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

ACM Research (NASDAQ:ACMR) will be issuing its quarterly earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. ACM Research has set its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results 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 business had revenue of $170.30 million for the quarter, compared to the consensus estimate of $149.54 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter 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

Shares of NASDAQ:ACMR opened at $25.52 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.35 and a quick ratio of 1.26. ACM Research has a 1-year low of $8.75 and a 1-year high of $34.40. The company has a market capitalization of $1.43 billion, a P/E ratio of 21.81 and a beta of 1.39. The firm’s 50 day simple moving average is $28.29 and its two-hundred day simple moving average is $21.60.

Insider Buying and Selling

In related news, insider David H. Wang sold 90,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.36, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ACM Research news, Director Tracy Liu sold 12,500 shares of the business’s stock in a transaction 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 transaction, the director now owns 110,772 shares in the company, valued at $2,791,454.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David H. Wang sold 90,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.36, for a total transaction of $2,732,400.00. Following the transaction, the insider now owns 591,107 shares in the company, valued at approximately $17,946,008.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,434 shares of company stock worth $4,375,572. Insiders own 33.63% of the company’s stock.

Analyst Upgrades and Downgrades

ACMR has been the topic of several recent analyst reports. 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 report on Thursday, February 29th. Benchmark lifted their price objective on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Roth Mkm lifted their price objective on shares of ACM Research from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Needham & Company LLC lifted their price objective on shares of ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $31.88.

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.