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, July 14th. The brokerage 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. “
Several other research firms have also issued reports on ACLS. Needham & Company LLC restated a buy rating and issued a $23.00 target price (up previously from $20.00) on shares of Axcelis Technologies in a report on Friday, May 5th. Benchmark Co. restated a buy rating and issued a $21.00 target price on shares of Axcelis Technologies in a report on Monday, April 10th. B. Riley reiterated a buy rating and set a $30.00 price objective on shares of Axcelis Technologies in a report on Friday, May 5th. Stifel Nicolaus dropped their price objective on shares of Axcelis Technologies from $19.00 to $16.00 and set a hold rating on the stock in a report on Friday, May 5th. Finally, Wedbush upped their price objective on shares of Axcelis Technologies from $23.00 to $27.00 in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $24.67.
Axcelis Technologies (ACLS) opened at 20.30 on Friday. The stock has a market capitalization of $633.83 million, a P/E ratio of 21.78 and a beta of 1.11. Axcelis Technologies has a 12-month low of $11.05 and a 12-month high of $26.53. The stock has a 50 day moving average price of $21.98 and a 200-day moving average price of $19.50.
Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.01. The firm had revenue of $102.80 million during the quarter, compared to analyst estimates of $100.07 million. Axcelis Technologies had a net margin of 9.10% and a return on equity of 12.52%. Axcelis Technologies’s quarterly revenue was up 59.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. Equities research analysts expect that Axcelis Technologies will post $1.25 EPS for the current year.
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In other news, EVP Douglas A. Lawson sold 12,117 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $21.18, for a total transaction of $256,638.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph P. Keithley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were 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 sold a total of 284,267 shares of company stock valued at $6,440,086 over the last ninety days. 5.66% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. FNY Partners Fund LP purchased a new stake in Axcelis Technologies during the first quarter valued at about $107,000. Creative Planning raised its position in shares of Axcelis Technologies by 22,400.0% in the second quarter. Creative Planning now owns 5,625 shares of the semiconductor company’s stock worth $118,000 after buying an additional 5,600 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of 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 last quarter. American International Group Inc. raised its position in Axcelis Technologies by 7.1% in the first quarter. American International Group Inc. now owns 17,943 shares of the semiconductor company’s stock valued at $337,000 after buying an additional 1,184 shares in the last quarter. Finally, PEAK6 Investments L.P. raised 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 valued at $353,000 after buying an additional 11,591 shares in the last quarter. Institutional investors own 77.13% of the company’s stock.
About Axcelis Technologies
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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