ACM Research, Inc.
- Open
- 79.03
- Day high
- 86.99
- Day low
- 77.46
- Prev close
- 84.09
- Volume
- 951K
- Mkt cap
- $5.6B
- P/E (TTM)
- 59.5
- EPS (TTM)
- $1.41
- P/B
- 3.5
- P/S
- 5.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$11.0M over the last 3 months (0 open-market buys, 23 sales)
- 🏛Institutions mixed (13F)
ACM Research, Inc. (ACMR) is a Technology company listed on NASDAQ. The stock is up 179% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 23 sales (SEC Form 4).
ACM Research, Inc. (ACMR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ACMR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.26 | $0.34 | +33.3% | $231M | +7.2% |
| Feb 26, 2026 | $0.39 | $0.12 | -70.0% | $244M | +1.3% |
| Nov 5, 2025 | $0.47 | $0.36 | -23.4% | $269M | +8.3% |
| Aug 6, 2025 | $0.42 | $0.54 | +28.6% | $215M | -14.6% |
| May 8, 2025 | $0.37 | $0.46 | +24.3% | $172M | -22.0% |
| Feb 26, 2025 | $0.31 | $0.56 | +80.6% | $223M | +24.4% |
| Nov 7, 2024 | $0.37 | $0.63 | +70.3% | $204M | +6.7% |
| Feb 28, 2024 | $0.10 | $0.43 | +330.0% | $170M | +14.1% |
| Aug 4, 2023 | $0.12 | $0.48 | +300.0% | $145M | +25.1% |
| May 5, 2023 | $-0.10 | $0.15 | +250.0% | $74M | +2.0% |
| Feb 24, 2023 | $0.14 | $0.19 | +35.7% | $109M | +8.2% |
| Nov 4, 2022 | $0.24 | $0.45 | +87.5% | $134M | +18.9% |
ACMR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Grant | 6,208 | — |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Sell | 5,843 | $92.38 |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Option | 60,000 | $1.00 |
| Jun 5, 2026 | Cheav Sothearaofficer: See remarks | Option | 5,399 | $13.89 |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Sell | 4,300 | $87.57 |
| Jun 5, 2026 | Cheav Sothearaofficer: See remarks | Sell | 400 | $84.01 |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Sell | 6,295 | $88.98 |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Sell | 17,543 | $85.11 |
| Jun 5, 2026 | Cheav Sothearaofficer: See remarks | Sell | 9,212 | $85.11 |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Sell | 8,581 | $87.13 |
| Jun 5, 2026 | Cheav Sothearaofficer: See remarks | Option | 13,351 | $13.89 |
| Jun 5, 2026 | Cheav Sothearaofficer: See remarks | Sell | 1,300 | $84.08 |
| Jun 5, 2026 | Cheav Sothearaofficer: See remarks | Sell | 968 | $82.61 |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Sell | 32,450 | $89.84 |
| Jun 5, 2026 | Wang David Hdirector, 10 percent owner, officer: See Remarks | Sell | 1,187 | $93.04 |
Source: ACMR SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full ACMR insider & 13F page →ACM Research, Inc. company profile
Overview
ACM Research, Inc. (NASDAQ:ACMR) is a semiconductor equipment manufacturer founded in 1998 and headquartered in Fremont, California. The company went public in November 2017 and has emerged as a significant player in the global semiconductor manufacturing equipment industry. ACM Research specializes in developing and manufacturing single-wafer wet cleaning equipment and other critical semiconductor fabrication tools that enhance manufacturing processes and yield for integrated circuits. The company has established a strong presence in China's semiconductor market while expanding its global footprint through facilities in the United States, Korea, and other international markets.
Business
ACM Research operates in the semiconductor equipment manufacturing industry, which provides the specialized machinery and tools necessary for producing computer chips and integrated circuits. The semiconductor manufacturing process is extraordinarily complex, requiring dozens of precise steps to create the microscopic circuits that power modern electronics. One of the most critical aspects of this process is cleaning - removing contaminants, residues, and unwanted materials from silicon wafers at various stages of production. The company's core business revolves around three main product segments: Single-Wafer Cleaning Equipment (75% of revenue): This includes ACM's flagship Ultra C brand cleaning tools that use proprietary technologies like Space Alternated Phase Shift (SAPS) technology and Timely Energized Bubble Oscillation (TEBO) technology. These tools clean individual silicon wafers using precisely controlled megasonic waves and chemical processes. The company's breakthrough Tahoe technology represents a significant advancement, reducing chemical consumption by up to 75% while maintaining superior cleaning performance - crucial for manufacturing advanced AI chips and other high-performance semiconductors. Electrochemical Plating (ECP), Furnace, and Other Technologies (16% of revenue): The ECP tools deposit thin metal layers onto wafers through electrochemical processes, essential for creating the interconnections within semiconductor devices. The furnace products perform high-temperature processes necessary for various manufacturing steps. ACM has been rapidly expanding this segment, introducing new furnace technologies and developing PECVD (Plasma Enhanced Chemical Vapor Deposition) and track coating systems. Advanced Packaging Solutions (9% of revenue): These tools address the growing need for advanced chip packaging, particularly for AI processors and high-performance computing applications. This includes panel-level packaging tools that enable more efficient packaging of multiple chips simultaneously, and specialized cleaning tools for 2.5D and 3D packaging architectures. The semiconductor equipment industry serves chip manufacturers (foundries) and integrated device manufacturers (IDMs) who require these tools to produce everything from memory chips to processors to power semiconductors used in electric vehicles and renewable energy systems.
