ACM Research (NASDAQ:ACMR) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of ACM Research (NASDAQ:ACMR) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks reports.

A number of other brokerages have also issued reports on ACMR. Weiss Ratings lowered ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 24th. Daiwa Securities Group assumed coverage on ACM Research in a research report on Wednesday, August 26th. They issued a “buy” rating and a $136.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Craig Hallum reiterated a “buy” rating and set a $100.00 target price on shares of ACM Research in a research report on Monday, August 10th. Finally, Roth Capital set a $125.00 target price on shares of ACM Research and gave the company a “buy” rating in a research note on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.75.

ACM Research Price Performance

Shares of ACM Research stock opened at $70.80 on Tuesday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 33.71 and a beta of 2.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66. The stock has a 50 day moving average price of $76.33 and a 200-day moving average price of $74.77. ACM Research has a one year low of $28.46 and a one year high of $127.19.

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

Insider Transactions at ACM Research

In related news, Director Haiping Dun sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total transaction of $405,650.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $405,650. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David H. Wang sold 70,000 shares of the business’s 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 sale, the insider owned 802,708 shares in the company, valued at $59,873,989.72. The trade was a 8.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 24.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. WCM Investment Management LLC raised its stake in shares of ACM Research by 16,878.8% during the 1st quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock valued at $70,583,000 after buying an additional 1,849,914 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of ACM Research in the second quarter worth about $41,402,000. Dimensional Fund Advisors LP boosted its stake in shares of ACM Research by 207.6% in the first quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock worth $28,286,000 after buying an additional 485,282 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of ACM Research by 23.8% in the third quarter. Congress Asset Management Co. now owns 277,150 shares of the specialty retailer’s stock worth $22,427,000 after buying an additional 53,295 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in ACM Research during the second quarter worth about $22,204,000. 66.75% of the stock is owned by institutional investors and hedge funds.

About ACM Research

ACM Research, Inc (NASDAQ: ACMR) develops, manufactures and sells semiconductor wafer-processing equipment used by integrated device manufacturers, foundries and advanced packaging companies. Its systems are designed to support processes involved in producing semiconductor devices, including wafer cleaning, surface preparation and related fabrication steps.

The company’s product portfolio includes single-wafer cleaning systems, batch wafer-cleaning equipment, wet-processing systems and tools for specialized applications such as wafer bevel cleaning and advanced packaging.