ACM Research (NASDAQ:ACMR) Stock Price Down 6.8%

ACM Research, Inc. (NASDAQ:ACMR) shares traded down 6.8% during mid-day trading on Wednesday . The stock traded as low as $19.52 and last traded at $19.57. 759,244 shares were traded during trading, a decline of 48% from the average session volume of 1,473,973 shares. The stock had previously closed at $21.00.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of ACM Research in a report on Thursday, May 9th.

ACM Research Price Performance

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.17 and a beta of 1.55. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $22.78 and a two-hundred day moving average price of $24.07.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, May 8th. The specialty retailer reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. ACM Research had a return on equity of 10.26% and a net margin of 13.79%. The firm had revenue of $152.19 million for the quarter, compared to analyst estimates of $151.00 million. As a group, research analysts forecast that ACM Research, Inc. will post 1 EPS for the current year.

Insider Buying and Selling

In other ACM Research news, insider David H. Wang sold 90,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.81, for a total transaction of $2,052,900.00. Following the completion of the transaction, the insider now directly owns 590,108 shares of the company’s stock, valued at approximately $13,460,363.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider David H. Wang sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total value of $2,052,900.00. Following the sale, the insider now directly owns 590,108 shares in the company, valued at approximately $13,460,363.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David H. Wang sold 86,090 shares of ACM Research stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $22.62, for a total value of $1,947,355.80. Following the sale, the insider now directly owns 504,018 shares in the company, valued at approximately $11,400,887.16. The disclosure for this sale can be found here. Insiders have sold a total of 240,329 shares of company stock valued at $5,440,934 in the last quarter. Company insiders own 31.24% of the company’s stock.

Institutional Investors Weigh In On ACM Research

Several institutional investors have recently bought and sold shares of ACMR. Panview Asian Equity Master Fund raised its position in shares of ACM Research by 264.7% during the 4th quarter. Panview Asian Equity Master Fund now owns 1,057,753 shares of the specialty retailer’s stock worth $20,668,000 after buying an additional 767,753 shares in the last quarter. Steamboat Capital Partners LLC bought a new stake in ACM Research during the first quarter worth approximately $20,398,000. Prelude Capital Management LLC bought a new stake in ACM Research during the fourth quarter worth approximately $8,640,000. Vanguard Group Inc. lifted its position in ACM Research by 10.9% in the third quarter. Vanguard Group Inc. now owns 4,082,835 shares of the specialty retailer’s stock worth $73,920,000 after purchasing an additional 399,854 shares during the period. Finally, M&G Plc bought a new position in ACM Research during the 1st quarter valued at $7,413,000. Institutional investors and hedge funds 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.