ACM Research (NASDAQ:ACMR) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

ACM Research (NASDAQ:ACMR) announced its quarterly earnings results on Wednesday. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.12, Zacks reports. ACM Research had a net margin of 12.38% and a return on equity of 9.07%.

ACM Research Trading Up 22.7 %

Shares of ACMR stock traded up $5.22 during trading hours on Wednesday, reaching $28.16. The company’s stock had a trading volume of 3,835,860 shares, compared to its average volume of 1,553,676. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $18.91 and its 200 day simple moving average is $18.53. The stock has a market capitalization of $1.62 billion, a P/E ratio of 21.17 and a beta of 1.58. ACM Research has a one year low of $13.87 and a one year high of $34.40.

Insider Buying and Selling

In other ACM Research news, insider Sotheara Cheav sold 22,598 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $23.00, for a total transaction of $519,754.00. Following the completion of the sale, the insider now directly owns 100,002 shares of the company’s stock, valued at $2,300,046. This trade represents a 18.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 31.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Craig Hallum lowered shares of ACM Research from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $30.00 to $18.00 in a research note on Thursday, December 5th. Needham & Company LLC cut ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.