Axcelis Technologies Inc (ACLS) Receives $27.38 Average PT from Analysts

Shares of Axcelis Technologies Inc (NASDAQ:ACLS) have been assigned an average rating of “Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $27.38.

A number of equities research analysts have issued reports on the company. ValuEngine raised Axcelis Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. BidaskClub raised Axcelis Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised Axcelis Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, February 11th. Craig Hallum lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Benchmark raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $26.50 price target on the stock in a research report on Friday, February 8th.

ACLS stock opened at $21.96 on Friday. The stock has a market capitalization of $720.88 million, a price-to-earnings ratio of 16.76 and a beta of 1.18. Axcelis Technologies has a 1 year low of $15.46 and a 1 year high of $25.17.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The company had revenue of $91.48 million for the quarter, compared to analyst estimates of $93.05 million. Axcelis Technologies had a return on equity of 11.39% and a net margin of 10.37%. Axcelis Technologies’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Equities research analysts expect that Axcelis Technologies will post 0.77 earnings per share for the current fiscal year.

Axcelis Technologies declared that its board has approved a share repurchase plan on Monday, January 14th that allows the company to repurchase $35.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

In other news, Director R John Fletcher sold 22,500 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.26, for a total value of $455,850.00. Following the transaction, the director now owns 58,372 shares in the company, valued at approximately $1,182,616.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Douglas A. Lawson sold 13,672 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $22.51, for a total value of $307,756.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,172 shares of company stock worth $875,757. Company insiders own 3.72% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Axcelis Technologies by 1,490.1% in the 1st quarter. JPMorgan Chase & Co. now owns 181,467 shares of the semiconductor company’s stock valued at $3,651,000 after acquiring an additional 170,055 shares during the last quarter. Victory Capital Management Inc. grew its stake in Axcelis Technologies by 463.3% during the 1st quarter. Victory Capital Management Inc. now owns 97,234 shares of the semiconductor company’s stock worth $1,956,000 after buying an additional 79,971 shares during the last quarter. Texas Permanent School Fund grew its stake in Axcelis Technologies by 4.2% during the 1st quarter. Texas Permanent School Fund now owns 22,107 shares of the semiconductor company’s stock worth $445,000 after buying an additional 897 shares during the last quarter. Comerica Bank grew its stake in Axcelis Technologies by 2.6% during the 1st quarter. Comerica Bank now owns 31,996 shares of the semiconductor company’s stock worth $669,000 after buying an additional 805 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Axcelis Technologies by 1.6% during the 1st quarter. Rhumbline Advisers now owns 97,823 shares of the semiconductor company’s stock worth $1,968,000 after buying an additional 1,526 shares during the last quarter. Institutional investors and hedge funds own 83.03% 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 worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.

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Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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