ACM Research (NASDAQ:ACMR) Reaches New 52-Week Low - Here's What Happened

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) shares reached a new 52-week low during trading on Friday . The stock traded as low as $13.87 and last traded at $14.10, with a volume of 6060097 shares. The stock had previously closed at $16.57.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ACMR shares. Craig Hallum lowered ACM Research from a "buy" rating to a "hold" rating and dropped their price objective for the company from $30.00 to $18.00 in a research note on Thursday. Needham & Company LLC lowered shares of ACM Research from a "buy" rating to a "hold" rating and set a $25.00 price objective for the company. in a research note on Wednesday. Finally, Roth Mkm cut their price objective on ACM Research from $40.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, ACM Research presently has an average rating of "Moderate Buy" and an average price target of $30.00.

ACM Research Trading Up 5.6 %

The stock has a market capitalization of $857.75 million, a PE ratio of 11.28 and a beta of 1.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. The company's 50 day moving average price is $19.06 and its two-hundred day moving average price is $19.92.

ACM Research (NASDAQ:ACMR - Get Free Report) last announced its earnings results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The business had revenue of $204.00 million for the quarter, compared to analysts' expectations of $191.18 million. During the same period in the previous year, the company posted $0.41 EPS. The company's quarterly revenue was up 21.0% on a year-over-year basis. As a group, analysts expect that ACM Research, Inc. will post 1.12 earnings per share for the current year.

Insider Transactions at ACM Research

In other news, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total transaction of $167,657.76. Following the transaction, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of ACM Research stock in a transaction 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 approximately $58,463,767.42. The trade was a 10.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,244,016 shares of company stock valued at $26,939,953. 31.24% of the stock is currently owned by corporate insiders.

Institutional Trading of ACM Research

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of ACM Research by 2.3% during the third quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer's stock worth $23,973,000 after buying an additional 26,620 shares during the last quarter. Millennium Management LLC lifted its stake in ACM Research by 283.9% in the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer's stock valued at $21,310,000 after purchasing an additional 683,361 shares during the last quarter. Portolan Capital Management LLC lifted its position in shares of ACM Research by 7.7% during the third quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer's stock worth $18,705,000 after acquiring an additional 65,616 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of ACM Research by 9.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer's stock worth $9,412,000 after buying an additional 34,066 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $8,239,000 after buying an additional 13,879 shares in the last quarter. 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.