Axcelis Technologies (ACLS) Stock Rating Lowered by Zacks Investment Research

Axcelis Technologies (NASDAQ:ACLS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday.

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. “

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC lowered their price objective on shares of Axcelis Technologies from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday. B. Riley lowered their price objective on shares of Axcelis Technologies from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. ValuEngine upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, January 22nd. Finally, Benchmark reiterated 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. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.50.

Shares of Axcelis Technologies (NASDAQ ACLS) traded up $0.60 during trading on Friday, hitting $23.05. 783,231 shares of the stock were exchanged, compared to its average volume of 557,638. Axcelis Technologies has a 12 month low of $14.60 and a 12 month high of $37.05. The company has a market cap of $719.71, a P/E ratio of 6.15, a PEG ratio of 0.66 and a beta of 1.01.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. The business had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $109.76 million. Axcelis Technologies had a net margin of 30.92% and a return on equity of 18.64%. The firm’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. equities research analysts forecast that Axcelis Technologies will post 1.81 EPS for the current year.

In other Axcelis Technologies news, CFO Kevin J. Brewer sold 44,640 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Kurtzweil sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $34.03, for a total transaction of $61,254.00. The disclosure for this sale can be found here. Corporate insiders own 5.66% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Axcelis Technologies by 97.1% in the 4th quarter. BlackRock Inc. now owns 3,914,998 shares of the semiconductor company’s stock valued at $112,361,000 after acquiring an additional 1,928,927 shares during the period. Bank of New York Mellon Corp increased its position in Axcelis Technologies by 138.9% in the 4th quarter. Bank of New York Mellon Corp now owns 414,222 shares of the semiconductor company’s stock valued at $11,888,000 after acquiring an additional 240,807 shares during the period. Rhumbline Advisers increased its position in Axcelis Technologies by 100.3% in the 4th quarter. Rhumbline Advisers now owns 70,684 shares of the semiconductor company’s stock valued at $2,029,000 after acquiring an additional 35,390 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Axcelis Technologies in the 4th quarter valued at approximately $3,727,000. Finally, Arizona State Retirement System acquired a new position in Axcelis Technologies in the 4th quarter valued at approximately $1,515,000. Hedge funds and other institutional investors own 77.46% of the company’s stock.

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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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