Axcelis Technologies, Inc. (NASDAQ:ACLS) Forecasted to Post Q2 2024 Earnings of $1.31 Per Share

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Stock analysts at William Blair reduced their Q2 2024 EPS estimates for Axcelis Technologies in a research note issued on Tuesday, May 7th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will post earnings per share of $1.31 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 released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.33. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The business had revenue of $252.37 million for the quarter, compared to the consensus estimate of $242.61 million. During the same quarter in the previous year, the company posted $1.43 EPS. The company’s revenue was down .6% compared to the same quarter last year.

Other analysts have also recently issued reports about the stock. B. Riley decreased their target price on shares of Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. B. Riley Financial dropped their target price on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 9th. 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 report on Friday, May 3rd. Finally, Benchmark cut their price objective on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $169.00.

Axcelis Technologies Price Performance

Axcelis Technologies stock opened at $111.27 on Wednesday. Axcelis Technologies has a 52-week low of $93.77 and a 52-week high of $201.00. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.24 and a beta of 1.64. The firm’s fifty day moving average is $107.88 and its 200 day moving average is $120.53. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ACLS. Lincoln National Corp raised its position in shares of Axcelis Technologies by 2.1% in the 4th quarter. Lincoln National Corp now owns 4,319 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 88 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Axcelis Technologies by 1.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,839 shares of the semiconductor company’s stock valued at $1,276,000 after purchasing an additional 102 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Axcelis Technologies by 1.3% in the third quarter. Arizona State Retirement System now owns 9,313 shares of the semiconductor company’s stock worth $1,518,000 after buying an additional 121 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Axcelis Technologies by 10.4% during the third quarter. Sequoia Financial Advisors LLC now owns 1,316 shares of the semiconductor company’s stock worth $215,000 after buying an additional 124 shares during the period. Finally, Intrust Bank NA grew its holdings in shares of Axcelis Technologies by 3.2% during the fourth quarter. Intrust Bank NA now owns 4,477 shares of the semiconductor company’s stock valued at $581,000 after buying an additional 137 shares during the last quarter. Institutional investors own 89.98% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Douglas A. Lawson bought 500 shares of the stock in a transaction dated Friday, February 23rd. The stock was purchased at an average cost of $111.04 per share, with a total value of $55,520.00. Following the completion of the purchase, the executive vice president now owns 19,648 shares of the company’s stock, valued at $2,181,713.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.14% 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.