William Blair Equities Analysts Decrease Earnings Estimates for Axcelis Technologies, Inc. (NASDAQ:ACLS)

Axcelis Technologies, Inc. (NASDAQ:ACLS) – William Blair dropped their Q2 2024 earnings per share (EPS) estimates for shares of Axcelis Technologies in a research report issued to clients and investors on Tuesday, May 7th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will post earnings of $1.31 per share for the quarter, down from their previous forecast of $1.43. The consensus estimate for Axcelis Technologies’ current full-year earnings is $6.63 per share. William Blair also issued estimates for Axcelis Technologies’ Q3 2024 earnings at $1.52 EPS, Q4 2024 earnings at $1.86 EPS, FY2024 earnings at $6.26 EPS, Q3 2025 earnings at $2.15 EPS and Q4 2025 earnings at $2.46 EPS.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.33. The business had revenue of $252.37 million during the quarter, compared to the consensus estimate of $242.61 million. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS.

A number of other brokerages have also commented on ACLS. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. B. Riley reduced their target price on Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Benchmark decreased their price target on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Craig Hallum upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Friday, May 3rd. Finally, 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 note on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Axcelis Technologies has an average rating of “Moderate Buy” and a consensus price target of $169.00.

Axcelis Technologies Trading Up 1.4 %

Shares of Axcelis Technologies stock opened at $113.04 on Wednesday. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. Axcelis Technologies has a fifty-two week low of $93.77 and a fifty-two week high of $201.00. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.24 and a beta of 1.64. The business has a fifty day simple moving average of $107.90 and a 200-day simple moving average of $120.41.

Institutional Trading of Axcelis Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of ACLS. Raymond James & Associates grew its position in shares of Axcelis Technologies by 7.8% in the third quarter. Raymond James & Associates now owns 18,393 shares of the semiconductor company’s stock valued at $2,999,000 after purchasing an additional 1,331 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Axcelis Technologies by 22.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,751 shares of the semiconductor company’s stock valued at $612,000 after purchasing an additional 700 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Axcelis Technologies by 23.3% in the third quarter. New York State Teachers Retirement System now owns 23,678 shares of the semiconductor company’s stock valued at $3,861,000 after purchasing an additional 4,472 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Axcelis Technologies by 3.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,018 shares of the semiconductor company’s stock valued at $1,796,000 after purchasing an additional 392 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Axcelis Technologies by 153.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,957 shares of the semiconductor company’s stock valued at $7,004,000 after purchasing an additional 26,038 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Insider Buying and Selling

In other Axcelis Technologies news, EVP Douglas A. Lawson bought 500 shares of Axcelis Technologies stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $111.04 per share, for a total transaction of $55,520.00. Following the completion of the acquisition, the executive vice president now owns 19,648 shares in the company, valued at approximately $2,181,713.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.14% of the stock is owned by 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.