ACM Research (NASDAQ:ACMR) Stock Rating Lowered by Needham & Company LLC

ACM Research (NASDAQ:ACMR) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $25.00 target price on the specialty retailer’s stock. Needham & Company LLC’s target price points to a potential upside of 77.30% from the company’s previous close.

Other research analysts also recently issued reports about the company. Roth Mkm dropped their price target 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. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of ACM Research in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.00.

ACM Research Price Performance

ACM Research stock opened at $14.10 on Wednesday. The stock has a market capitalization of $812.30 million, a price-to-earnings ratio of 10.68 and a beta of 1.48. ACM Research has a 52-week low of $13.87 and a 52-week high of $34.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The stock’s 50 day moving average price is $19.06 and its two-hundred day moving average price is $19.92.

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

Insiders Place Their Bets

In related news, Director Xiao Xing sold 8,304 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total transaction of $167,657.76. Following the transaction, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. The trade was a 0.24 % 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 275,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $24.07, for a total value of $6,619,250.00. Following the sale, the insider now directly owns 2,428,906 shares of the company’s stock, valued at $58,463,767.42. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 Trading of ACM Research

Several hedge funds have recently added to or reduced their stakes in the stock. Cim LLC raised its holdings in shares of ACM Research by 8.6% in the 2nd quarter. Cim LLC now owns 16,788 shares of the specialty retailer’s stock worth $387,000 after purchasing an additional 1,326 shares during the period. Sei Investments Co. increased its position in ACM Research by 6.7% in the second quarter. Sei Investments Co. now owns 21,736 shares of the specialty retailer’s stock worth $501,000 after buying an additional 1,358 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of ACM Research by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the specialty retailer’s stock valued at $449,000 after buying an additional 1,382 shares during the period. CWM LLC lifted its position in shares of ACM Research by 297.1% during the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 1,444 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of ACM Research during the 3rd quarter worth $37,000. Institutional investors own 66.75% of the company’s stock.

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.