ACM Research (NASDAQ:ACMR) Downgraded to Hold Rating by Needham & Company LLC

ACM Research (NASDAQ:ACMR) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

Several other brokerages also recently weighed in on ACMR. Roth Mkm lowered their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and set a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th.

ACM Research Trading Up 3.4 %

NASDAQ:ACMR opened at $16.20 on Wednesday. The business’s 50-day moving average is $19.19 and its two-hundred day moving average is $19.98. 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 $13.94 and a 12 month high of $34.40. The firm has a market capitalization of $933.28 million, a PE ratio of 12.27 and a beta of 1.48.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 EPS 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 posted $0.41 earnings per share. The firm’s revenue was up 21.0% compared to the same quarter last year. Research analysts predict that ACM Research will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the completion of the transaction, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $19.12, for a total value of $286,800.00. Following the completion of the transaction, the director now owns 774,148 shares of the company’s stock, valued at $14,801,709.76. This trade represents a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,244,016 shares of company stock worth $26,939,953 over the last ninety days. Corporate insiders own 31.24% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in ACM Research by 39.3% in the second quarter. AQR Capital Management LLC now owns 178,460 shares of the specialty retailer’s stock worth $4,115,000 after acquiring an additional 50,356 shares during the last quarter. Richard P Slaughter Associates Inc lifted its holdings in ACM Research by 94.9% in the third quarter. Richard P Slaughter Associates Inc now owns 127,810 shares of the specialty retailer’s stock worth $2,595,000 after acquiring an additional 62,247 shares during the last quarter. Millennium Management LLC lifted its holdings in ACM Research by 283.9% in the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after acquiring an additional 683,361 shares during the last quarter. Algert Global LLC lifted its holdings in ACM Research by 530.5% in the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after acquiring an additional 149,670 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in ACM Research in the third quarter worth about $1,056,000. 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.