ACM Research, Inc. Class A (ACMR)

ACM Research's stock experienced upward momentum between July 2025 and January 2026. The company reported its Second Quarter 2025 results on August 6, 2025. ACM Research (Shanghai) completed a capital raise of approximately $623 million in September 2025. Also in September 2025, the company launched its first Ultra Lith [KrF] track system and its first Ultra ECDP Electrochemical Deplating tool. Third Quarter 2025 financial results were released on November 5, 2025, with revenue exceeding forecasts but EPS falling below expectations. Intel reportedly tested wet etch tools from ACMR in December 2025. The company announced it would release its preliminary full-year 2025 revenue range and initial 2026 revenue outlook on January 22, 2026. The stock reached a 52-week high of $46.09 USD on January 5, 2026, and an all-time high of $53.81 on January 12, 2026. Insiders have sold approximately $8.8 million in company stock over the past three months.

Demand for ACM Research's products is characterized by "lumpy" revenue tied to the capital expenditure cycles of chipmakers. Revenue streams are predominantly driven by its core cleaning technology. ACM Research anticipates sustained demand due to continued investments in capacity expansion from its Mainland China customers. The company's upcoming preliminary 2025 revenue range and initial 2026 outlook are considered key near-term catalysts. Revenue growth is generally supported by its expanding product portfolio and customer base.

ACM Research, Inc. is an American semiconductor company specializing in wet processing technology for the semiconductor industry, focusing on semiconductor equipment and materials. The company provides advanced wafer cleaning and wet processing equipment for IC manufacturing and wafer-level packaging. Its products include single-wafer wet cleaning equipment utilizing proprietary SAPS™ and TEBO™ megasonic cleaning technologies, as well as electroplating tools, stress-free polishing, PECVD tools, track and thermal processes, and advanced packaging tools.

ACM Research is headquartered in Fremont, California, and has a significant global presence, primarily in China through its subsidiary, ACM Research (Shanghai). It maintains R&D, engineering, and manufacturing operations in Shanghai and operates a second subsidiary in Wuxi. The company provides service coverage in Beijing, Taiwan, Korea, and the U.S., and is expanding into Asia and Europe, with R&D capabilities in Oregon and investments in its South Korean facility.

ACM Research has generally maintained a positive brand reputation due to its strong growth, innovative product introductions, and strategic positioning. The company is seen as a high-growth challenger in the global semiconductor equipment market and a beneficiary of China's drive for semiconductor self-sufficiency. The launch of new tools and reports of Intel testing ACMR's wet etch tools have contributed positively. Analysts have a "Moderate Buy" consensus rating for the stock, and the company has outperformed both the US Semiconductor industry and the broader US Market. However, the company faces challenges related to its significant exposure to China and U.S. export controls. Mixed Q3 2025 earnings and recent insider selling could also impact sentiment.

ACM Research has a diverse ownership structure. Institutional investors hold a significant portion, with 447 institutional owners collectively holding between 66.75% and 69.2% of the stock. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, LSV Asset Management, Triata Capital Ltd, State Street Corp, and Mitsubishi UFJ Trust & Banking Corp. Individual investors account for approximately 13.2% of the shares. Insider ownership ranges from approximately 5.21% to 25% of the stock. The company's CEO, David Hui Wang, was the largest shareholder with 10% of shares outstanding, and Yinan Xiang, a Board Member, held about 8.0% as of 2021.