Axcelis Technologies (NASDAQ:ACLS) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Axcelis Technologies (NASDAQ:ACLS) issued its quarterly earnings results on Wednesday. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.33, Briefing.com reports. The business had revenue of $252.37 million for the quarter, compared to analyst estimates of $242.61 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 31.14%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. Axcelis Technologies updated its Q2 guidance to $1.30 EPS and its Q2 2024 guidance to 1.300-1.300 EPS.

Axcelis Technologies Trading Up 4.5 %

NASDAQ:ACLS opened at $111.45 on Friday. Axcelis Technologies has a 52-week low of $93.77 and a 52-week high of $201.00. The company has a quick ratio of 2.71, a current ratio of 3.79 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $107.79 and a 200-day simple moving average of $121.52. The company has a market capitalization of $3.63 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.09 and a beta of 1.64.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, EVP Douglas A. Lawson bought 500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was bought at an average price of $111.04 per share, for a total transaction of $55,520.00. Following the completion of the transaction, the executive vice president now owns 19,648 shares in the company, valued at approximately $2,181,713.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. B. Riley dropped their target price on Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday. Craig Hallum raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Friday. B. Riley Financial reduced 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. Benchmark lowered their price target on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a report on Friday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.00.

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.