ACM Research (NASDAQ:ACMR) Sets New 52-Week Low – Here’s Why

ACM Research, Inc. (NASDAQ:ACMR)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $13.87 and last traded at $14.10, with a volume of 6060097 shares traded. The stock had previously closed at $16.57.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC cut ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Wednesday. Craig Hallum downgraded ACM Research from a “buy” rating to a “hold” rating and cut their price objective for the company from $30.00 to $18.00 in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

ACM Research Stock Up 5.6 %

The stock has a market cap of $857.81 million, a P/E ratio of 11.28 and a beta of 1.48. The firm’s fifty day moving average is $18.97 and its 200 day moving average is $19.83. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

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

Insider Buying and Selling

In related news, Director Xiao Xing sold 8,304 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total transaction of $167,657.76. Following the completion of the sale, the director now owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David H. Wang sold 56,250 shares of the stock in a transaction 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 sale, the insider now directly owns 654,256 shares of the company’s stock, valued at $11,704,639.84. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,244,016 shares of company stock worth $26,939,953 in the last ninety days. Corporate insiders own 31.24% of the company’s stock.

Institutional Trading of ACM Research

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of ACM Research by 39.3% in the second quarter. AQR Capital Management LLC now owns 178,460 shares of the specialty retailer’s stock valued at $4,115,000 after acquiring an additional 50,356 shares in the last quarter. Richard P Slaughter Associates Inc boosted its position in ACM Research by 94.9% in the third quarter. Richard P Slaughter Associates Inc now owns 127,810 shares of the specialty retailer’s stock worth $2,595,000 after purchasing an additional 62,247 shares during the last quarter. Millennium Management LLC grew its stake in ACM Research by 283.9% in the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock valued at $21,310,000 after purchasing an additional 683,361 shares during the period. Algert Global LLC grew its stake in ACM Research by 530.5% in the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock valued at $3,611,000 after purchasing an additional 149,670 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of ACM Research during the 3rd quarter worth $1,056,000. Institutional investors own 66.75% of the company’s stock.

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.