ACM Research (NASDAQ:ACMR) Stock Price Down 8% – What’s Next?

ACM Research, Inc. (NASDAQ:ACMR)’s share price dropped 8% during mid-day trading on Monday . The stock traded as low as $78.56 and last traded at $77.5620. Approximately 153,017 shares were traded during trading, a decline of 90% from the average daily volume of 1,488,948 shares. The stock had previously closed at $84.32.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley reiterated 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. Seaport Research Partners began coverage on shares of ACM Research in a report on Monday, May 4th. They set a “buy” rating and a $75.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACM Research in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research cut shares of ACM Research from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.50.

ACM Research Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 2.52. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 58.71 and a beta of 1.90. The stock has a 50-day moving average price of $92.00 and a 200 day moving average price of $66.74.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. The business had revenue of $231.26 million during the quarter, compared to analyst estimates of $215.69 million. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.ACM Research’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS. As a group, analysts anticipate that ACM Research, Inc. will post 1.02 EPS for the current fiscal year.

Insider Activity

In related news, insider Sotheara Cheav sold 13,351 shares of ACM Research stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $85.15, for a total value of $1,136,837.65. Following the sale, the insider owned 100,002 shares of the company’s stock, valued at approximately $8,515,170.30. This trade represents a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David H. Wang sold 60,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $90.05, for a total transaction of $5,403,000.00. Following the completion of the sale, the insider directly owned 802,708 shares in the company, valued at approximately $72,283,855.40. This represents a 6.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 123,752 shares of company stock worth $10,752,198 over the last quarter. 24.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its stake in shares of ACM Research by 31.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 20,900 shares of the specialty retailer’s stock worth $2,652,000 after purchasing an additional 5,000 shares in the last quarter. Key Client Fiduciary Advisors LLC acquired a new position in ACM Research during the second quarter worth $252,000. Contravisory Investment Management Inc. increased its holdings in ACM Research by 2.3% during the second quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the specialty retailer’s stock worth $662,000 after buying an additional 115 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in ACM Research during the second quarter worth $888,000. Finally, GAMMA Investing LLC lifted its stake in ACM Research by 14.5% in the second quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer’s stock valued at $183,000 after acquiring an additional 182 shares during the last quarter. 66.75% of the stock is currently owned by institutional investors.

About ACM Research

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.