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

ACM Research, Inc. (NASDAQ:ACMR) gapped down before the market opened 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.

Analysts Set New Price Targets

ACMR has been the topic of a number of recent research reports. Needham & Company LLC increased their target price on ACM Research from $24.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Roth Mkm lifted their price objective on ACM Research from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Benchmark increased their target price on ACM Research from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group raised ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $31.88.

ACM Research Trading Down 4.4 %

The firm has a 50-day moving average of $27.86 and a two-hundred day moving average of $21.42. The company has a current ratio of 2.35, a quick ratio of 1.26 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.52 billion, a P/E ratio of 22.09 and a beta of 1.39.

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

Insider Activity at ACM Research

In other ACM Research news, insider David H. Wang sold 90,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.36, for a total value of $2,732,400.00. Following the completion of the transaction, the insider now directly owns 591,107 shares in the company, valued at $17,946,008.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ACM Research news, insider Sotheara Cheav sold 5,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total transaction of $145,450.00. Following the completion of the sale, the insider now directly owns 105,002 shares in the company, valued at approximately $3,054,508.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David H. Wang sold 90,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.36, for a total value of $2,732,400.00. Following the completion of the transaction, the insider now directly owns 591,107 shares in the company, valued at $17,946,008.52. The disclosure for this sale can be found here. Insiders have sold a total of 149,434 shares of company stock valued at $4,375,572 in the last 90 days. 33.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

About ACM Research

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.