Axcelis Technologies (ACLS) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research cut shares of Axcelis Technologies (NASDAQ:ACLS) from a hold rating to a strong sell rating in a research report sent to investors on Friday morning.

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 subject of a number of other research reports. Needham & Company LLC cut their target price on shares of Axcelis Technologies from $36.00 to $33.00 and set a buy rating for the company in a research report on Wednesday, February 7th. Stifel Nicolaus upgraded shares of Axcelis Technologies from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Monday, January 22nd. Craig Hallum cut shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Friday, November 3rd. B. Riley restated a buy rating and set a $39.00 target price on shares of Axcelis Technologies in a research report on Tuesday, December 5th. Finally, BidaskClub cut shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $32.50.

Shares of Axcelis Technologies (ACLS) opened at $23.55 on Friday. The firm has a market cap of $735.32, a PE ratio of 6.28, a PEG ratio of 0.86 and a beta of 1.01. Axcelis Technologies has a fifty-two week low of $14.60 and a fifty-two week high of $37.05.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.08. The firm had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $109.76 million. Axcelis Technologies had a net margin of 30.92% and a return on equity of 18.64%. The business’s revenue for the quarter was up 67.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share. analysts predict that Axcelis Technologies will post 1.34 earnings per share for the current fiscal year.

In other news, Director John T. Kurtzweil sold 1,800 shares of Axcelis Technologies stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $34.03, for a total transaction of $61,254.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.66% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ACLS. BlackRock Inc. grew its holdings in shares of Axcelis Technologies by 97.1% during the fourth quarter. BlackRock Inc. now owns 3,914,998 shares of the semiconductor company’s stock worth $112,361,000 after buying an additional 1,928,927 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Axcelis Technologies by 45.0% during the third quarter. Peregrine Capital Management LLC now owns 830,397 shares of the semiconductor company’s stock worth $22,711,000 after buying an additional 257,541 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Axcelis Technologies by 138.9% in the fourth quarter. Bank of New York Mellon Corp now owns 414,222 shares of the semiconductor company’s stock valued at $11,888,000 after purchasing an additional 240,807 shares during the period. SG Capital Management LLC purchased a new stake in Axcelis Technologies in the third quarter valued at approximately $6,192,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Axcelis Technologies in the fourth quarter valued at approximately $3,727,000. Institutional investors and hedge funds own 77.66% of the company’s stock.

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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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