Revenue model
ACM Research generates revenue primarily through direct sales of semiconductor manufacturing equipment to chip manufacturers and foundries. The company operates on a capital equipment sales model, where customers purchase expensive, specialized machines that typically cost hundreds of thousands to millions of dollars each. Revenue is recognized when equipment is delivered, installed, and accepted by customers. The company's customers are primarily semiconductor manufacturers in China, which represents the substantial majority of current revenue, though ACM is actively expanding to serve customers in the United States, Korea, Taiwan, and Europe. These customers include both pure-play foundries that manufacture chips for other companies and integrated device manufacturers that produce chips for their own products. Several factors significantly impact ACM's profitability and margins. Positive margin drivers include the company's proprietary technologies that command premium pricing, particularly the Tahoe cleaning technology that offers superior performance with reduced chemical consumption. The company's strong market position in China, where it holds an estimated 25% market share in wafer cleaning equipment, provides pricing power. Additionally, the shift toward more advanced packaging for AI and high-performance computing creates demand for ACM's specialized tools. Margin pressures come from supply chain costs and component availability, which have been challenging in recent years. Currency fluctuations affect margins since the company operates globally but reports in US dollars. Competitive pressure from established players like Applied Materials and Tokyo Electron can impact pricing. Regulatory restrictions, such as ACM's addition to the US Department of Commerce Entity List in December 2024, create supply chain complexity and potentially higher costs as the company works to localize sourcing and reduce dependence on US-origin components. The company's business model benefits from recurring revenue streams through spare parts, service, and upgrades to installed equipment, though the primary revenue driver remains new equipment sales. ACM also receives dividends from its 81.5% ownership stake in ACM Shanghai, a separately listed entity, which provides additional cash flow.
Risks & safety
ACM Research demonstrates a strong financial position with substantial cash reserves and manageable debt levels, though some operational cash flow volatility exists. • Liquidity and Solvency: Strong balance sheet with $457 million in cash and short-term investments as of Q1 2025, current ratio of 2.46, and quick ratio of 1.49. Total debt-to-equity ratio of 0.25 indicates conservative leverage. • Cash Flow Considerations: Operating cash flow can be volatile due to working capital changes and timing of shipments. Q1 2025 showed negative free cash flow of -$12 million, though full-year 2024 generated positive $70 million in free cash flow. • Valuation Metrics: Trading at P/E ratio of 18.1x based on recent earnings, EV/EBITDA of 12.2x. Price-to-book ratio of 1.56 suggests reasonable valuation relative to tangible assets. • Growth Investment Impact: Significant capital investments in new facilities (Lingang center, Oregon facility) and R&D are currently pressuring cash flows but support long-term growth strategy. • Regulatory Risk: Entity List designation creates supply chain complexity and potential cost increases, though company maintains strong cash position to navigate challenges.
Recent development
Over the past few years, ACM Research has executed a comprehensive growth strategy focused on product portfolio expansion, geographic diversification, and capacity building. The company has significantly broadened its technology offerings beyond its core cleaning equipment, introducing furnace technologies that now serve 17 customers and developing new platforms including PECVD and track coating systems. This expansion has effectively doubled the company's served addressable market to an estimated $16 billion. A major strategic development has been ACM's push into advanced packaging solutions, particularly for AI and high-performance computing applications. The company introduced the Ultra ECP ap-p plating tool for panel-level packaging and has been developing specialized cleaning tools for 2.5D and 3D packaging architectures. This positions ACM to benefit from the growing complexity of chip packaging driven by AI processor demands. Geographic expansion represents another key strategic pivot. While China continues to generate the substantial majority of revenue, ACM has invested significantly in international expansion, including purchasing a 40,000 square foot R&D facility in Oregon and establishing evaluation programs with customers in the United States, Korea, and Europe. The company has set an ambitious long-term target of generating 50% of its revenue from markets outside China. The completion of ACM's Lingang Production and R&D Center in Shanghai represents a major capacity expansion, potentially supporting up to $3 billion in annual production capacity. This facility expansion coincides with the company raising its long-term revenue target from $1 billion to $3 billion, with equal contributions expected from Chinese and international markets. Recent regulatory challenges have accelerated ACM's supply chain localization efforts. Following its addition to the US Entity List in December 2024, the company has been actively working to reduce dependence on US-origin components and establish alternative supply sources, while maintaining compliance with all applicable regulations.
ACMR company profile · for informational purposes only — not investment advice.
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