Axcelis Technologies, Inc. (NASDAQ:ACLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $26.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.59% from the stock’s current price.

According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “

A number of other analysts have also issued reports on ACLS. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price (up previously from $23.00) on shares of Axcelis Technologies in a research report on Friday, June 16th. Wedbush boosted their target price on Axcelis Technologies from $23.00 to $27.00 in a research report on Friday, June 16th. B. Riley reissued a “buy” rating and issued a $30.00 target price on shares of Axcelis Technologies in a research report on Friday, August 4th. BidaskClub lowered Axcelis Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, ValuEngine raised Axcelis Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Axcelis Technologies currently has a consensus rating of “Buy” and a consensus target price of $25.67.

Shares of Axcelis Technologies (NASDAQ:ACLS) traded up 0.21% during midday trading on Friday, hitting $23.35. The stock had a trading volume of 373,735 shares. The firm’s 50 day moving average price is $21.08 and its 200 day moving average price is $20.34. Axcelis Technologies has a 52-week low of $11.05 and a 52-week high of $26.53. The firm has a market cap of $729.06 million, a price-to-earnings ratio of 25.05 and a beta of 1.08.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Axcelis Technologies had a net margin of 9.10% and a return on equity of 12.52%. The business had revenue of $102.80 million during the quarter, compared to analyst estimates of $100.07 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s revenue was up 59.4% on a year-over-year basis. On average, equities research analysts expect that Axcelis Technologies will post $1.26 earnings per share for the current year.

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In other Axcelis Technologies news, EVP Douglas A. Lawson sold 14,454 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were 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 is accessible through this link. Also, CFO Kevin J. Brewer sold 62,348 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $22.46, for a total transaction of $1,400,336.08. The disclosure for this sale can be found here. Insiders have sold 106,641 shares of company stock worth $2,347,514 in the last ninety days. Corporate insiders own 5.66% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC boosted its stake in Axcelis Technologies by 38.3% in the fourth quarter. Hood River Capital Management LLC now owns 2,041,466 shares of the semiconductor company’s stock valued at $5,287,000 after acquiring an additional 565,012 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in Axcelis Technologies by 405.6% in the second quarter. Peregrine Capital Management LLC now owns 572,856 shares of the semiconductor company’s stock valued at $12,001,000 after acquiring an additional 459,560 shares in the last quarter. Royce & Associates LLC boosted its stake in Axcelis Technologies by 40.6% in the fourth quarter. Royce & Associates LLC now owns 3,899,095 shares of the semiconductor company’s stock valued at $10,099,000 after acquiring an additional 1,125,400 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Axcelis Technologies by 247.3% in the second quarter. Russell Investments Group Ltd. now owns 161,665 shares of the semiconductor company’s stock valued at $3,386,000 after acquiring an additional 115,111 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Axcelis Technologies by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 210,391 shares of the semiconductor company’s stock valued at $545,000 after acquiring an additional 3,745 shares in the last quarter. Institutional investors own 75.85% of the company’s stock.

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

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