Axcelis Technologies (NASDAQ:ACLS) Price Target Cut to $155.00

Axcelis Technologies (NASDAQ:ACLS) had its price objective dropped by stock analysts at B. Riley from $165.00 to $155.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target would suggest a potential upside of 39.08% from the company’s current price. 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.

ACLS has been the subject of several other reports. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a report on Friday. B. Riley Financial lowered their target price on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Finally, Craig Hallum raised 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.00.

Axcelis Technologies Trading Up 4.5 %

Shares of ACLS stock opened at $111.45 on Friday. The company has a quick ratio of 2.71, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.63 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.14 and a beta of 1.64. The business has a 50-day moving average price of $107.79 and a two-hundred day moving average price of $121.24. Axcelis Technologies has a 12-month low of $93.77 and a 12-month high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.24 by $0.33. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The firm 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 business earned $1.43 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts anticipate that Axcelis Technologies will post 6.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Douglas A. Lawson purchased 500 shares of the stock in a transaction dated Friday, February 23rd. The stock was purchased 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 in the company, valued at $2,181,713.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Axcelis Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of Axcelis Technologies in the 3rd quarter worth $71,000. Dakota Wealth Management bought a new stake in shares of Axcelis Technologies in the third quarter worth approximately $454,000. Raymond James & Associates raised its holdings in shares of Axcelis Technologies by 7.8% during 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. lifted its position in Axcelis Technologies by 22.9% during 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 period. Finally, Stratos Wealth Partners LTD. grew its position in Axcelis Technologies by 29.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,780 shares of the semiconductor company’s stock worth $1,105,000 after purchasing an additional 1,556 shares during the period. Institutional investors 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.