ACM Research (NASDAQ:ACMR) Shares Gap Down to $28.29

ACM Research, Inc. (NASDAQ:ACMR) gapped down prior to trading on Friday . The stock had previously closed at $28.29, but opened at $26.07. ACM Research shares last traded at $25.84, with a volume of 626,989 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ACMR shares. Benchmark lifted their price objective on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC upped their price objective on shares of ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group upgraded shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Thursday, February 29th. Finally, Roth Mkm upped their price objective on shares of ACM Research from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.88.

ACM Research Trading Down 4.4 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.35 and a quick ratio of 1.26. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 22.09 and a beta of 1.39. The business’s 50-day simple moving average is $27.86 and its 200-day simple moving average is $21.42.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.16 by $0.27. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The firm had revenue of $170.30 million during the quarter, compared to analyst estimates of $149.54 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. ACM Research’s revenue for the quarter was up 57.0% compared to the same quarter last year. Research analysts predict that ACM Research, Inc. will post 1.22 earnings per share for the current fiscal year.

Insider Activity

In other ACM Research news, Director Tracy Liu sold 12,500 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total transaction of $315,000.00. Following the transaction, the director now directly owns 110,772 shares in the company, valued at approximately $2,791,454.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ACM Research news, insider Sotheara Cheav sold 5,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $29.09, for a total transaction of $145,450.00. Following the sale, the insider now directly owns 105,002 shares of the company’s stock, valued at $3,054,508.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tracy Liu sold 12,500 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total transaction of $315,000.00. Following the sale, the director now directly owns 110,772 shares in the company, valued at $2,791,454.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 149,434 shares of company stock worth $4,375,572. 33.63% of the stock is currently owned by company insiders.

Institutional Trading of ACM Research

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management acquired a new stake in shares of ACM Research in the 3rd quarter worth about $27,000. Federated Hermes Inc. acquired a new stake in shares of ACM Research in the 3rd quarter worth about $46,000. Headlands Technologies LLC acquired a new stake in shares of ACM Research in the 4th quarter worth about $66,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of ACM Research in the 3rd quarter worth about $68,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of ACM Research in the 4th quarter worth about $145,000. 66.75% of the stock is owned by institutional investors and hedge funds.

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.