ACM Research (NASDAQ:ACMR) Lowered to “Hold” Rating by Craig Hallum

ACM Research (NASDAQ:ACMR) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $18.00 price objective on the specialty retailer’s stock, down from their prior price objective of $30.00. Craig Hallum’s target price suggests a potential upside of 20.89% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th. Roth Mkm lowered their price target on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC cut ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

ACM Research Stock Performance

Shares of NASDAQ:ACMR opened at $14.89 on Thursday. The business has a 50-day moving average of $18.97 and a two-hundred day moving average of $19.86. The firm has a market capitalization of $857.75 million, a PE ratio of 11.28 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. ACM Research has a 12 month low of $13.87 and a 12 month high of $34.40.

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

Insider Activity at ACM Research

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the transaction, the insider now directly owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Xiao Xing sold 8,304 shares of ACM Research 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 of the company’s stock, valued at approximately $69,255,859.14. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,244,016 shares of company stock valued at $26,939,953. Corporate insiders own 31.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank bought a new position in shares of ACM Research during the first quarter worth about $1,150,000. CWM LLC grew 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 acquiring an additional 1,444 shares in the last quarter. FCG Investment Co increased its holdings in shares of ACM Research by 5.4% in the 2nd quarter. FCG Investment Co now owns 44,164 shares of the specialty retailer’s stock valued at $1,018,000 after acquiring an additional 2,259 shares during the last quarter. Summit Global Investments acquired a new stake in shares of ACM Research during the 2nd quarter valued at approximately $607,000. Finally, Bank of New York Mellon Corp lifted its stake in ACM Research by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 235,860 shares of the specialty retailer’s stock worth $5,439,000 after purchasing an additional 18,830 shares during the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

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.