ACM Research (NASDAQ:ACMR) Hits New 1-Year High – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $86.50 and last traded at $86.46, with a volume of 3613048 shares trading hands. The stock had previously closed at $73.35.

Analyst Ratings Changes

ACMR has been the topic of a number of recent research reports. Wall Street Zen raised ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered ACM Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings raised ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Seaport Research Partners initiated coverage on ACM Research in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.00.

ACM Research Price Performance

The stock has a fifty day moving average of $52.84 and a two-hundred day moving average of $48.79. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 66.00 and a beta of 1.82. The company has a quick ratio of 2.52, a current ratio of 3.51 and a debt-to-equity ratio of 0.11.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.The firm had revenue of $231.26 million for the quarter, compared to analyst estimates of $215.69 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. ACM Research’s quarterly revenue was up 34.2% on a year-over-year basis. On average, equities research analysts anticipate that ACM Research, Inc. will post 1.2 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Tracy Liu sold 45,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $47.38, for a total transaction of $2,132,100.00. Following the transaction, the director owned 110,772 shares of the company’s stock, valued at $5,248,377.36. This represents a 28.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles C. Pappis sold 5,000 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.00, for a total value of $260,000.00. Following the sale, the director owned 5,000 shares in the company, valued at approximately $260,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,000 shares of company stock valued at $3,441,850 over the last quarter. Company insiders own 25.00% of the company’s stock.

Institutional Trading of ACM Research

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in ACM Research by 33.4% during the first quarter. Bank of America Corp DE now owns 402,412 shares of the specialty retailer’s stock worth $15,835,000 after purchasing an additional 100,700 shares in the last quarter. California State Teachers Retirement System boosted its position in ACM Research by 32.4% during the first quarter. California State Teachers Retirement System now owns 63,131 shares of the specialty retailer’s stock worth $2,484,000 after purchasing an additional 15,460 shares in the last quarter. Royal Bank of Canada boosted its position in ACM Research by 26.0% during the first quarter. Royal Bank of Canada now owns 4,118 shares of the specialty retailer’s stock worth $162,000 after purchasing an additional 849 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in ACM Research during the first quarter worth $1,693,000. Finally, Cypress Capital Group purchased a new stake in ACM Research during the first quarter worth $623,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

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.