B. Riley Forecasts Strong Price Appreciation for Axcelis Technologies (NASDAQ:ACLS) Stock

Axcelis Technologies (NASDAQ:ACLS) had its target price boosted by research analysts at B. Riley from $58.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. B. Riley’s target price suggests a potential upside of 12.12% from the stock’s current price.

Axcelis Technologies Stock Down 2.3%

ACLS stock opened at $66.89 on Wednesday. Axcelis Technologies has a fifty-two week low of $40.40 and a fifty-two week high of $158.61. The business’s 50-day moving average is $57.09 and its two-hundred day moving average is $61.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.08 and a current ratio of 5.56. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 4.49 and a beta of 1.52.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.65. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. The business had revenue of $192.56 million during the quarter, compared to analysts’ expectations of $184.86 million. During the same quarter in the prior year, the business posted $1.57 earnings per share. The business’s quarterly revenue was down 23.7% on a year-over-year basis. As a group, analysts forecast that Axcelis Technologies will post 2.55 earnings per share for the current year.

Axcelis Technologies declared that its board has initiated a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Axcelis Technologies

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the transaction, the director now directly owns 35,050 shares of the company’s stock, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by insiders.

Institutional Trading of Axcelis Technologies

Several large investors have recently added to or reduced their stakes in ACLS. Signaturefd LLC raised its holdings in Axcelis Technologies by 90.6% in the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 173 shares in the last quarter. Versant Capital Management Inc increased its stake in Axcelis Technologies by 118.7% in the first quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 317 shares during the last quarter. Fifth Third Bancorp increased its stake in Axcelis Technologies by 160.5% in the first quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in Axcelis Technologies by 1,415.2% in the fourth quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 467 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new position in Axcelis Technologies in the first quarter valued at approximately $38,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

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.