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

Craig Hallum lowered shares of ACM Research (NASDAQ:ACMR) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat.com reports. Craig Hallum currently has $18.00 target price on the specialty retailer’s stock, down from their previous target price of $30.00.

ACMR has been the topic of a number of other reports. Roth Mkm dropped their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC lowered 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. Finally, Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of ACM Research in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.00.

ACM Research Price Performance

ACMR opened at $14.10 on Thursday. The stock has a market cap of $812.30 million, a price-to-earnings ratio of 10.68 and a beta of 1.48. ACM Research has a 1 year low of $13.87 and a 1 year high of $34.40. 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 stock has a fifty day moving average price of $19.06 and a 200 day moving average price of $19.92.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share 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 company had revenue of $204.00 million for the quarter, compared to analyst estimates of $191.18 million. During the same period last year, the company earned $0.41 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Analysts forecast that ACM Research will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other ACM Research news, insider David H. Wang sold 56,250 shares of ACM Research stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $17.89, for a total transaction of $1,006,312.50. Following the sale, the insider now directly owns 654,256 shares of the company’s stock, valued at approximately $11,704,639.84. The trade was a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Science & Technology Shanghai sold 26,300 shares of ACM Research stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total value of $526,263.00. Following the sale, the insider now directly owns 3,403,906 shares in the company, valued at $68,112,159.06. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,244,016 shares of company stock valued at $26,939,953 over the last three months. 31.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its position in 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 worth $23,973,000 after purchasing an additional 26,620 shares during the last quarter. Millennium Management LLC raised its position in ACM Research by 283.9% in the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after purchasing an additional 683,361 shares during the last quarter. Portolan Capital Management LLC raised its position in ACM Research by 7.7% in the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock worth $18,705,000 after purchasing an additional 65,616 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in ACM Research by 9.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer’s stock worth $9,412,000 after purchasing an additional 34,066 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in ACM Research by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock worth $8,239,000 after purchasing an additional 13,879 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.