Zacks Investment Research upgraded shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) from a hold rating to a buy rating in a research note issued to investors on Friday morning. The firm currently has $24.00 price target on the semiconductor company’s stock.
According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “
ACLS has been the topic of a number of other reports. Benchmark Co. reiterated a buy rating and set a $21.00 price objective on shares of Axcelis Technologies in a research note on Monday, April 10th. Wedbush increased their price objective on shares of Axcelis Technologies from $23.00 to $27.00 in a research note on Friday, June 16th. Needham & Company LLC reiterated a buy rating and set a $23.00 price objective (up from $20.00) on shares of Axcelis Technologies in a research note on Friday, May 5th. Stifel Nicolaus reduced their price objective on shares of Axcelis Technologies from $19.00 to $16.00 and set a hold rating on the stock in a research note on Monday, May 15th. Finally, B. Riley reiterated a buy rating and set a $30.00 price objective on shares of Axcelis Technologies in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Axcelis Technologies has a consensus rating of Buy and an average price target of $24.67.
Axcelis Technologies (NASDAQ:ACLS) traded up 4.82% during midday trading on Friday, reaching $22.85. 552,163 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $22.72 and its 200 day moving average is $17.99. Axcelis Technologies has a 1-year low of $9.88 and a 1-year high of $26.52. The stock has a market cap of $687.67 million, a P/E ratio of 38.40 and a beta of 1.09.
Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.08. Axcelis Technologies had a net margin of 6.48% and a return on equity of 9.19%. The business had revenue of $86.90 million for the quarter, compared to the consensus estimate of $80.15 million. During the same period in the prior year, the company posted $0.02 earnings per share. Axcelis Technologies’s revenue was up 28.7% compared to the same quarter last year. Equities analysts anticipate that Axcelis Technologies will post $1.20 earnings per share for the current fiscal year.
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In other Axcelis Technologies news, EVP Douglas A. Lawson sold 12,117 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $21.18, for a total transaction of $256,638.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph P. Keithley sold 20,000 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $24.58, for a total transaction of $491,600.00. The disclosure for this sale can be found here. Insiders have sold 608,009 shares of company stock worth $13,254,355 over the last quarter. Corporate insiders own 5.66% of the company’s stock.
Large investors have recently made changes to their positions in the company. Schneider Capital Management Corp boosted its position in Axcelis Technologies by 0.7% in the first quarter. Schneider Capital Management Corp now owns 394,346 shares of the semiconductor company’s stock worth $7,414,000 after buying an additional 2,783 shares during the period. PEAK6 Investments L.P. boosted its position in Axcelis Technologies by 160.8% in the first quarter. PEAK6 Investments L.P. now owns 18,799 shares of the semiconductor company’s stock worth $353,000 after buying an additional 11,591 shares during the period. Symmetry Peak Management LLC bought a new position in Axcelis Technologies during the first quarter worth approximately $470,000. Metropolitan Life Insurance Co. NY boosted its position in Axcelis Technologies by 11.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,593 shares of the semiconductor company’s stock worth $300,000 after buying an additional 2,060 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Axcelis Technologies by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,602,993 shares of the semiconductor company’s stock worth $23,323,000 after buying an additional 82,443 shares during the period. Hedge funds and other institutional investors own 76.97% of the company’s stock.
Axcelis Technologies Company Profile
Axcelis Technologies, Inc designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.
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