Axcelis Technologies, Inc. (NASDAQ:ACLS) Receives $24.67 Average Target Price from Brokerages

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.67.

ACLS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Axcelis Technologies from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research report on Wednesday, May 3rd. Wedbush increased their price target on shares of Axcelis Technologies from $23.00 to $27.00 in a research report on Friday, June 16th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target (up from $20.00) on shares of Axcelis Technologies in a research report on Friday, May 5th. Benchmark Co. reissued a “buy” rating and issued a $24.00 price target (up from $21.00) on shares of Axcelis Technologies in a research report on Friday, May 5th. Finally, Stifel Nicolaus reduced their price target on shares of Axcelis Technologies from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, May 15th.

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Axcelis Technologies (NASDAQ ACLS) opened at 19.45 on Monday. The stock has a market capitalization of $607.29 million, a price-to-earnings ratio of 20.87 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 firm has a 50-day moving average of $22.07 and a 200 day moving average of $19.46.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $102.80 million during the quarter, compared to analysts’ expectations of $100.07 million. Axcelis Technologies had a return on equity of 12.52% and a net margin of 9.10%. Axcelis Technologies’s revenue for the quarter was up 59.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. On average, analysts predict that Axcelis Technologies will post $1.25 earnings per share for the current fiscal year.

In other Axcelis Technologies news, VP Lynnette C. Fallon sold 31,250 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $21.22, for a total transaction of $663,125.00. Following the transaction, the vice president now owns 49,562 shares in the company, valued at $1,051,705.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $256,638.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 284,267 shares of company stock worth $6,440,086. Corporate insiders own 5.66% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Primecap Management Co. CA increased its stake in shares of Axcelis Technologies by 4.0% in the first quarter. Primecap Management Co. CA now owns 3,617,800 shares of the semiconductor company’s stock valued at $68,015,000 after buying an additional 139,407 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Axcelis Technologies by 6.9% in the first quarter. Donald Smith & CO. Inc. now owns 2,996,651 shares of the semiconductor company’s stock valued at $56,337,000 after buying an additional 192,111 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Axcelis Technologies by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,766,009 shares of the semiconductor company’s stock valued at $33,200,000 after buying an additional 163,016 shares during the period. Vanguard Group Inc. boosted its position in shares of Axcelis Technologies by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,225,693 shares of the semiconductor company’s stock valued at $23,043,000 after buying an additional 61,085 shares during the period. Finally, Hood River Capital Management LLC boosted its position in shares of Axcelis Technologies by 39.9% in the first quarter. Hood River Capital Management LLC now owns 794,552 shares of the semiconductor company’s stock valued at $14,938,000 after buying an additional 226,611 shares during the period. Institutional investors and hedge funds own 77.13% 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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