ACM Research (NASDAQ:ACMR) Stock Dropped to “Hold” by Zacks Research

Zacks Research lowered shares of ACM Research (NASDAQ:ACMR) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks reports.

Several other brokerages have also recently commented on ACMR. Weiss Ratings cut ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Daiwa Securities Group began coverage on shares of ACM Research in a research note on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $130.00 target price (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Craig Hallum reaffirmed a “buy” rating and set a $100.00 target price on shares of ACM Research in a report on Monday, August 10th. Finally, Roth Capital set a $125.00 target price on shares of ACM Research and gave the company a “buy” rating in a research report on Wednesday, June 17th. Four 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, ACM Research currently has an average rating of “Moderate Buy” and a consensus target price of $122.75.

ACM Research Trading Down 3.4%

Shares of ACM Research stock opened at $72.77 on Tuesday. The company has a current ratio of 3.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.08. ACM Research has a twelve month low of $28.46 and a twelve month high of $127.19. The firm has a market capitalization of $4.71 billion, a PE ratio of 34.65 and a beta of 2.09. The firm’s 50-day moving average price is $76.49 and its 200 day moving average price is $74.58.

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

Insider Transactions at ACM Research

In other ACM Research news, insider David H. Wang sold 70,000 shares of ACM Research stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total transaction of $5,221,300.00. Following the transaction, the insider directly owned 802,708 shares of the company’s stock, valued at $59,873,989.72. The trade was a 8.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Haiping Dun sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $81.13, for a total transaction of $405,650.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $405,650. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 24.36% of the company’s stock.

Institutional Trading of ACM Research

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC lifted its holdings in ACM Research by 16,878.8% in the first quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock valued at $70,583,000 after acquiring an additional 1,849,914 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in ACM Research by 207.6% during the first quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock worth $28,286,000 after acquiring an additional 485,282 shares during the last quarter. Bank of America Corp DE raised its position in ACM Research by 33.4% in the first quarter. Bank of America Corp DE now owns 402,412 shares of the specialty retailer’s stock valued at $15,835,000 after purchasing an additional 100,700 shares during the period. First Trust Advisors LP raised its position in ACM Research by 73.7% in the first quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer’s stock valued at $14,716,000 after purchasing an additional 158,664 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of ACM Research in the 2nd quarter valued at $41,402,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

About ACM Research

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.