Axcelis Technologies (NASDAQ:ACLS) Releases Quarterly Earnings Results

Axcelis Technologies (NASDAQ:ACLS) posted its quarterly earnings data on Tuesday. The semiconductor company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.37, FiscalAI reports. The business had revenue of $238.33 million for the quarter, compared to analyst estimates of $215.04 million. Axcelis Technologies had a return on equity of 14.58% and a net margin of 15.93%.

Axcelis Technologies Stock Up 4.2%

Shares of NASDAQ:ACLS traded up $3.95 during trading on Tuesday, hitting $98.50. 1,637,886 shares of the company were exchanged, compared to its average volume of 667,772. The stock has a market capitalization of $3.02 billion, a P/E ratio of 23.29 and a beta of 1.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.95 and a quick ratio of 3.32. Axcelis Technologies has a 12-month low of $40.40 and a 12-month high of $102.93. The firm’s 50 day moving average price is $88.30 and its 200-day moving average price is $85.45.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Axcelis Technologies in a report on Monday, December 22nd. Wall Street Zen lowered shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. B. Riley Financial lifted their price target on shares of Axcelis Technologies from $84.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Zacks Research cut shares of Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Bank of America increased their price objective on shares of Axcelis Technologies from $90.00 to $100.00 and gave the company an “underperform” rating in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $102.25.

Insiders Place Their Bets

In other Axcelis Technologies news, EVP Gerald M. Blumenstock sold 3,034 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $89.46, for a total value of $271,421.64. Following the completion of the sale, the executive vice president owned 18,661 shares in the company, valued at approximately $1,669,413.06. The trade was a 13.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorge Titinger sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $86.05, for a total transaction of $172,100.00. Following the transaction, the director owned 7,477 shares in the company, valued at approximately $643,395.85. This trade represents a 21.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Axcelis Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in shares of Axcelis Technologies by 85.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,807,404 shares of the semiconductor company’s stock worth $145,207,000 after acquiring an additional 835,242 shares in the last quarter. Invesco Ltd. increased its stake in Axcelis Technologies by 176.6% in the 3rd quarter. Invesco Ltd. now owns 386,735 shares of the semiconductor company’s stock valued at $37,761,000 after purchasing an additional 246,939 shares in the last quarter. Millennium Management LLC raised its holdings in Axcelis Technologies by 143.8% during the third quarter. Millennium Management LLC now owns 261,776 shares of the semiconductor company’s stock worth $25,560,000 after purchasing an additional 154,381 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Axcelis Technologies by 27.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 629,814 shares of the semiconductor company’s stock worth $50,599,000 after purchasing an additional 135,039 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Axcelis Technologies during the third quarter worth $11,502,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc is a leading developer and manufacturer of ion implantation and cleaning equipment used in the fabrication of semiconductor chips. The company specializes in high-current, medium-current and high-energy ion implantation systems, which are critical for introducing precisely controlled dopants into silicon wafers. Axcelis also offers plasma-based cleaning and dry strip tools that support advanced process nodes in logic, memory and power device manufacturing.

The company’s product portfolio encompasses single-wafer and multi-wafer cluster tools designed to deliver high throughput, accuracy and uniformity for semiconductor process steps.