B. Riley Reaffirms “Buy” Rating for Axcelis Technologies Inc. (ACLS)
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 Monday.
A number of other analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Axcelis Technologies in a report on Tuesday, September 20th. TheStreet raised Axcelis Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Finally, Zacks Investment Research raised Axcelis Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Axcelis Technologies presently has a consensus rating of “Buy” and an average target price of $8.50.
Axcelis Technologies (NASDAQ:ACLS) traded down 1.36% during mid-day trading on Monday, reaching $13.76. The company had a trading volume of 67,039 shares. The firm’s 50 day moving average price is $12.57 and its 200-day moving average price is $11.24. The company has a market capitalization of $401.21 million, a price-to-earnings ratio of 36.21 and a beta of 1.56. Axcelis Technologies has a 12 month low of $7.16 and a 12 month high of $14.14.
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Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The company earned $64.45 million during the quarter, compared to the consensus estimate of $66.04 million. Axcelis Technologies had a return on equity of 6.18% and a net margin of 4.19%. Axcelis Technologies’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. Equities research analysts anticipate that Axcelis Technologies will post $0.37 earnings per share for the current year.
In other news, Director Arthur L. George, Jr. bought 5,000 shares of Axcelis Technologies stock in a transaction dated Friday, August 5th. The stock was acquired at an average cost of $11.24 per share, with a total value of $56,200.00. Following the acquisition, the director now owns 27,987 shares of the company’s stock, valued at $314,573.88. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William J. Bintz sold 5,751 shares of the business’s stock in a transaction dated 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 insiders.
Several hedge funds have recently bought and sold shares of ACLS. Highbridge Capital Management LLC bought a new position in shares of Axcelis Technologies during the second quarter valued at about $230,000. Schneider Capital Management Corp boosted its position in shares of Axcelis Technologies by 6.5% in the second quarter. Schneider Capital Management Corp now owns 2,009,963 shares of the company’s stock valued at $5,407,000 after buying an additional 122,848 shares during the period. Guggenheim Capital LLC boosted its position in shares of Axcelis Technologies by 0.7% in the second quarter. Guggenheim Capital LLC now owns 47,145 shares of the company’s stock valued at $127,000 after buying an additional 306 shares during the period. SG Capital Management LLC boosted its position in shares of Axcelis Technologies by 22.2% in the second quarter. SG Capital Management LLC now owns 3,452,779 shares of the company’s stock valued at $9,288,000 after buying an additional 626,981 shares during the period. Finally, State Street Corp boosted its position in shares of Axcelis Technologies by 0.8% in the second quarter. State Street Corp now owns 1,797,277 shares of the company’s stock valued at $4,834,000 after buying an additional 13,551 shares during the period.
Axcelis Technologies Company Profile
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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