ACM Research (NASDAQ:ACMR) Trading Down 4.4% After Insider Selling

ACM Research, Inc. (NASDAQ:ACMR) dropped 4.4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $28.04 and last traded at $27.94. Approximately 489,553 shares changed hands during trading, a decline of 71% from the average daily volume of 1,660,472 shares. The stock had previously closed at $29.22.

Specifically, Director Chenming Hu sold 163,308 shares of ACM Research stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the sale, the director now directly owns 100,002 shares of the company’s stock, valued at approximately $3,000,060. The trade was a 62.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Haiping Dun sold 9,518 shares of ACM Research stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $29.00, for a total value of $276,022.00. Following the sale, the director now directly owns 755,090 shares in the company, valued at approximately $21,897,610. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of ACM Research in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. assumed coverage on ACM Research in a research note on Friday, February 28th. They set an “overweight” rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.40.

ACM Research Price Performance

The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $23.17 and a two-hundred day moving average price of $19.55. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 20.36 and a beta of 1.61.

Institutional Trading of ACM Research

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in shares of ACM Research by 35.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer’s stock worth $1,067,000 after purchasing an additional 18,617 shares during the period. Algert Global LLC grew its holdings in ACM Research by 530.5% in the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after buying an additional 149,670 shares in the last quarter. SG Americas Securities LLC bought a new position in ACM Research in the 4th quarter worth approximately $5,782,000. Barclays PLC grew its holdings in ACM Research by 63.3% in the 3rd quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock worth $2,793,000 after buying an additional 53,319 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in ACM Research in the 3rd quarter worth approximately $700,000. 66.75% of the stock is currently 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.