Axcelis Technologies, Inc. (NASDAQ:ACLS)‘s stock had its “buy” rating reiterated by research analysts at Benchmark Co. in a research report issued on Friday, Marketbeat reports. They presently have a $28.00 target price on the semiconductor company’s stock, up from their prior target price of $24.00. Benchmark Co.’s price target indicates a potential upside of 30.23% from the stock’s previous close.

ACLS has been the subject of several other reports. ValuEngine raised Axcelis Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Stifel Nicolaus reduced their price target on Axcelis Technologies from $19.00 to $16.00 and set a “hold” rating for the company in a report on Monday, May 15th. Zacks Investment Research raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday, July 14th. BidaskClub cut Axcelis Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Wedbush raised their price target on Axcelis Technologies from $23.00 to $27.00 in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $25.33.

Shares of Axcelis Technologies (NASDAQ:ACLS) opened at 21.50 on Friday. Axcelis Technologies has a 52-week low of $11.05 and a 52-week high of $26.52. The stock has a 50 day moving average price of $21.12 and a 200-day moving average price of $20.15. The stock has a market capitalization of $671.29 million, a PE ratio of 23.07 and a beta of 1.08.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by $0.01. The business had revenue of $102.80 million during the quarter, compared to analyst estimates of $100.07 million. Axcelis Technologies had a net margin of 9.10% and a return on equity of 12.52%. The firm’s quarterly revenue was up 59.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. On average, equities research analysts anticipate that Axcelis Technologies will post $1.25 EPS for the current fiscal year.

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In related news, EVP Douglas A. Lawson sold 14,454 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $21.12, for a total value of $305,268.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin J. Brewer sold 17,339 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $20.75, for a total value of $359,784.25. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in Axcelis Technologies by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,397 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 660 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Axcelis Technologies by 1.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 79,807 shares of the semiconductor company’s stock valued at $1,672,000 after purchasing an additional 1,147 shares in the last quarter. American International Group Inc. increased its stake in Axcelis Technologies by 7.1% in the 1st quarter. American International Group Inc. now owns 17,943 shares of the semiconductor company’s stock valued at $337,000 after purchasing an additional 1,184 shares in the last quarter. New York State Common Retirement Fund increased its stake in Axcelis Technologies by 4.7% in the 2nd quarter. New York State Common Retirement Fund now owns 30,975 shares of the semiconductor company’s stock valued at $649,000 after purchasing an additional 1,399 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Axcelis Technologies by 5.2% in the 2nd quarter. Wells Fargo & Company MN now owns 28,572 shares of the semiconductor company’s stock valued at $599,000 after purchasing an additional 1,416 shares in the last quarter. 75.85% of the stock is owned by hedge funds and other institutional investors.

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 also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.

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