Axcelis Technologies (NASDAQ:ACLS) Announces Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Axcelis Technologies (NASDAQ:ACLS) announced its earnings results on Wednesday. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.33, Briefing.com reports. Axcelis Technologies had a net margin of 21.78% and a return on equity of 31.66%. The firm had revenue of $252.37 million during the quarter, compared to analyst estimates of $242.61 million. During the same quarter in the prior year, the firm posted $1.43 EPS. Axcelis Technologies’s revenue was down .6% compared to the same quarter last year. Axcelis Technologies updated its Q2 guidance to $1.30 EPS and its Q2 2024 guidance to 1.300-1.300 EPS.

Axcelis Technologies Stock Up 2.1 %

Shares of NASDAQ:ACLS traded up $2.15 during trading on Thursday, reaching $103.85. 305,241 shares of the company traded hands, compared to its average volume of 660,628. The firm has a fifty day simple moving average of $107.85 and a 200 day simple moving average of $121.98. The company has a quick ratio of 2.71, a current ratio of 3.79 and a debt-to-equity ratio of 0.05. Axcelis Technologies has a 1-year low of $93.77 and a 1-year high of $201.00. The firm has a market cap of $3.39 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.64.

Analyst Ratings Changes

Several research analysts have recently issued reports on ACLS shares. B. Riley decreased their price objective on shares of Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 9th. B. Riley Financial lowered their price target on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $189.00.

Insider Transactions at Axcelis Technologies

In other news, EVP Douglas A. Lawson acquired 500 shares of Axcelis Technologies stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $111.04 per share, with a total value of $55,520.00. Following the completion of the transaction, the executive vice president now owns 19,648 shares in the company, valued at $2,181,713.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.43% of the stock is currently owned by company insiders.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.