Axcelis Technologies (ACLS) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Axcelis Technologies (NASDAQ:ACLS) from a sell rating to a hold rating in a report published on Friday morning.

Several other equities analysts have also issued reports on the company. ValuEngine lowered Axcelis Technologies from a sell rating to a strong sell rating in a research note on Friday, September 7th. Needham & Company LLC reiterated a buy rating and issued a $27.00 target price on shares of Axcelis Technologies in a research note on Friday, August 3rd. B. Riley lowered Axcelis Technologies from a buy rating to a neutral rating and cut their target price for the company from $34.00 to $20.00 in a research note on Monday, October 29th. Benchmark reiterated a buy rating and issued a $32.00 target price on shares of Axcelis Technologies in a research note on Friday, August 3rd. Finally, Craig Hallum upgraded Axcelis Technologies from a hold rating to a buy rating in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $27.00.

Shares of Axcelis Technologies stock opened at $20.09 on Friday. The firm has a market cap of $645.65 million, a PE ratio of 13.57 and a beta of 1.00. Axcelis Technologies has a 12 month low of $15.72 and a 12 month high of $31.90.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Thursday, November 1st. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. Axcelis Technologies had a return on equity of 13.86% and a net margin of 28.48%. The company had revenue of $95.40 million for the quarter, compared to analyst estimates of $97.82 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, analysts forecast that Axcelis Technologies will post 1.3 EPS for the current year.

In other Axcelis Technologies news, Director John T. Kurtzweil sold 2,500 shares of Axcelis Technologies stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $17.61, for a total value of $44,025.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.31% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ACLS. BlackRock Inc. grew its stake in shares of Axcelis Technologies by 10.9% during the second quarter. BlackRock Inc. now owns 4,529,402 shares of the semiconductor company’s stock worth $89,683,000 after acquiring an additional 445,693 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Axcelis Technologies by 7.0% during the second quarter. Legal & General Group Plc now owns 63,566 shares of the semiconductor company’s stock worth $1,253,000 after acquiring an additional 4,132 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Axcelis Technologies by 33.0% during the second quarter. Renaissance Technologies LLC now owns 214,599 shares of the semiconductor company’s stock worth $4,249,000 after acquiring an additional 53,300 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Axcelis Technologies during the second quarter worth about $373,000. Finally, Tenzing Global Management LLC grew its stake in shares of Axcelis Technologies by 23.1% during the second quarter. Tenzing Global Management LLC now owns 400,000 shares of the semiconductor company’s stock worth $7,920,000 after acquiring an additional 75,000 shares during the last quarter. Institutional investors own 82.12% 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 worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.

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Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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