Axcelis Technologies Inc. (NASDAQ:ACLS) shares were up 3.4% during mid-day trading on Tuesday . The stock traded as high as $11.08 and last traded at $11.02, with a volume of 159,126 shares. The stock had previously closed at $10.66.

Several research analysts have recently issued reports on ACLS shares. Zacks Investment Research raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, July 5th. B. Riley reaffirmed a “buy” rating on shares of Axcelis Technologies in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Axcelis Technologies currently has a consensus rating of “Buy” and a consensus price target of $5.88.

The firm’s 50 day moving average is $10.60 and its 200-day moving average is $10.52. The stock has a market capitalization of $315.57 million and a price-to-earnings ratio of 22.65.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Monday, May 2nd. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm earned $67.50 million during the quarter, compared to analysts’ expectations of $65.95 million. During the same period last year, the business posted $0.02 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, analysts anticipate that Axcelis Technologies Inc. will post $0.43 earnings per share for the current fiscal year.

Other hedge funds and institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Axcelis Technologies by 102.3% in the fourth quarter. Victory Capital Management Inc. now owns 395,378 shares of the company’s stock valued at $1,024,000 after buying an additional 199,946 shares during the period. Employees Retirement System of Texas raised its position in Axcelis Technologies by 32.7% in the fourth quarter. Employees Retirement System of Texas now owns 684,551 shares of the company’s stock valued at $1,773,000 after buying an additional 168,551 shares during the period. Royce & Associates LLC raised its position in Axcelis Technologies by 40.6% in the fourth quarter. Royce & Associates LLC now owns 3,899,095 shares of the company’s stock valued at $10,099,000 after buying an additional 1,125,400 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Axcelis Technologies by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,470,728 shares of the company’s stock valued at $14,169,000 after buying an additional 443,943 shares during the period.

Axcelis Technologies, Inc designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company operates through the manufacture of capital equipment for the semiconductor manufacturing industry segment. The Company sells its equipment to semiconductor chip manufacturers across the world.

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