ACM Research (NASDAQ:ACMR) Shares Down 3.1%

ACM Research, Inc. (NASDAQ:ACMR)’s stock price dropped 3.1% on Friday . The company traded as low as $16.00 and last traded at $16.01. Approximately 67,877 shares were traded during trading, a decline of 95% from the average daily volume of 1,450,199 shares. The stock had previously closed at $16.53.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACMR. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACM Research in a report on Thursday, August 8th. Finally, Roth Mkm decreased their price target on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

ACM Research Stock Performance

The firm’s 50 day simple moving average is $20.09 and its 200-day simple moving average is $23.94. The company has a market capitalization of $898.68 million, a price-to-earnings ratio of 12.52 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29.

ACM Research (NASDAQ:ACMR) last released its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The company had revenue of $202.50 million during the quarter, compared to the consensus estimate of $163.05 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue was up 40.0% compared to the same quarter last year. Analysts expect that ACM Research, Inc. will post 0.92 EPS for the current year.

Institutional Investors Weigh In On ACM Research

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund lifted its position in shares of ACM Research by 36.1% during the 4th quarter. New York State Common Retirement Fund now owns 21,208 shares of the specialty retailer’s stock worth $414,000 after purchasing an additional 5,620 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of ACM Research by 40.8% in the fourth quarter. Russell Investments Group Ltd. now owns 288,042 shares of the specialty retailer’s stock worth $5,628,000 after acquiring an additional 83,485 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ACM Research by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,629 shares of the specialty retailer’s stock worth $7,359,000 after acquiring an additional 19,946 shares during the period. Strategic Advocates LLC acquired a new position in ACM Research during the 4th quarter valued at $214,000. Finally, UBS Group AG boosted its holdings in ACM Research by 6.6% in the 4th quarter. UBS Group AG now owns 560,250 shares of the specialty retailer’s stock valued at $10,947,000 after purchasing an additional 34,928 shares during the period. 66.75% of the stock is currently 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.