Axcelis Technologies (NASDAQ:ACLS) Raised to “Buy” at Wall Street Zen

Axcelis Technologies (NASDAQ:ACLS) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other brokerages have also recently issued reports on ACLS. Weiss Ratings reissued a “hold (c-)” rating on shares of Axcelis Technologies in a research report on Monday, December 8th. B. Riley cut their price objective on shares of Axcelis Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Benchmark upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Thursday, October 2nd. Zacks Research lowered Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, DA Davidson raised their target price on shares of Axcelis Technologies from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.80.

Axcelis Technologies Stock Performance

ACLS stock opened at $85.61 on Friday. Axcelis Technologies has a one year low of $40.40 and a one year high of $102.93. The firm has a 50-day simple moving average of $83.34 and a two-hundred day simple moving average of $79.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.32 and a current ratio of 4.95. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 20.24 and a beta of 1.73.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Monday, April 21st. The semiconductor company reported $1.71 earnings per share (EPS) for the quarter. Axcelis Technologies had a return on equity of 14.58% and a net margin of 15.93%.The company had revenue of $252.42 million during the quarter. On average, equities analysts forecast that Axcelis Technologies will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling at Axcelis Technologies

In other Axcelis Technologies news, EVP Gerald M. Blumenstock sold 3,034 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $89.46, for a total transaction of $271,421.64. Following the completion of the sale, the executive vice president directly owned 18,661 shares in the company, valued at approximately $1,669,413.06. This trade represents a 13.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in shares of Axcelis Technologies in the third quarter valued at $25,000. Close Asset Management Ltd acquired a new stake in shares of Axcelis Technologies in the 3rd quarter valued at about $27,000. Advisory Services Network LLC bought a new stake in Axcelis Technologies during the 3rd quarter worth about $32,000. Caitlin John LLC acquired a new stake in Axcelis Technologies in the third quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Axcelis Technologies by 145.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 451 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

About Axcelis Technologies

Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.