ACM Research (NASDAQ:ACMR) Downgraded to Hold Rating by Needham & Company LLC

ACM Research (NASDAQ:ACMR) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

Other equities research analysts have also recently issued research reports about the company. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th. Roth Mkm lowered their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

ACM Research Stock Performance

ACMR opened at $16.20 on Wednesday. The stock has a market cap of $933.28 million, a P/E ratio of 12.27 and a beta of 1.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. The stock’s 50 day simple moving average is $19.19 and its 200 day simple moving average is $19.98. ACM Research has a 1-year low of $13.94 and a 1-year high of $34.40.

ACM Research (NASDAQ:ACMR) last released 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. As a group, equities analysts anticipate that ACM Research will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at ACM Research

In other ACM Research news, Director Xiao Xing sold 8,304 shares of the 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 transaction, the director now owns 3,430,206 shares of the company’s stock, valued at $69,255,859.14. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $24.07, for a total value of $6,619,250.00. Following the transaction, the insider now directly owns 2,428,906 shares in the company, valued at approximately $58,463,767.42. This represents a 10.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,244,016 shares of company stock worth $26,939,953. 31.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Erste Asset Management GmbH purchased a new position in shares of ACM Research in the 3rd quarter worth $37,000. CWM LLC raised 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 buying an additional 1,444 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of ACM Research in the 2nd quarter worth $59,000. Truvestments Capital LLC purchased a new position in shares of ACM Research in the 3rd quarter worth $72,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of ACM Research in the 2nd quarter worth $99,000. Hedge funds and other institutional investors 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.