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Stifel Nicolaus assumed coverage on shares of Axcelis Technologies (NASDAQ:ACLS) in a research note issued on Tuesday, reports. The firm set a “buy” rating on the stock.

Axcelis Technologies (NASDAQ:ACLS) remained flat at $1.91 during during mid-day trading trading on Tuesday. The stock had a trading volume of 317,125 shares. Axcelis Technologies has a 1-year low of $1.50 and a 1-year high of $2.58. The stock has a 50-day moving average of $1.78 and a 200-day moving average of $1.94. The company’s market cap is $213.1 million.

Axcelis Technologies (NASDAQ:ACLS) last announced its earnings results on Monday, August 4th. The company reported ($0.06) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.06). The company had revenue of $41.20 million for the quarter, compared to the consensus estimate of $40.75 million. During the same quarter last year, the company posted ($0.04) earnings per share. Axcelis Technologies’s revenue was down 13.4% compared to the same quarter last year. On average, analysts predict that Axcelis Technologies will post $-0.13 earnings per share for the current fiscal year.

Separately, analysts at Zacks downgraded shares of Axcelis Technologies from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 5th. They now have a $1.60 price target on the stock.

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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