ACM Research (NASDAQ:ACMR) Stock Rating Lowered by Needham & Company LLC

ACM Research (NASDAQ:ACMR) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $25.00 target price on the specialty retailer’s stock. Needham & Company LLC’s price objective indicates a potential upside of 77.30% from the stock’s previous close.

ACMR has been the topic of several other reports. Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of ACM Research in a report on Wednesday, August 7th. Roth Mkm lowered their price objective on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACM Research currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

ACM Research Stock Performance

Shares of NASDAQ:ACMR opened at $14.10 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. ACM Research has a 12-month low of $13.87 and a 12-month high of $34.40. The company’s 50 day moving average price is $19.06 and its two-hundred day moving average price is $19.92. The firm has a market cap of $812.30 million, a PE ratio of 10.68 and a beta of 1.48.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.35. The firm had revenue of $204.00 million for the quarter, compared to analyst estimates of $191.18 million. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities research analysts predict that ACM Research will post 1.12 earnings per share for the current year.

Insider Activity at ACM Research

In other news, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total transaction of $167,657.76. Following the sale, the director now directly owns 3,430,206 shares of the company’s stock, valued at approximately $69,255,859.14. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David H. Wang sold 56,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total value of $1,006,312.50. Following the completion of the transaction, the insider now directly owns 654,256 shares of the company’s stock, valued at $11,704,639.84. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,244,016 shares of company stock valued at $26,939,953 in the last quarter. Insiders own 31.24% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of hedge funds have recently modified their holdings of ACMR. Erste Asset Management GmbH acquired a new position in ACM Research during the 3rd quarter worth about $37,000. CWM LLC lifted its position 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 worth $45,000 after purchasing an additional 1,444 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of ACM Research in the 2nd quarter valued at $59,000. Truvestments Capital LLC acquired a new stake in shares of ACM Research during the third quarter worth $72,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in ACM Research during the second quarter worth $99,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Company Profile

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.