ACM Research (NASDAQ:ACMR) Trading Down 6.1% - What's Next?

Key Points

• ACM Research shares fell 6.1% to $79.25 in mid-day trading, with volume down 78% from the average session.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $118.33; Morgan Stanley recently raised its target to $130.
• The company reported strong quarterly results, beating EPS and revenue estimates while revenue increased 36% year over year, although insiders have sold more than $10.4 million of stock in the past 90 days.

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report)'s stock price fell 6.1% on Wednesday . The company traded as low as $77.79 and last traded at $79.25. Approximately 317,990 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,448,391 shares. The stock had previously closed at $84.37.

Analyst Ratings Changes

Several research firms have recently issued reports on ACMR. Morgan Stanley reiterated an "overweight" rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Weiss Ratings upgraded ACM Research from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Seaport Research Partners began coverage on ACM Research in a report on Monday, May 4th. They issued a "buy" rating and a $75.00 target price for the company. Zacks Research raised ACM Research from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Roth Capital set a $125.00 price target on ACM Research and gave the company a "buy" rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $118.33.

ACM Research Trading Down 7.7%

The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 37.20 and a beta of 1.96. The business has a 50-day moving average of $91.71 and a two-hundred day moving average of $70.06. 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 - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 EPS for the quarter, beating the consensus estimate of $0.42 by $0.19. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The firm had revenue of $292.92 million during the quarter, compared to analysts' expectations of $269.28 million. During the same quarter in the prior year, the firm posted $0.54 EPS. The company's revenue for the quarter was up 36.0% on a year-over-year basis. Research analysts predict that ACM Research, Inc. will post 1.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other ACM Research news, insider David H. Wang sold 60,000 shares of ACM Research stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $90.05, for a total transaction of $5,403,000.00. Following the sale, the insider owned 802,708 shares in the company, valued at $72,283,855.40. The trade was a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sotheara Cheav sold 13,351 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $85.15, for a total transaction of $1,136,837.65. Following the completion of the transaction, the insider owned 100,002 shares of the company's stock, valued at approximately $8,515,170.30. This represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 118,752 shares of company stock valued at $10,421,098 over the last 90 days. 24.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACMR. Farther Finance Advisors LLC boosted its holdings in ACM Research by 90.1% during the fourth quarter. Farther Finance Advisors LLC now owns 650 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of ACM Research by 266.7% in the 4th quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer's stock worth $26,000 after buying an additional 480 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of ACM Research in the 4th quarter worth approximately $28,000. Harbor Investment Advisory LLC lifted its position in shares of ACM Research by 195.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 738 shares of the specialty retailer's stock worth $94,000 after buying an additional 488 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of ACM Research by 381.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,087 shares of the specialty retailer's stock worth $43,000 after buying an additional 861 shares during the period. Institutional investors and hedge funds own 66.75% of the company's stock.

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.

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