Dun Haiping, a director at ACM Research, Inc. (NASDAQ:), a company currently trading at a P/E ratio of 11.02 and showing strong profitability with a 49% gross margin, recently sold 19,058 shares of Class A Common Stock. The transactions, executed on November 29, 2024, were carried out under a pre-established Rule 10b5-1 trading plan. The shares were sold at a weighted average price of $17.43, with prices ranging from $17.15 to $17.65, totaling approximately $332,180. Following these sales, Dun Haiping retains direct ownership of 755,090 shares and an additional 100,000 shares indirectly through the Dun Family GST Trust. According to InvestingPro analysis, ACMR appears undervalued at current levels, with strong fundamentals including a healthy balance sheet and robust revenue growth of 47% over the last twelve months. For comprehensive insights and 12 additional ProTips about ACMR, including detailed valuation metrics and growth prospects, visit InvestingPro.
In other recent news, ACM Research reported a notable 21% increase in its Fiscal Third Quarter 2024 earnings, with revenue reaching $204 million. The company also raised its 2024 revenue outlook, now expecting between $725 million to $745 million, marking a projected 32% growth year-over-year. This aligns with ACM Research’s plans for strategic expansion in the U.S., China, and other global markets.
Shipments for the quarter rose by 23% to $261 million, and gross margin exceeded the long-term target, standing at 51.6%. Significant advancements were made in the Ultra C Tahoe environmental solution, which offers substantial cost savings and reduced chemical consumption. Further, ACM Research celebrated the opening of its new Lingang production and R&D center in China and the acquisition of a new facility in Oregon.
Despite concerns about the slowing advanced packaging market in China, ACM Research remains optimistic about international expansion, particularly in the U.S., Korea, Taiwan, and Europe. These recent developments underline ACM Research’s commitment to growth and its ability to adapt to market changes.
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