ACMR · NASDAQ · Semiconductors

ACM Research

Supplies wet-cleaning and adjacent process equipment for wafer fabrication and advanced packaging.

$75.46
After-hours close+1.06 (+1.42%)
At close$74.40(−7.57%)
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Profile

ACM Research, Inc.ACMRInformation Technology

Sells wet-cleaning, plating, furnace, PECVD, Track, and advanced-packaging equipment to chipmakers, with tool sales plus services and spares generating revenue. Wet cleaning remains the core business, while operations run principally through separately listed ACM Shanghai and equipment sales remain concentrated in mainland China.

Supplies semiconductor process equipment spanning front-end wafer fabrication and advanced packaging. Wet-cleaning systems—single-wafer, Tahoe, and semi-critical tools—remain the core business, complemented by electrochemical plating, vertical furnace, PECVD, Track, coating, developing, stripping, scrubbing, and wet-etch equipment. Proprietary SAPS, TEBO, and Tahoe processes target particle removal, pattern protection, throughput, and lower chemical consumption across foundry, logic, memory, and packaging applications.

Develops, manufactures, sells, and services equipment principally through ACM Shanghai, while sales and support teams extend into North America, Europe, and Southeast Asia. Substantially all semiconductor-equipment sales still come from customers in mainland China, despite recent deployments elsewhere. ACM Shanghai is separately listed on the STAR Market and is pursuing a Hong Kong listing; ACM Shanghai and ACM Korea are on the U.S. Entity List, restricting access to items subject to U.S. export controls.

Company facts

CEODavid H. Wang
ListedNov 3, 2017
ExchangeNASDAQ
HeadquartersFremont, CA
CountryUnited States
Employees2,513
CIK0001680062
ISINUS00108J1097

Key statistics

Market cap$4.77B
EPS (ttm)$2.10
P/E (ttm)35.44
ROE9.5%
P/B2.72
P/S4.60
Dividend yield
Beta3.69vs XLK 2.20

Year to date +65.8% · Average volume (30d) 950.9K

Analysts

Price target, next 12 months$125.00+68.0%Median of 10 analysts · vs the Aug 28 close
ConsensusBuy8 of 10 analysts rate it buy or better

Ratings

Target range

Latest analyst notes

DateFirmActionPrior ratingRatingPrior targetTarget
Aug 25, 2026DaiwaInitiateBuy$136
Aug 10, 2026Craig-HallumReiterateBuy$100
Jun 23, 2026Morgan StanleyReiterateOverweight$130
Jun 17, 2026Roth CapitalTarget$100$125
Jun 1, 2026Roth CapitalTarget$40$100

Earnings

EPS

Estimate$0.51
ReportedDue Nov 4, 2026

Revenue

Estimate$308.5M
ReportedDue Nov 4, 2026

History

Report dateEPS estEPSSurpriseRevenue estRevenueSurpriseNext session
Aug 7, 2026Q2 FY26$0.42$0.61+45.7%$269.3M$292.9M+8.8%+6.10%
May 7, 2026Q1 FY26$0.26$0.34+33.3%$215.7M$231.3M+7.2%+1.10%
Feb 26, 2026Q4 FY25$0.39$0.25−35.9%$241.3M$244.4M+1.3%−2.38%
Nov 5, 2025Q3 FY25$0.47$0.36−23.4%$248.4M$269.2M+8.3%−0.71%
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Financial highlights

12 quartersQ1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$172.3M$215.4M$269.2M$244.4M$231.3M$292.9M
Gross profit$82.6M$104.5M$113.1M$99.9M$107.2M$134.6M
Operating income$25.8M$31.7M$28.9M$23.0M$36.2M$49.7M
Net income$20.4M$29.8M$35.9M$8.0M$17.3M$89.0M
Diluted EPS$0.30$0.44$0.52$0.11$0.24$1.23
Gross margin47.9%48.5%42.0%40.9%46.4%46.0%
Operating margin15.0%14.7%10.7%9.4%15.6%17.0%

Fiscal years (4-quarter sums)FY21 $259.8M · FY22 $388.8M · FY23 $557.7M · FY24 $782.1M · FY25 $901.3M

Revenue by product · Q2 FY26

Total Single Wafer And Semi-Critical Cleaning Equipment$133.0M · 45%
ECP Front End And Packaging Furnace And Other Technologies$128.5M · 44%
Advanced Packaging (Exclude ECP), Services & Spares$31.4M · 11%

Revenue by geography · FY24

China$775.8M · 99%
Oher Regions$6.4M · 1%

Balance sheet, Jun 30, 2026Cash & short-term investments $1.46B · Total debt $349.3M · Total assets $3.40B · Shareholders' equity $1.86B

Dividends

No dividends on record.

Ownership

Institutions 88.15%56.52M sharesInsiders 2.37%1.52M sharesOther 9.48%6.08M shares

Shares outstanding 64.12M · Float 58.44M · 91.1% free float

Top shareholders13F · 13D/G · Form 4

HolderShares% outstandingFormFiled
BlackRock, Inc.8.66M13.51%13FAug 7, 2026
Vanguard Portfolio Management3.41M5.31%13GJul 31, 2026
Vanguard Capital Management LLC2.46M3.84%13FAug 13, 2026
Capital World Investors2.40M3.74%13FAug 12, 2026
State Street Corp2.19M3.41%13FAug 7, 2026

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Aug 20, 2026Mark McKechnieofficer: See Remarks−55,199$77.27
Aug 18, 2026Haiping Dundirector−5,000$81.13
Jun 4, 2026David H. Wangdirector, 10 percent owner, officer: See Remarks−40,002$85.80
Jun 3, 2026David H. Wangdirector, 10 percent owner, officer: See Remarks−60,000$90.05
Jun 5, 2026Sotheara Cheavofficer: See remarks−5,399$83.18
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Peers

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