Brokers Issue Forecasts for Axcelis Technologies, Inc.’s Q2 2024 Earnings (NASDAQ:ACLS)

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Stock analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Axcelis Technologies in a research report issued to clients and investors on Friday, May 3rd. DA Davidson analyst T. Diffely anticipates that the semiconductor company will earn $1.30 per share for the quarter. The consensus estimate for Axcelis Technologies’ current full-year earnings is $6.63 per share.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.33. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The firm had revenue of $252.37 million during the quarter, compared to the consensus estimate of $242.61 million. During the same period in the prior year, the firm earned $1.43 EPS. The business’s revenue was down .6% on a year-over-year basis.

Several other equities research analysts have also weighed in on the company. B. Riley lowered their price objective on Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday. Craig Hallum upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Friday. Benchmark reduced their target price on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Friday. Finally, B. Riley Financial cut their price target on shares of Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.00.

Axcelis Technologies Stock Performance

ACLS opened at $111.45 on Monday. The stock has a market cap of $3.63 billion, a PE ratio of 14.72, a P/E/G ratio of 1.20 and a beta of 1.64. Axcelis Technologies has a 1 year low of $93.77 and a 1 year high of $201.00. The stock’s 50 day simple moving average is $107.79 and its 200-day simple moving average is $120.99. The company has a current ratio of 4.00, a quick ratio of 2.71 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACLS. Raymond James & Associates lifted its holdings in shares of Axcelis Technologies by 7.8% in the third quarter. Raymond James & Associates now owns 18,393 shares of the semiconductor company’s stock valued at $2,999,000 after purchasing an additional 1,331 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Axcelis Technologies by 22.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,751 shares of the semiconductor company’s stock worth $612,000 after acquiring an additional 700 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Axcelis Technologies by 29.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,780 shares of the semiconductor company’s stock worth $1,105,000 after acquiring an additional 1,556 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Axcelis Technologies by 23.3% in the third quarter. New York State Teachers Retirement System now owns 23,678 shares of the semiconductor company’s stock valued at $3,861,000 after purchasing an additional 4,472 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Axcelis Technologies by 3.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,018 shares of the semiconductor company’s stock worth $1,796,000 after purchasing an additional 392 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.

Insider Activity

In other news, EVP Douglas A. Lawson bought 500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $111.04 per share, for a total transaction of $55,520.00. Following the completion of the acquisition, the executive vice president now owns 19,648 shares in the company, valued at approximately $2,181,713.92. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.43% of the stock is currently owned by company insiders.

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.