Insider Activity

In other ACM Research news, insider David H. Wang sold 70,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total value of $5,221,300.00. Following the transaction, the insider directly owned 802,708 shares in the company, valued at $59,873,989.72. This represents a 8.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Haiping Dun sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total value of $405,650.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $405,650. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. 24.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new position in ACM Research in the 2nd quarter worth approximately $332,000. Integrated Wealth Concepts LLC purchased a new position in ACM Research during the 2nd quarter worth approximately $346,000. Nykredit A S acquired a new stake in ACM Research during the 2nd quarter valued at approximately $173,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in ACM Research during the 2nd quarter valued at approximately $622,000. Finally, Odyssean LLC boosted its holdings in shares of ACM Research by 26.7% in the 2nd quarter. Odyssean LLC now owns 19,180 shares of the specialty retailer’s stock valued at $2,434,000 after acquiring an additional 4,043 shares during the last quarter. 66.75% of the stock is owned by institutional investors.

ACM Research Company Profile

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor manufacturing and advanced packaging. Its products are designed for wafer processing steps that help semiconductor manufacturers clean, prepare and deposit materials on silicon wafers and other substrates.

The company’s product portfolio includes single-wafer cleaning systems, wet-processing equipment, electrochemical deposition systems, furnace systems and equipment for advanced packaging applications. Its cleaning technologies include the Space Alternated Phase Shift (SAPS) and Tahoe platforms, which are intended to remove contaminants and residues while supporting the production of increasingly complex semiconductor devices.

Founded in 1998, ACM Research is headquartered in Fremont, California, and serves semiconductor manufacturers and other customers through operations and facilities in the United States, China and other international markets.