These sales were made under a Rule 10b5-1 trading plan, which Wang adopted in May 2024 and amended in August 2024. Following these transactions, Wang retains direct ownership of 654,256 shares. Additionally, he holds indirect ownership through family trusts and other entities, totaling several hundred thousand shares. Despite the recent insider sale, InvestingPro data reveals strong fundamentals, with the company maintaining a healthy current ratio of 2.37 and robust revenue growth of 47% over the last twelve months. Investors seeking deeper insights can access comprehensive analysis and 12 additional ProTips through the detailed Pro Research Report, available exclusively to InvestingPro subscribers. Despite the recent insider sale, InvestingPro data reveals strong fundamentals, with the company maintaining a healthy current ratio of 2.37 and robust revenue growth of 47% over the last twelve months. Investors seeking deeper insights can access comprehensive analysis and 12 additional ProTips through the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
These sales were made under a Rule 10b5-1 trading plan, which Wang adopted in May 2024 and amended in August 2024. Following these transactions, Wang retains direct ownership of 654,256 shares. Additionally, he holds indirect ownership through family trusts and other entities, totaling several hundred thousand shares.
In other recent news, ACM Research (NASDAQ:ACMR) has released its Fiscal Third Quarter 2024 Earnings Conference Call results, showcasing a 21% increase in revenue year-over-year, amounting to $204 million. This growth has led the company to raise its revenue outlook for 2024 to between $725 million and $745 million, signifying a projected 32% year-over-year growth. This aligns with ACM Research's ongoing expansion in the U.S., China, and other global markets.
Shipments for the quarter also saw a rise of 23% to $261 million, with a nine-month total hitting $709.7 million, marking a 56% increase. The company's gross margin surpassed its long-term target of 40% to 45%, reaching 51.6%. Despite concerns over the slowing advanced packaging market in China, ACM Research remains optimistic about its growth, particularly in the U.S., Korea, Taiwan, and Europe.
The company has also made significant advancements in the Ultra C Tahoe environmental solution, which offers substantial cost savings and reduced chemical consumption. Additionally, ACM Research has opened a new Lingang production and R&D center in China and acquired a new facility in Oregon, expanding its operational capacity. These are all recent developments that underscore ACM Research's robust financial performance and strategic global expansion.
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