ACM Research (ACMR) Set to Announce Earnings on Wednesday

ACM Research (NASDAQ:ACMR - Get Free Report) is scheduled to be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. ACM Research has set its FY 2024 guidance at EPS.Persons that wish to register for the company's earnings conference call can do so using this link.

ACM Research (NASDAQ:ACMR - Get Free Report) last posted its earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.27. The company had revenue of $170.30 million during the quarter, compared to the consensus estimate of $149.54 million. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The firm's quarterly revenue was up 57.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, analysts expect ACM Research to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

ACM Research Stock Performance

Shares of NASDAQ ACMR traded down $0.60 during trading on Wednesday, reaching $24.92. 1,022,952 shares of the company traded hands, compared to its average volume of 1,643,543. The stock has a market cap of $1.42 billion, a P/E ratio of 21.81 and a beta of 1.39. The firm's fifty day simple moving average is $28.29 and its 200 day simple moving average is $21.60. The company has a current ratio of 2.35, a quick ratio of 1.26 and a debt-to-equity ratio of 0.06. ACM Research has a 12-month low of $8.75 and a 12-month high of $34.40.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACMR. Roth Mkm boosted their price target on ACM Research from $20.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, January 10th. The Goldman Sachs Group upgraded shares of ACM Research from a "neutral" rating to a "buy" rating and set a $39.00 price target on the stock in a research report on Thursday, February 29th. Benchmark upped their price objective on shares of ACM Research from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Finally, Needham & Company LLC raised their target price on ACM Research from $24.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $31.88.

Insider Activity

In related news, Director Haiping Dun sold 15,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.36, for a total transaction of $455,400.00. Following the completion of the sale, the director now directly owns 874,524 shares in the company, valued at $26,550,548.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sotheara Cheav sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $29.09, for a total transaction of $145,450.00. Following the transaction, the insider now owns 105,002 shares of the company's stock, valued at approximately $3,054,508.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Haiping Dun sold 15,000 shares of the firm's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.36, for a total transaction of $455,400.00. Following the sale, the director now owns 874,524 shares of the company's stock, valued at $26,550,548.64. The disclosure for this sale can be found here. Insiders have sold a total of 149,434 shares of company stock worth $4,375,572 over the last quarter. 33.63% of the stock is currently owned by corporate insiders.

About ACM Research

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.