ACM Research (ACMR) to Release Quarterly Earnings on Friday

ACM Research (NASDAQ:ACMR) is scheduled to post its quarterly earnings results on Friday, April 26th. ACM Research has set its FY 2024 guidance at EPS.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.27. ACM Research had a return on equity of 9.23% and a net margin of 13.87%. The business had revenue of $170.30 million for the quarter, compared to the consensus estimate of $149.54 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 57.0% compared to the same quarter last year. On average, analysts expect ACM Research to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

ACM Research Trading Up 2.8 %

Shares of ACMR stock opened at $28.15 on Thursday. ACM Research has a 1 year low of $8.75 and a 1 year high of $34.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.35 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $27.69 and its two-hundred day simple moving average is $21.37. The company has a market cap of $1.58 billion, a PE ratio of 24.06 and a beta of 1.39.

Insider Transactions at ACM Research

In other news, insider David H. Wang sold 90,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.36, for a total value of $2,732,400.00. Following the sale, the insider now directly owns 591,107 shares in the company, valued at $17,946,008.52. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider David H. Wang sold 90,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.36, for a total value of $2,732,400.00. Following the transaction, the insider now owns 591,107 shares of the company’s stock, valued at $17,946,008.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sotheara Cheav sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total value of $145,450.00. Following the completion of the transaction, the insider now directly owns 105,002 shares in the company, valued at approximately $3,054,508.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,434 shares of company stock worth $4,375,572. 33.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Needham & Company LLC upped their price objective on ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Benchmark upped their price objective on ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group upgraded ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Thursday, February 29th. Finally, Roth Mkm increased their price target on ACM Research from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ACM Research presently has a consensus rating of “Buy” and an average target price of $31.88.

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.