Q2 2024 EPS Estimates for Axcelis Technologies, Inc. (NASDAQ:ACLS) Decreased by Analyst

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Equities researchers at B. Riley cut their Q2 2024 earnings estimates for Axcelis Technologies in a report released on Thursday, May 2nd. B. Riley analyst C. Ellis now expects that the semiconductor company will earn $1.30 per share for the quarter, down from their previous forecast of $1.44. B. Riley has a “Buy” rating and a $155.00 price objective on the stock. The consensus estimate for Axcelis Technologies’ current full-year earnings is $6.63 per share. B. Riley also issued estimates for Axcelis Technologies’ FY2024 earnings at $6.68 EPS and Q4 2025 earnings at $2.07 EPS.

ACLS has been the topic of a number of other research reports. Benchmark decreased their price objective on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a research report on Friday. Craig Hallum upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Friday. Finally, B. Riley Financial reduced their target price on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Axcelis Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $169.00.

Axcelis Technologies Stock Up 4.5 %

Shares of NASDAQ ACLS opened at $111.45 on Monday. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.20 and a beta of 1.64. The company has a quick ratio of 2.71, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $107.79 and its 200 day moving average is $120.99. Axcelis Technologies has a 52 week low of $93.77 and a 52 week high of $201.00.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Axcelis Technologies by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 4,040,912 shares of the semiconductor company’s stock valued at $524,066,000 after buying an additional 92,584 shares during the last quarter. Invesco Ltd. lifted its position in Axcelis Technologies by 17.1% in the 3rd quarter. Invesco Ltd. now owns 970,409 shares of the semiconductor company’s stock valued at $158,225,000 after acquiring an additional 141,372 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Axcelis Technologies by 11.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 447,869 shares of the semiconductor company’s stock valued at $73,036,000 after purchasing an additional 47,133 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Axcelis Technologies by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 442,586 shares of the semiconductor company’s stock worth $57,399,000 after purchasing an additional 3,999 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Axcelis Technologies in the fourth quarter worth $57,105,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Douglas A. Lawson acquired 500 shares of the stock in a transaction on Friday, February 23rd. The stock was acquired at an average price of $111.04 per share, for a total transaction of $55,520.00. Following the completion of the purchase, the executive vice president now owns 19,648 shares of the company’s stock, valued at $2,181,713.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.43% 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 in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.