ACM Research (NASDAQ:ACMR) Shares Down 5.6% Following Insider Selling

Shares of ACM Research, Inc. (NASDAQ:ACMR) were down 5.6% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $17.24 and last traded at $17.40. Approximately 923,569 shares were traded during trading, a decline of 35% from the average daily 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 business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $19.08, for a total transaction of $1,073,250.00. Following the transaction, the insider now directly owns 710,506 shares of the company’s stock, valued at approximately $13,556,454.48. The trade was a 7.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $19.12, for a total transaction of $286,800.00. Following the sale, the director now owns 774,148 shares in the company, valued at $14,801,709.76. This represents a 1.90 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ACMR. Benchmark restated a “buy” rating and issued a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of ACM Research in a research report on Tuesday, October 1st. Finally, Roth Mkm lowered their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

ACM Research Trading Down 0.6 %

The firm has a market cap of $994.92 million, a P/E ratio of 13.08 and a beta of 1.54. The business’s 50 day moving average is $19.26 and its 200-day moving average is $20.20. 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 (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. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The firm had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. ACM Research’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, analysts forecast that ACM Research, Inc. will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACM Research

A number of hedge funds have recently added to or reduced their stakes in ACMR. Geode Capital Management LLC boosted its holdings in shares of ACM Research by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer’s stock valued at $23,973,000 after buying an additional 26,620 shares during the period. Barclays PLC lifted its holdings in ACM Research by 63.3% in the third quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock worth $2,793,000 after acquiring an additional 53,319 shares during the last quarter. XTX Topco Ltd acquired a new position in ACM Research in the third quarter valued at approximately $700,000. Portolan Capital Management LLC boosted its stake in ACM Research by 7.7% in the third quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after acquiring an additional 65,616 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of ACM Research by 2.5% during the third quarter. Janus Henderson Group PLC now owns 117,125 shares of the specialty retailer’s stock valued at $2,378,000 after purchasing an additional 2,832 shares during the last quarter. 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.