Axcelis Technologies, Inc. (NASDAQ:ACLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $36.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.42% from the stock’s current price.
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 analysts have also recently commented on ACLS. Benchmark Co. reiterated a “buy” rating and issued a $28.00 price objective (up previously from $24.00) on shares of Axcelis Technologies in a research note on Friday, September 8th. ValuEngine upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub cut shares of Axcelis Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Stifel Nicolaus raised their price objective on shares of Axcelis Technologies from $20.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of Axcelis Technologies in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Axcelis Technologies presently has an average rating of “Hold” and an average target price of $29.83.
Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). Axcelis Technologies had a return on equity of 12.52% and a net margin of 9.10%. The firm had revenue of $102.80 million during the quarter, compared to analyst estimates of $100.07 million. During the same quarter last year, the business posted $0.10 EPS. The firm’s revenue was up 59.4% on a year-over-year basis.
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In related news, EVP Douglas A. Lawson sold 14,454 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $21.12, for a total value of $305,268.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William J. Bintz sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $22.57, for a total transaction of $282,125.00. The disclosure for this sale can be found here. Insiders sold 106,641 shares of company stock valued at $2,347,514 in the last quarter. Company insiders own 5.66% of the company’s stock.
Large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Axcelis Technologies by 391.3% during the 2nd quarter. Royal Bank of Canada now owns 4,913 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 3,913 shares in the last quarter. Creative Planning increased its holdings in Axcelis Technologies by 22,400.0% during the 2nd quarter. Creative Planning now owns 5,625 shares of the semiconductor company’s stock valued at $118,000 after acquiring an additional 5,600 shares in the last quarter. J.P. Marvel Investment Advisors LLC purchased a new position in Axcelis Technologies during the 2nd quarter valued at about $220,000. Voya Investment Management LLC purchased a new position in Axcelis Technologies during the 2nd quarter valued at about $271,000. Finally, American International Group Inc. increased its holdings in Axcelis Technologies by 7.1% during the 1st quarter. American International Group Inc. now owns 17,943 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 1,184 shares in the last quarter. Hedge funds and other institutional investors own 74.68% 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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