ACM Research (NASDAQ:ACMR) Stock Price Down 4.4% Following Insider Selling

ACM Research, Inc. (NASDAQ:ACMR) traded down 4.4% on Thursday following insider selling activity. The stock traded as low as $28.04 and last traded at $27.94. 489,553 shares changed hands during trading, a decline of 71% from the average session volume of 1,660,472 shares. The stock had previously closed at $29.22.

Specifically, Director Chenming Hu sold 163,308 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.00, for a total value of $4,899,240.00. Following the transaction, the director now owns 100,002 shares in the company, valued at approximately $3,000,060. This trade represents a 62.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Haiping Dun sold 9,518 shares of ACM Research stock in a transaction on Friday, March 14th. The stock was sold at an average price of $29.00, for a total value of $276,022.00. Following the transaction, the director now owns 755,090 shares in the company, valued at approximately $21,897,610. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

ACMR has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. began coverage on ACM Research in a report on Friday, February 28th. They set an “overweight” rating and a $36.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACM Research currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

ACM Research Price Performance

The company has a 50-day moving average of $22.71 and a two-hundred day moving average of $19.43. The stock has a market capitalization of $1.62 billion, a PE ratio of 21.20 and a beta of 1.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

Hedge Funds Weigh In On ACM Research

Several large investors have recently added to or reduced their stakes in ACMR. Quest Partners LLC lifted its position in ACM Research by 156.4% during the third quarter. Quest Partners LLC now owns 19,481 shares of the specialty retailer’s stock worth $395,000 after buying an additional 11,883 shares during the period. Intech Investment Management LLC purchased a new stake in shares of ACM Research during the 3rd quarter worth about $254,000. Charles Schwab Investment Management Inc. increased its position in ACM Research by 3.5% during 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 in the last quarter. Citigroup Inc. raised its holdings in ACM Research by 8.7% in the third quarter. Citigroup Inc. now owns 340,207 shares of the specialty retailer’s stock valued at $6,906,000 after buying an additional 27,178 shares during the period. Finally, Algert Global LLC lifted its position in ACM Research by 530.5% during the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock valued at $3,611,000 after buying an additional 149,670 shares in the last quarter. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

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.