Zacks Investment Research Upgrades Axcelis Technologies, Inc. (ACLS) to “Buy”
Axcelis Technologies, Inc. (NASDAQ:ACLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $26.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.35% 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. “
A number of other analysts have also recently issued reports on ACLS. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price objective (up from $23.00) on shares of Axcelis Technologies in a research report on Friday, June 16th. Wedbush raised their price objective on Axcelis Technologies from $23.00 to $27.00 in a research report on Friday, June 16th. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Axcelis Technologies in a research report on Friday, August 4th. BidaskClub cut Axcelis Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, ValuEngine raised Axcelis Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Axcelis Technologies currently has an average rating of “Buy” and a consensus price target of $25.67.
Axcelis Technologies (NASDAQ:ACLS) opened at 23.35 on Friday. The firm has a market capitalization of $729.06 million, a price-to-earnings ratio of 25.05 and a beta of 1.08. Axcelis Technologies has a one year low of $11.05 and a one year high of $26.53. The stock’s 50 day moving average price is $21.09 and its 200-day moving average price is $20.39.
Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). Axcelis Technologies had a net margin of 9.10% and a return on equity of 12.52%. The business had revenue of $102.80 million during the quarter, compared to analyst estimates of $100.07 million. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 59.4% on a year-over-year basis. On average, equities research analysts expect that Axcelis Technologies will post $1.26 EPS for the current fiscal year.
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In related news, EVP William J. Bintz sold 12,500 shares of Axcelis Technologies stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $22.57, for a total transaction of $282,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin J. Brewer sold 17,339 shares of Axcelis Technologies stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $20.75, for a total value of $359,784.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,641 shares of company stock valued at $2,347,514. 5.66% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. J.P. Marvel Investment Advisors LLC acquired a new stake in Axcelis Technologies during the 2nd quarter worth approximately $220,000. Navellier & Associates Inc acquired a new stake in Axcelis Technologies during the 2nd quarter worth approximately $379,000. USA Financial Portformulas Corp acquired a new stake in Axcelis Technologies during the 2nd quarter worth approximately $1,022,000. CS Mckee LP acquired a new stake in Axcelis Technologies during the 2nd quarter worth approximately $752,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Axcelis Technologies by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,397 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 660 shares during the last quarter. 75.85% of the stock is owned by institutional investors and hedge funds.
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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