ACM Research (NASDAQ:ACMR) Shares Gap Down – Here’s Why

ACM Research, Inc. (NASDAQ:ACMR) shares gapped down before the market opened on Thursday. The stock had previously closed at $61.12, but opened at $57.32. ACM Research shares last traded at $55.7370, with a volume of 379,416 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ACMR shares. Roth Capital set a $125.00 price target on shares of ACM Research and gave the company a “buy” rating in a report on Wednesday, June 17th. Morgan Stanley reissued an “overweight” rating and issued a $130.00 price target (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Weiss Ratings upgraded shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Craig Hallum restated a “buy” rating and issued a $100.00 target price on shares of ACM Research in a research note on Monday, August 10th. Finally, Zacks Research cut ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, ACM Research has an average rating of “Moderate Buy” and an average target price of $122.75.

ACM Research Stock Down 7.8%

The firm has a 50-day moving average price of $75.25 and a two-hundred day moving average price of $75.39. The company has a market capitalization of $3.64 billion, a P/E ratio of 26.86 and a beta of 2.09. The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08.

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

Insider Activity at ACM Research

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

Institutional Trading of ACM Research

Large investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in shares of ACM Research by 32.4% in the first quarter. California State Teachers Retirement System now owns 63,131 shares of the specialty retailer’s stock worth $2,484,000 after purchasing an additional 15,460 shares in the last quarter. First Trust Advisors LP lifted its position in ACM Research by 73.7% during the 1st quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer’s stock worth $14,716,000 after buying an additional 158,664 shares in the last quarter. Cypress Capital Group acquired a new position in ACM Research during the first quarter valued at approximately $623,000. Congress Asset Management Co. grew its stake in ACM Research by 23.8% in the third quarter. Congress Asset Management Co. now owns 277,150 shares of the specialty retailer’s stock valued at $22,427,000 after purchasing an additional 53,295 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of ACM Research during the 1st quarter worth approximately $1,693,000. Institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

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.