Axcelis Technologies’ (ACLS) Buy Rating Reiterated at B. Riley
Axcelis Technologies Inc. (NASDAQ:ACLS)‘s stock had its “buy” rating reaffirmed by B. Riley in a research report issued to clients and investors on Saturday.
ACLS has been the subject of several other research reports. Zacks Investment Research raised Axcelis Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Axcelis Technologies in a research note on Tuesday, September 20th. 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 issued a buy rating to the stock. Axcelis Technologies currently has an average rating of “Buy” and a consensus target price of $8.50.
Axcelis Technologies (NASDAQ:ACLS) opened at 13.61 on Friday. The firm’s 50-day moving average price is $12.68 and its 200 day moving average price is $11.29. Axcelis Technologies has a 1-year low of $7.16 and a 1-year high of $14.14. The firm has a market capitalization of $396.84 million, a price-to-earnings ratio of 35.82 and a beta of 1.56.
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Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Tuesday, August 2nd. The company reported $0.10 EPS 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 business earned $64.45 million during the quarter, compared to analysts’ expectations of $66.04 million. During the same quarter last year, the firm posted $0.05 earnings per share. The firm’s revenue was down 17.8% on a year-over-year basis. On average, analysts predict that Axcelis Technologies will post $0.37 EPS for the current year.
In related news, Director Arthur L. George, Jr. bought 5,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were bought at an average price of $11.24 per share, for a total transaction of $56,200.00. Following the completion of the acquisition, the director now directly owns 27,987 shares of the company’s stock, valued at $314,573.88. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William J. Bintz sold 5,751 shares of the firm’s stock in a transaction that occurred 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 company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its position in Axcelis Technologies by 10.5% in the second quarter. Alliancebernstein L.P. now owns 38,800 shares of the company’s stock worth $104,000 after buying an additional 3,700 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Axcelis Technologies by 276.5% in the first quarter. Goldman Sachs Group Inc. now owns 41,408 shares of the company’s stock worth $116,000 after buying an additional 30,410 shares in the last quarter. Guggenheim Capital LLC raised its position in Axcelis Technologies by 0.7% in the second quarter. Guggenheim Capital LLC now owns 47,145 shares of the company’s stock worth $127,000 after buying an additional 306 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Axcelis Technologies during the second quarter worth $230,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Axcelis Technologies by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 83,766 shares of the company’s stock worth $235,000 after buying an additional 461 shares in 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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