ACM Research (NASDAQ:ACMR) Releases Earnings Results

ACM Research (NASDAQ:ACMR) released its quarterly earnings data on Wednesday. The specialty retailer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25, Briefing.com reports. ACM Research had a return on equity of 10.26% and a net margin of 13.79%. The business had revenue of $202.50 million during the quarter, compared to analyst estimates of $163.05 million. During the same quarter last year, the business posted $0.45 EPS. The company’s revenue was up 40.0% on a year-over-year basis. ACM Research updated its FY 2024 guidance to EPS.

ACM Research Price Performance

ACMR stock traded down $0.39 during trading on Friday, hitting $19.10. The stock had a trading volume of 1,392,126 shares, compared to its average volume of 1,519,329. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.31 and a quick ratio of 2.31. ACM Research has a twelve month low of $12.53 and a twelve month high of $34.40. The stock has a market capitalization of $1.09 billion, a P/E ratio of 14.47 and a beta of 1.55. The company’s 50-day moving average price is $21.63 and its two-hundred day moving average price is $23.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ACMR shares. Roth Mkm cut their price target on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of ACM Research in a research note on Thursday. Finally, Benchmark restated a “buy” rating and issued a $38.00 price target on shares of ACM Research in a research note on Wednesday.

Insider Buying and Selling

In related news, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total value of $2,052,900.00. Following the sale, the insider now directly owns 590,108 shares in the company, valued at approximately $13,460,363.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total value of $2,052,900.00. Following the sale, the insider now directly owns 590,108 shares in the company, valued at approximately $13,460,363.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.88, for a total value of $343,200.00. Following the completion of the sale, the director now owns 874,329 shares in the company, valued at $20,004,647.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,329 shares of company stock worth $5,440,934. Insiders own 31.24% of the company’s stock.

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.