Axcelis Technologies (ACLS) Lowered to “Hold” at Craig Hallum

Axcelis Technologies (NASDAQ:ACLS) was downgraded by research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.

ACLS has been the topic of a number of other reports. ValuEngine upgraded Axcelis Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. B. Riley cut Axcelis Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $34.00 to $20.00 in a research report on Monday, October 29th. Zacks Investment Research cut Axcelis Technologies from a “hold” rating to a “sell” rating in a research report on Monday, November 5th. BidaskClub cut Axcelis Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Finally, Benchmark cut Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $27.80.

Shares of ACLS opened at $22.32 on Friday. The stock has a market cap of $722.14 million, a price-to-earnings ratio of 17.04 and a beta of 1.13. Axcelis Technologies has a fifty-two week low of $15.46 and a fifty-two week high of $28.35.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $105.68 million for the quarter, compared to the consensus estimate of $99.83 million. Axcelis Technologies had a return on equity of 11.56% and a net margin of 10.37%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. Equities analysts anticipate that Axcelis Technologies will post 1.22 earnings per share for the current fiscal year.

Axcelis Technologies announced that its board has initiated a stock buyback program on Monday, January 14th that permits the company to repurchase $35.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In related news, Director John T. Kurtzweil sold 2,500 shares of Axcelis Technologies stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $17.61, for a total value of $44,025.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.31% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Hood River Capital Management LLC boosted its holdings in Axcelis Technologies by 38.3% in the 4th quarter. Hood River Capital Management LLC now owns 2,041,466 shares of the semiconductor company’s stock worth $5,287,000 after buying an additional 565,012 shares during the last quarter. Peregrine Capital Management LLC boosted its holdings in Axcelis Technologies by 405.6% in the 2nd quarter. Peregrine Capital Management LLC now owns 572,856 shares of the semiconductor company’s stock worth $12,001,000 after buying an additional 459,560 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Axcelis Technologies by 7.1% in the 1st quarter. Guggenheim Capital LLC now owns 145,475 shares of the semiconductor company’s stock worth $3,579,000 after buying an additional 9,620 shares during the last quarter. Royce & Associates LLC boosted its holdings in Axcelis Technologies by 40.6% in the 4th quarter. Royce & Associates LLC now owns 3,899,095 shares of the semiconductor company’s stock worth $10,099,000 after buying an additional 1,125,400 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Axcelis Technologies by 247.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 161,665 shares of the semiconductor company’s stock worth $3,386,000 after buying an additional 115,111 shares during the last quarter. Institutional investors own 81.99% 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 worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.

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