ACM Research (NASDAQ:ACMR) Shares Gap Down - What's Next?

Key Points

• ACM Research shares opened lower after gapping down from $106.86 to $100.98, and were last trading around $103.64, down about 4.3% on the session.
• Analyst sentiment remains generally positive, with Morgan Stanley reiterating an overweight rating and raising its price target to $130; the consensus rating is Moderate Buy with an average target price of $127.50.
• Recent results beat expectations: the company reported $0.34 EPS on $231.26 million in revenue, topping estimates, while revenue rose 34.2% year over year. Insiders have also sold shares recently, including two notable transactions in May and June.

Shares of ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $106.86, but opened at $100.98. ACM Research shares last traded at $103.6370, with a volume of 142,847 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ACMR shares. Morgan Stanley reiterated an "overweight" rating and set a $130.00 price objective (up from $90.00) on shares of ACM Research in a research note on Tuesday. Wall Street Zen upgraded shares of ACM Research from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Seaport Research Partners started coverage on shares of ACM Research in a research note on Monday, May 4th. They issued a "buy" rating and a $75.00 price target for the company. Zacks Research lowered shares of ACM Research from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of ACM Research from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, ACM Research has a consensus rating of "Moderate Buy" and an average target price of $127.50.

ACM Research Trading Down 4.3%

The business has a 50 day moving average of $74.15 and a two-hundred day moving average of $58.12. The company has a current ratio of 3.51, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.26 billion, a P/E ratio of 77.66 and a beta of 2.01.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.08. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The firm had revenue of $231.26 million during the quarter, compared to analysts' expectations of $215.69 million. During the same period in the previous year, the business posted $0.46 earnings per share. The company's revenue for the quarter was up 34.2% compared to the same quarter last year. Analysts predict that ACM Research, Inc. will post 1.02 earnings per share for the current year.

Insider Transactions at ACM Research

In related news, Director Haiping Dun sold 5,000 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $66.22, for a total transaction of $331,100.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $331,100. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sotheara Cheav sold 13,351 shares of ACM Research stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $85.15, for a total transaction of $1,136,837.65. Following the completion of the sale, the insider owned 100,002 shares of the company's stock, valued at $8,515,170.30. This trade represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 128,752 shares of company stock worth $11,012,198 over the last quarter. 24.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in ACM Research by 90.1% during the fourth quarter. Farther Finance Advisors LLC now owns 650 shares of the specialty retailer's stock worth $26,000 after buying an additional 308 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in ACM Research by 266.7% in the 4th quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. Leonteq Securities AG acquired a new position in ACM Research in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its position in shares of ACM Research by 656.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer's stock valued at $33,000 after acquiring an additional 1,122 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of ACM Research by 38.8% during the 4th quarter. GAMMA Investing LLC now owns 1,070 shares of the specialty retailer's stock valued at $42,000 after acquiring an additional 299 shares during the period. 66.75% of the stock is currently owned by institutional investors and hedge funds.

ACM Research Company Profile

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.

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