Axcelis Technologies Inc (NASDAQ:ACLS) has received an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $27.38.
Several equities analysts have issued reports on the company. BidaskClub lowered Axcelis Technologies from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Zacks Investment Research raised Axcelis Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, February 11th. Craig Hallum lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Benchmark raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $26.50 price objective on the stock in a report on Friday, February 8th. Finally, B. Riley raised Axcelis Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $28.00 in a report on Monday, January 28th.
In related news, EVP Douglas A. Lawson sold 13,672 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $22.51, for a total transaction of $307,756.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R John Fletcher sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.26, for a total value of $455,850.00. Following the transaction, the director now directly owns 58,372 shares in the company, valued at approximately $1,182,616.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,172 shares of company stock worth $875,757. Corporate insiders own 3.31% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaOne Investment Services LLC purchased a new position in shares of Axcelis Technologies during the fourth quarter worth about $33,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of Axcelis Technologies by 362.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,363 shares of the semiconductor company’s stock worth $184,000 after buying an additional 8,121 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Axcelis Technologies during the fourth quarter worth about $219,000. Victory Capital Management Inc. grew its holdings in shares of Axcelis Technologies by 120.2% during the third quarter. Victory Capital Management Inc. now owns 16,591 shares of the semiconductor company’s stock worth $326,000 after buying an additional 9,055 shares during the last quarter. Finally, Texas Permanent School Fund grew its holdings in shares of Axcelis Technologies by 4.2% during the fourth quarter. Texas Permanent School Fund now owns 21,210 shares of the semiconductor company’s stock worth $378,000 after buying an additional 851 shares during the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ACLS stock opened at $20.67 on Friday. The stock has a market cap of $674.14 million, a price-to-earnings ratio of 15.72 and a beta of 1.20. Axcelis Technologies has a 1 year low of $15.46 and a 1 year high of $28.35.
Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings data on Wednesday, February 6th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $105.68 million for the quarter, compared to analyst estimates of $99.83 million. Axcelis Technologies had a return on equity of 11.39% and a net margin of 10.37%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. As a group, sell-side analysts forecast that Axcelis Technologies will post 0.83 EPS for the current year.
Axcelis Technologies declared that its board has initiated a share buyback program on Monday, January 14th that authorizes the company to buyback $35.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Axcelis Technologies Company Profile
Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.
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