ACM Research (NASDAQ:ACMR) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded ACM Research from “strong buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $122.75.
• ACM Research reported stronger-than-expected quarterly results, with EPS of $0.61 versus $0.42 expected and revenue of $292.92 million, up 36% year over year.
• The stock opened at $72.77 and has experienced insider selling, including a $5.2 million share sale by insider David H. Wang; insiders own 24.36% of the company, while institutions hold 66.75%.

ACM Research (NASDAQ:ACMR - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday, Zacks reports.

A number of other research analysts also recently issued reports on ACMR. 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. Morgan Stanley reiterated an "overweight" rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. Daiwa Securities Group assumed coverage on shares of ACM Research in a research report on Wednesday, August 26th. They issued a "buy" rating and a $136.00 price objective on the stock. Craig Hallum reissued a "buy" rating and set a $100.00 target price on shares of ACM Research in a research report on Monday, August 10th. Finally, Weiss Ratings lowered shares of ACM Research from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 24th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $122.75.

ACM Research Price Performance

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

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.19. The firm had revenue of $292.92 million for the quarter, compared to the consensus estimate of $269.28 million. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The company's quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. Equities analysts predict that ACM Research will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David H. Wang sold 70,000 shares of the company's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total value 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. This represents a 8.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Haiping Dun sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total value of $405,650.00. Following the completion of the transaction, the director owned 5,000 shares of the company's stock, valued at $405,650. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 24.36% of the stock is owned by insiders.

Institutional Trading of ACM Research

Several large investors have recently added to or reduced their stakes in ACMR. Congress Asset Management Co. raised its stake in shares of ACM Research by 23.8% in the third quarter. Congress Asset Management Co. now owns 277,150 shares of the specialty retailer's stock worth $22,427,000 after purchasing an additional 53,295 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in ACM Research in the 2nd quarter worth approximately $332,000. Integrated Wealth Concepts LLC acquired a new position in ACM Research in the 2nd quarter worth approximately $346,000. Nykredit A S purchased a new position in ACM Research during the 2nd quarter worth approximately $173,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in ACM Research during the 2nd quarter worth approximately $622,000. Hedge funds and other institutional investors 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.

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