Axcelis Technologies Inc. (ACLS) Earns Buy Rating from Needham & Company LLC
Axcelis Technologies Inc. (NASDAQ:ACLS)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report issued on Tuesday. They presently have a $15.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 20.48% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Tuesday, July 5th. B. Riley restated a “buy” rating on shares of Axcelis Technologies in a research report on Tuesday, July 5th. Finally, TheStreet raised Axcelis Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.50.
Axcelis Technologies (NASDAQ:ACLS) traded up 0.48% during trading on Tuesday, hitting $12.51. 16,661 shares of the company’s stock traded hands. Axcelis Technologies has a 52-week low of $7.16 and a 52-week high of $12.80. The company’s 50 day moving average price is $11.85 and its 200 day moving average price is $11.01. The company has a market cap of $364.77 million, a PE ratio of 32.92 and a beta of 1.60.
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Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. Axcelis Technologies had a return on equity of 6.18% and a net margin of 4.19%. The company earned $64.45 million during the quarter, compared to analyst estimates of $66.04 million. During the same quarter last year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was down 17.8% on a year-over-year basis. Analysts expect that Axcelis Technologies will post $0.37 earnings per share for the current year.
In other Axcelis Technologies news, Director Arthur L. George, Jr. purchased 5,000 shares of the stock in a transaction dated Friday, August 5th. The shares were purchased at an average cost of $11.24 per share, with a total value of $56,200.00. Following the completion of the acquisition, the director now directly owns 27,987 shares in the company, valued at approximately $314,573.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William J. Bintz sold 5,751 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $11.98, for a total value of $68,896.98. The disclosure for this sale can be found here. 5.13% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. TFS Capital LLC boosted its stake in shares of Axcelis Technologies by 107.2% in the fourth quarter. TFS Capital LLC now owns 1,533,244 shares of the company’s stock worth $3,971,000 after buying an additional 793,387 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Axcelis Technologies by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 210,391 shares of the company’s stock worth $545,000 after buying an additional 3,745 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Axcelis Technologies by 38.3% in the fourth quarter. Hood River Capital Management LLC now owns 2,041,466 shares of the company’s stock worth $5,287,000 after buying an additional 565,012 shares during the last quarter. Royce & Associates LLC boosted its stake in shares of Axcelis Technologies by 40.6% in the fourth quarter. Royce & Associates LLC now owns 3,899,095 shares of the company’s stock worth $10,099,000 after buying an additional 1,125,400 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Axcelis Technologies by 102.3% in the fourth quarter. Victory Capital Management Inc. now owns 395,378 shares of the company’s stock worth $1,024,000 after buying an additional 199,946 shares during the last quarter.
About Axcelis Technologies
Axcelis Technologies, Inc designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company operates through the manufacture of capital equipment for the semiconductor manufacturing industry segment. The Company sells its equipment to semiconductor chip manufacturers across the world.
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