ACM Research (NASDAQ:ACMR) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• ACM Research reported earnings of $0.54 per share for the quarter, exceeding analysts' expectations by $0.12, although revenue fell short of estimates at $215.37 million.
• Shares of ACMR declined 1.4%, trading at $23.94, with a trading volume surpassing its average.
• Institutional investors hold 66.75% of ACM Research, with several firms increasing their stake in the company during the recent quarters.

ACM Research (NASDAQ:ACMR - Get Free Report) released its earnings results on Wednesday. The specialty retailer reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12, Briefing.com reports. The business had revenue of $215.37 million during the quarter, compared to the consensus estimate of $223.42 million. ACM Research had a return on equity of 9.75% and a net margin of 13.76%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share.

ACM Research Stock Down 1.4%

Shares of ACMR stock traded down $0.33 on Friday, hitting $23.94. The stock had a trading volume of 1,511,609 shares, compared to its average volume of 1,182,997. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $27.29 and a 200 day moving average price of $24.38. The company has a market cap of $1.41 billion, a PE ratio of 14.51 and a beta of 1.36. ACM Research has a one year low of $13.87 and a one year high of $32.54.

Insider Activity at ACM Research

In related news, insider David H. Wang sold 60,000 shares of ACM Research stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $22.63, for a total value of $1,357,800.00. Following the completion of the sale, the insider directly owned 672,708 shares in the company, valued at $15,223,382.04. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lisa Feng sold 15,000 shares of ACM Research stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $28.00, for a total value of $420,000.00. Following the completion of the sale, the insider owned 50,001 shares of the company's stock, valued at $1,400,028. The trade was a 23.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $4,269,800 over the last three months. 25.00% of the stock is owned by corporate insiders.

Institutional Trading of ACM Research

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ACM Research by 10.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,061 shares of the specialty retailer's stock worth $748,000 after purchasing an additional 3,065 shares in the last quarter. Caxton Associates LLP bought a new position in ACM Research in the first quarter worth about $250,000. Creative Planning bought a new position in ACM Research in the second quarter worth about $212,000. Finally, Strs Ohio bought a new position in ACM Research in the first quarter worth about $133,000. 66.75% of the stock is currently owned by institutional investors.

ACM Research Company Profile

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.

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