ACM Research (ACMR) Set to Announce Quarterly Earnings on Friday

ACM Research (NASDAQ:ACMR) is scheduled to announce its 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 for the quarter, beating the consensus estimate of $0.16 by $0.27. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The company had revenue of $170.30 million for the quarter, compared to analyst estimates of $149.54 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The company’s revenue was up 57.0% on a year-over-year basis. 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 Price Performance

NASDAQ:ACMR opened at $28.15 on Thursday. ACM Research has a 52 week low of $8.75 and a 52 week high of $34.40. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 24.06 and a beta of 1.39. The firm’s 50-day simple moving average is $27.69 and its 200 day simple moving average is $21.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.26 and a current ratio of 2.35.

Insider Activity

In other news, Director Tracy Liu sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total value of $315,000.00. Following the sale, the director now directly owns 110,772 shares in the company, valued at approximately $2,791,454.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Tracy Liu sold 12,500 shares of ACM Research stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total transaction of $315,000.00. Following the sale, the director now directly owns 110,772 shares in the company, valued at approximately $2,791,454.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.36, for a total transaction of $2,732,400.00. Following the sale, the insider now owns 591,107 shares in the company, valued at $17,946,008.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,434 shares of company stock worth $4,375,572. Corporate insiders own 33.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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