ACM Research (NASDAQ:ACMR) Trading Down 5.6% After Insider Selling

ACM Research, Inc. (NASDAQ:ACMR) shares traded down 5.6% on Tuesday after an insider sold shares in the company. The stock traded as low as $17.24 and last traded at $17.40. 923,569 shares were traded during mid-day trading, a decline of 35% from the average session volume of 1,426,980 shares. The stock had previously closed at $18.44.

Specifically, insider David H. Wang sold 56,250 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $19.08, for a total value of $1,073,250.00. Following the completion of the transaction, the insider now owns 710,506 shares in the company, valued at $13,556,454.48. This represents a 7.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $19.12, for a total value of $286,800.00. Following the transaction, the director now directly owns 774,148 shares in the company, valued at approximately $14,801,709.76. This trade represents a 1.90 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

ACMR has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of ACM Research in a research note on Tuesday, October 1st. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of ACM Research in a research report on Wednesday, August 7th. Finally, Roth Mkm dropped their price target on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

ACM Research Price Performance

The company’s 50-day moving average is $19.26 and its 200-day moving average is $20.20. The firm has a market capitalization of $994.92 million, a price-to-earnings ratio of 13.08 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.35. The company had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. On average, research analysts expect that ACM Research, Inc. will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On ACM Research

A number of large investors have recently modified their holdings of the company. Cim LLC increased its position in ACM Research by 8.6% during the 2nd quarter. Cim LLC now owns 16,788 shares of the specialty retailer’s stock worth $387,000 after purchasing an additional 1,326 shares in the last quarter. Sei Investments Co. increased its position in shares of ACM Research by 6.7% in the second quarter. Sei Investments Co. now owns 21,736 shares of the specialty retailer’s stock worth $501,000 after acquiring an additional 1,358 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of ACM Research by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the specialty retailer’s stock valued at $449,000 after acquiring an additional 1,382 shares during the period. CWM LLC raised its stake in shares of ACM Research by 297.1% in the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,444 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in shares of ACM Research during the 3rd quarter valued at $37,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

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.