Axcelis Technologies (NASDAQ:ACLS) Price Target Cut to $155.00 by Analysts at B. Riley

Axcelis Technologies (NASDAQ:ACLS) had its price objective lowered by B. Riley from $165.00 to $155.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Axcelis Technologies’ Q2 2024 earnings at $1.30 EPS, FY2024 earnings at $6.68 EPS and Q4 2025 earnings at $2.07 EPS.

A number of other equities research analysts have also recently weighed in on the stock. B. Riley Financial dropped their price target on shares of Axcelis Technologies from $180.00 to $165.00 and set a buy rating for the company in a research report on Friday, February 9th. Needham & Company LLC reiterated a hold rating on shares of Axcelis Technologies in a report on Friday. Finally, Craig Hallum upgraded Axcelis Technologies from a hold rating to a buy rating and set a $130.00 price target on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $169.00.

Axcelis Technologies Stock Up 1.8 %

ACLS stock opened at $113.43 on Friday. The firm’s 50 day moving average price is $107.85 and its 200-day moving average price is $120.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.87 and a current ratio of 4.00. The firm has a market cap of $3.69 billion, a PE ratio of 14.98, a PEG ratio of 1.24 and a beta of 1.64. Axcelis Technologies has a one year low of $93.77 and a one year high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.33. The business had revenue of $252.37 million during the quarter, compared to analysts’ expectations of $242.61 million. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. On average, equities research analysts anticipate that Axcelis Technologies will post 6.63 EPS for the current year.

Insider Buying and Selling

In other Axcelis Technologies news, EVP Douglas A. Lawson purchased 500 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was bought at an average price of $111.04 per share, with a total value of $55,520.00. Following the transaction, the executive vice president now directly owns 19,648 shares of the company’s stock, valued at approximately $2,181,713.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Axcelis Technologies

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Axcelis Technologies by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 4,040,912 shares of the semiconductor company’s stock worth $524,066,000 after buying an additional 92,584 shares in the last quarter. Invesco Ltd. grew its holdings in Axcelis Technologies by 17.1% during the 3rd quarter. Invesco Ltd. now owns 970,409 shares of the semiconductor company’s stock worth $158,225,000 after acquiring an additional 141,372 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Axcelis Technologies by 11.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 447,869 shares of the semiconductor company’s stock valued at $73,036,000 after purchasing an additional 47,133 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Axcelis Technologies by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 442,586 shares of the semiconductor company’s stock valued at $57,399,000 after purchasing an additional 3,999 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Axcelis Technologies during the 4th quarter worth $57,105,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

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.