Axcelis Technologies Receives New Coverage from Analysts at Needham & Company (ACLS)
Equities researchers at Needham & Company assumed coverage on shares of Axcelis Technologies (NASDAQ:ACLS) in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $3.50 price target on the stock. Needham & Company’s price target points to a potential upside of 41.70% from the stock’s previous close. The analysts noted that the move was a valuation call.
Separately, analysts at B. Riley initiated coverage on shares of Axcelis Technologies in a research note to investors on Thursday, December 12th. They set a “buy” rating and a $3.00 price target on the stock.
Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.01. The company had revenue of $48.80 million for the quarter, compared to the consensus estimate of $52.67 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis.
Axcelis Technologies, Inc (NASDAQ:ACLS) designs, manufactures and services ion implantation, dry strip and other processing equipment used in the fabrication of semiconductor chips.
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