Axcelis Technologies (NASDAQ:ACLS – Get Rating) had its price target lifted by research analysts at B. Riley from $87.00 to $98.00 in a report issued on Wednesday, The Fly reports. B. Riley’s price objective would suggest a potential upside of 20.76% from the stock’s previous close.
A number of other research firms have also weighed in on ACLS. Needham & Company LLC boosted their price target on shares of Axcelis Technologies from $64.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, December 10th. The analyst cites the company’s investor day presentation that featured an update on its business and introduced two new target models, raising its near-term revenue guidance outlook to $850. Bolton adds that the strong growth in the implant-intensive mature market segment and overall WFE growth have increased the ion implant total addressable market to about $2B. StockNews.com lowered shares of Axcelis Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 16th. Finally, Craig Hallum boosted their target price on shares of Axcelis Technologies from $68.00 to $80.00 and gave the company a “buy” rating in a report on Friday, December 10th. The company introduced two new target business models at its analyst day for ~$850M and $1B in annual revenue, which are targeted to drive EPS of ~$4.25 and ~$5.60 respectively, Schwab tells investors in a research note. Schwab remains very encouraged by the company’s newly outlined target models for multiyear growth and material earnings leverage to targeted EPS levels more than double 2021 expectations at the company’s $1B target model. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Axcelis Technologies has a consensus rating of “Buy” and an average price target of $77.80.
ACLS opened at $81.15 on Wednesday. The firm has a market capitalization of $2.70 billion, a PE ratio of 28.08 and a beta of 1.53. Axcelis Technologies has a twelve month low of $33.36 and a twelve month high of $83.74. The firm’s 50-day moving average price is $67.88 and its 200 day moving average price is $62.29. The company has a current ratio of 4.12, a quick ratio of 2.83 and a debt-to-equity ratio of 0.09.
Axcelis Technologies (NASDAQ:ACLS – Get Rating) last posted its quarterly earnings results on Monday, February 7th. The semiconductor company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.21. The firm had revenue of $205.68 million for the quarter, compared to analyst estimates of $190.04 million. Axcelis Technologies had a net margin of 14.89% and a return on equity of 19.42%. Axcelis Technologies’s quarterly revenue was up 68.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, analysts predict that Axcelis Technologies will post 3.99 earnings per share for the current fiscal year.
In other news, Director Dennis Thomas St sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $72.81, for a total value of $218,430.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mary G. Puma sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $69.23, for a total transaction of $761,530.00. The disclosure for this sale can be found here. Insiders sold a total of 25,636 shares of company stock worth $1,799,316 over the last quarter. 2.11% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Axcelis Technologies by 1.0% during the 4th quarter. BlackRock Inc. now owns 5,011,615 shares of the semiconductor company’s stock worth $373,667,000 after buying an additional 48,022 shares during the period. Senvest Management LLC increased its position in shares of Axcelis Technologies by 8.2% in the 3rd quarter. Senvest Management LLC now owns 1,890,555 shares of the semiconductor company’s stock valued at $88,913,000 after purchasing an additional 143,034 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Axcelis Technologies by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,609,109 shares of the semiconductor company’s stock valued at $75,676,000 after purchasing an additional 6,176 shares during the last quarter. Invesco Ltd. increased its position in shares of Axcelis Technologies by 18.0% in the 4th quarter. Invesco Ltd. now owns 727,226 shares of the semiconductor company’s stock valued at $54,222,000 after purchasing an additional 110,764 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Axcelis Technologies by 3.4% in the 3rd quarter. Goldman Sachs Group Inc. now owns 690,530 shares of the semiconductor company’s stock valued at $32,476,000 after purchasing an additional 22,424 shares during the last quarter. 83.76% of the stock is currently owned by hedge funds and other institutional investors.
About Axcelis Technologies
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. The company offers high energy, high current, and medium current implanters for various application requirements.