ACM Research entity list ban-related selling looks ‘overdone,’ says Benchmark

Benchmark notes that ACM Research (ACMR) shares have come under pressure this week because of some insider selling and the firm’s inclusion on the U.S. entity list that prompted a couple of sell-side downgrades, but it believes the selling is “overdone and the shares are currently at a bargain basement valuation.” Sales have been growing at a high 20% compound annual growth rate over the past four years and the company has reported strong shipments for this year, notes the firm, which reiterates its Buy recommendation and $38 price target on the shares.