B. Riley Comments on Axcelis Technologies Inc’s Q1 2018 Earnings (ACLS)

Axcelis Technologies Inc (NASDAQ:ACLS) – Research analysts at B. Riley lowered their Q1 2018 earnings per share estimates for shares of Axcelis Technologies in a research report issued to clients and investors on Wednesday. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings per share of $0.35 for the quarter, down from their prior estimate of $0.42. B. Riley has a “Buy” rating and a $35.00 price objective on the stock. B. Riley also issued estimates for Axcelis Technologies’ Q2 2018 earnings at $0.36 EPS.

Other analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective (down from $36.00) on shares of Axcelis Technologies in a research report on Wednesday. Zacks Investment Research raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, November 2nd. Benchmark reaffirmed a “buy” rating and set a $33.00 price objective (down from $36.00) on shares of Axcelis Technologies in a research report on Thursday, January 18th. ValuEngine raised Axcelis Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus increased their price objective on Axcelis Technologies from $20.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $32.50.

Axcelis Technologies (ACLS) traded down $0.70 during trading on Thursday, reaching $23.20. The company’s stock had a trading volume of 52,863 shares, compared to its average volume of 544,439. Axcelis Technologies has a 52 week low of $14.60 and a 52 week high of $37.05. The firm has a market cap of $730.64, a PE ratio of 6.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.01.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. Axcelis Technologies had a return on equity of 20.95% and a net margin of 30.92%. The company had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $109.76 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 67.7% on a year-over-year basis.

In other news, Director John T. Kurtzweil sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $34.03, for a total value of $61,254.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin J. Brewer sold 44,640 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $33.93, for a total value of $1,514,635.20. The disclosure for this sale can be found here. 5.66% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACLS. Schwab Charles Investment Management Inc. increased its stake in Axcelis Technologies by 31.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 62,100 shares of the semiconductor company’s stock valued at $1,301,000 after purchasing an additional 15,000 shares in the last quarter. Swiss National Bank purchased a new position in Axcelis Technologies in the 2nd quarter valued at approximately $1,029,000. Wells Fargo & Company MN increased its position in Axcelis Technologies by 5.2% during the second quarter. Wells Fargo & Company MN now owns 28,572 shares of the semiconductor company’s stock worth $599,000 after buying an additional 1,416 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Axcelis Technologies during the second quarter worth $735,000. Finally, Teachers Advisors LLC increased its position in Axcelis Technologies by 11.7% during the second quarter. Teachers Advisors LLC now owns 53,867 shares of the semiconductor company’s stock worth $1,129,000 after buying an additional 5,633 shares in the last quarter. 77.46% of the stock is owned by hedge funds and other institutional investors.

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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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