William Blair Weighs in on Axcelis Technologies, Inc.’s Q2 2024 Earnings (NASDAQ:ACLS)

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Investment analysts at William Blair decreased their Q2 2024 earnings per share estimates for shares of Axcelis Technologies in a research note issued to investors on Tuesday, May 7th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will earn $1.31 per share for the quarter, down from their previous estimate of $1.43. The consensus estimate for Axcelis Technologies’ current full-year earnings is $6.63 per share. William Blair also issued estimates for Axcelis Technologies’ Q3 2024 earnings at $1.52 EPS, Q4 2024 earnings at $1.86 EPS, FY2024 earnings at $6.26 EPS, Q3 2025 earnings at $2.15 EPS and Q4 2025 earnings at $2.46 EPS.

ACLS has been the subject of several other reports. B. Riley Financial lowered their target price on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 9th. B. Riley lowered their target price on Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. Benchmark reduced their price target 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, May 3rd. Finally, Craig Hallum raised shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $169.00.

Axcelis Technologies Stock Up 0.2 %

Shares of Axcelis Technologies stock opened at $111.46 on Wednesday. The business has a 50-day moving average of $107.89 and a 200-day moving average of $120.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.87. The company has a market capitalization of $3.63 billion, a PE ratio of 14.72, a P/E/G ratio of 1.24 and a beta of 1.64. Axcelis Technologies has a 1-year low of $93.77 and a 1-year high of $201.00.

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

Insiders Place Their Bets

In other Axcelis Technologies news, EVP Douglas A. Lawson bought 500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $111.04 per share, with a total value of $55,520.00. Following the completion of the acquisition, the executive vice president now directly owns 19,648 shares of the company’s stock, valued at approximately $2,181,713.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axcelis Technologies

A number of large investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Axcelis Technologies by 38.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 423,151 shares of the semiconductor company’s stock worth $47,190,000 after buying an additional 118,149 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Axcelis Technologies by 51.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,325 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 450 shares during the period. ProShare Advisors LLC raised its stake in shares of Axcelis Technologies by 19.1% during the first quarter. ProShare Advisors LLC now owns 11,597 shares of the semiconductor company’s stock valued at $1,293,000 after purchasing an additional 1,861 shares in the last quarter. Hohimer Wealth Management LLC acquired a new stake in Axcelis Technologies in the first quarter worth about $322,000. Finally, Isthmus Partners LLC bought a new position in Axcelis Technologies in the 1st quarter valued at about $1,981,000. Institutional investors own 89.98% 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.