Axcelis Technologies, Inc. (NASDAQ:ACLS) had its price target lifted by equities researchers at B. Riley from $30.00 to $39.00 in a report released on Friday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target indicates a potential upside of 22.07% from the company’s previous close.

A number of other research firms also recently commented on ACLS. Zacks Investment Research upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday. Stifel Nicolaus increased their price target on Axcelis Technologies from $20.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday. ValuEngine lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Benchmark Co. reiterated a “buy” rating and issued a $28.00 target price (up previously from $24.00) on shares of Axcelis Technologies in a research note on Friday, September 8th. Finally, BidaskClub lowered Axcelis Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.33.

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

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In related news, EVP William J. Bintz sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $22.57, for a total transaction of $282,125.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Douglas A. Lawson sold 14,454 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $21.12, for a total value of $305,268.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,641 shares of company stock worth $2,347,514. 5.66% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Axcelis Technologies by 391.3% in the second quarter. Royal Bank of Canada now owns 4,913 shares of the semiconductor company’s stock worth $103,000 after acquiring an additional 3,913 shares in the last quarter. Creative Planning boosted its holdings in Axcelis Technologies by 22,400.0% in the second quarter. Creative Planning now owns 5,625 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 5,600 shares in the last quarter. J.P. Marvel Investment Advisors LLC acquired a new stake in Axcelis Technologies in the second quarter worth about $220,000. Voya Investment Management LLC acquired a new stake in Axcelis Technologies in the second quarter worth about $271,000. Finally, American International Group Inc. boosted its holdings in Axcelis Technologies by 7.1% in the first quarter. American International Group Inc. now owns 17,943 shares of the semiconductor company’s stock worth $337,000 after acquiring an additional 1,184 shares in the last quarter. 74.68% of the stock is currently owned by institutional investors.

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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