Axcelis Technologies (NASDAQ:ACLS) Issues Quarterly Earnings Results

Axcelis Technologies (NASDAQ:ACLS) posted its quarterly earnings data on Wednesday. The semiconductor company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.33, Briefing.com reports. Axcelis Technologies had a return on equity of 31.66% and a net margin of 21.78%. The business had revenue of $252.37 million during the quarter, compared to the consensus estimate of $242.61 million. During the same period in the prior year, the company earned $1.43 earnings per share. The company’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 1.2 %

NASDAQ ACLS traded up $1.18 during trading on Thursday, hitting $102.88. 255,193 shares of the company traded hands, compared to its average volume of 659,784. The company has a market capitalization of $3.35 billion, a P/E ratio of 12.87, a PEG ratio of 1.11 and a beta of 1.64. The business has a fifty day simple moving average of $107.85 and a 200 day simple moving average of $121.98. Axcelis Technologies has a 12 month low of $93.77 and a 12 month high of $201.00. The company has a current ratio of 3.79, a quick ratio of 2.71 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

Several research firms have issued reports on ACLS. B. Riley cut their price objective on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 9th. B. Riley Financial dropped their price objective on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Axcelis Technologies has an average rating of “Moderate Buy” and an average target price of $189.00.

Insider Activity

In related news, EVP Douglas A. Lawson acquired 500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $111.04 per share, with a total value of $55,520.00. Following the completion of the acquisition, the executive vice president now owns 19,648 shares of the company’s stock, valued at $2,181,713.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.43% of the stock is currently owned by company insiders.

About Axcelis Technologies

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.