ACM Research (NASDAQ:ACMR) Shares Gap Down – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $91.96, but opened at $86.69. ACM Research shares last traded at $87.49, with a volume of 205,180 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ACMR shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Zacks Research lowered shares of ACM Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings raised shares of ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Wall Street Zen raised shares of ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Seaport Research Partners assumed coverage on shares of ACM Research in a research report on Monday, May 4th. They set a “buy” rating and a $75.00 target price for the company. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.50.

ACM Research Trading Down 5.2%

The company has a market capitalization of $5.34 billion, a P/E ratio of 66.58 and a beta of 1.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 2.52. The business’s 50-day moving average price is $88.61 and its two-hundred day moving average price is $64.50.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.The company had revenue of $231.26 million during the quarter, compared to the consensus estimate of $215.69 million. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, analysts forecast that ACM Research, Inc. will post 1.02 EPS for the current fiscal year.

Insider Activity at ACM Research

In other ACM Research news, insider Sotheara Cheav sold 5,399 shares of ACM Research stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $83.18, for a total value of $449,088.82. Following the sale, the insider owned 100,002 shares of the company’s stock, valued at $8,318,166.36. This trade represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles C. Pappis sold 5,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.00, for a total value of $260,000.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at approximately $260,000. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 128,752 shares of company stock valued at $11,012,198. Insiders own 24.36% of the company’s stock.

Hedge Funds Weigh In On ACM Research

Large investors have recently bought and sold shares of the company. WCM Investment Management LLC grew its position in ACM Research by 16,878.8% in the first quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock valued at $70,583,000 after purchasing an additional 1,849,914 shares in the last quarter. Invesco Ltd. raised its holdings in ACM Research by 444.5% during the fourth quarter. Invesco Ltd. now owns 1,342,136 shares of the specialty retailer’s stock worth $52,947,000 after acquiring an additional 1,095,634 shares in the last quarter. Janus Henderson Group PLC grew its stake in ACM Research by 1,406.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,082,982 shares of the specialty retailer’s stock valued at $42,740,000 after purchasing an additional 1,011,088 shares in the last quarter. Morgan Stanley increased its position in shares of ACM Research by 58.8% during the 4th quarter. Morgan Stanley now owns 1,392,306 shares of the specialty retailer’s stock worth $54,926,000 after purchasing an additional 515,340 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of ACM Research by 207.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock worth $28,286,000 after purchasing an additional 485,282 shares in the last quarter. 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.