The Goldman Sachs Group Lowers ACM Research (NASDAQ:ACMR) to Neutral

ACM Research (NASDAQ:ACMRGet Rating) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Sunday, The Fly reports.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 8th. Roth Capital dropped their price objective on ACM Research from $40.00 to $33.33 in a research note on Thursday, March 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, ACM Research has a consensus rating of “Buy” and an average price target of $38.40.

Shares of NASDAQ ACMR traded down $1.14 during midday trading on Friday, hitting $14.89. 556,826 shares of the company’s stock were exchanged, compared to its average volume of 789,705. ACM Research has a 12-month low of $14.07 and a 12-month high of $39.71. The company has a current ratio of 4.63, a quick ratio of 3.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $804.51 million, a price-to-earnings ratio of 37.54 and a beta of 0.77. The business’s fifty day moving average price is $19.53 and its two-hundred day moving average price is $25.41.

ACM Research (NASDAQ:ACMRGet Rating) last issued its earnings results on Friday, May 6th. The specialty retailer reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.10. The business had revenue of $42.20 million during the quarter, compared to analyst estimates of $49.25 million. ACM Research had a return on equity of 9.91% and a net margin of 14.54%. ACM Research’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities analysts expect that ACM Research will post 0.41 earnings per share for the current fiscal year.

In related news, Director Haiping Dun sold 12,269 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $82.09, for a total transaction of $1,007,162.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Mckechnie sold 5,000 shares of the stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $64.20, for a total value of $321,000.00. The disclosure for this sale can be found here. 46.02% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. boosted its holdings in shares of ACM Research by 982.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 563 shares of the specialty retailer’s stock worth $48,000 after buying an additional 511 shares during the last quarter. Maverick Capital Ltd. raised its position in shares of ACM Research by 21.8% during the third quarter. Maverick Capital Ltd. now owns 1,421 shares of the specialty retailer’s stock valued at $156,000 after buying an additional 254 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of ACM Research during the third quarter valued at approximately $172,000. Victory Capital Management Inc. bought a new stake in shares of ACM Research during the third quarter valued at approximately $202,000. Finally, Citigroup Inc. raised its position in shares of ACM Research by 464.6% during the third quarter. Citigroup Inc. now owns 1,880 shares of the specialty retailer’s stock valued at $207,000 after buying an additional 1,547 shares during the last quarter. 19.88% of the stock is currently owned by institutional investors.

About ACM Research (Get Rating)

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.

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