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FREMONT, CA – ACM Research, Inc. (NASDAQ:ACMR), a provider of wafer processing solutions for semiconductor manufacturing, announced Monday that board member Chenming C. Hu will not seek reelection at the upcoming 2025 Annual Meeting of Stockholders. Dr. Hu, who has served on the board, conveyed his decision to the company on April 18, 2025, with no disagreements cited regarding ACM Research’s operations, policies, or practices. The announcement comes as the company maintains strong financial health, with InvestingPro data showing robust profitability and a healthy balance sheet, including more cash than debt.
Dr. Hu’s departure is not related to any conflict with the company’s direction or management. He will continue to fulfill his directorial duties until the end of his term at the annual meeting. The company has not disclosed any further details regarding a potential successor or the impact of Dr. Hu’s impending departure on the board’s composition. The transition comes as ACM Research prepares to report its next earnings on May 8, 2025, with analysts maintaining positive forecasts for the company’s performance.
This development comes as part of the regulatory disclosure in a Form 8-K filed with the Securities and Exchange Commission on April 21, 2025. The filing also included routine financial statements and exhibits as required by SEC regulations. ACM Research has not provided additional information on how the board plans to address the vacancy following Dr. Hu’s term.
Investors and stakeholders of ACM Research are now anticipating the company’s next steps in reconfiguring its board’s makeup ahead of the annual meeting. Dr. Hu’s experience and expertise have been valuable assets to the company, and his decision not to stand for reelection marks a notable change in the board’s dynamics.
ACM Research’s shares are publicly traded on The Nasdaq Stock Market under the ticker symbol ACMR. The company specializes in developing equipment used in the fabrication of semiconductor devices, a critical industry for the global technology sector. According to InvestingPro analysis, the stock appears undervalued at current levels, with impressive revenue growth of 40% in the last twelve months and a favorable P/E ratio of 10.9x. Investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research report, which is part of their coverage of over 1,400 US stocks.
This report is based on a press release statement and the company’s recent SEC filing, providing shareholders and the public with the latest corporate governance developments at ACM Research.
In other recent news, ACM Research reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an earnings per share of $0.56, significantly higher than the forecasted $0.3357. The company also reported revenue of $223.5 million for the quarter, which exceeded the expected $181.08 million, marking a 31.2% year-over-year increase. For the full year, ACM Research achieved revenue of $782.1 million, up 40.2% from the previous year. In addition, JPMorgan initiated coverage on ACM Research with an Overweight rating, citing the company’s strong position in the semiconductor industry and its potential for growth in the China market. The firm set a price target of $36.00, highlighting ACM Research’s robust customer base and strategic expansion efforts. Furthermore, ACM Research announced the appointment of Charlie Pappis to its Board of Directors, bringing over four decades of industry experience to support the company’s growth strategy. The company also provided an update on its investor relations activities, detailing recent interactions with investors in a filing with the Shanghai Stock Exchange.
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