Needham & Company LLC Reaffirms Buy Rating for Axcelis Technologies Inc. (ACLS)
Axcelis Technologies Inc. (NASDAQ:ACLS)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Tuesday. They currently have a $15.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 20.48% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on ACLS. B. Riley reaffirmed a “buy” rating and set a $4.00 price target on shares of Axcelis Technologies in a research note on Wednesday, June 15th. Zacks Investment Research raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 5th. Finally, TheStreet raised Axcelis Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Axcelis Technologies currently has an average rating of “Buy” and an average target price of $8.50.
Axcelis Technologies (NASDAQ:ACLS) traded up 0.48% during midday trading on Tuesday, hitting $12.51. The company had a trading volume of 16,721 shares. The company’s 50 day moving average is $11.85 and its 200-day moving average is $11.01. Axcelis Technologies has a one year low of $7.16 and a one year high of $12.80. The company has a market cap of $364.77 million, a P/E ratio of 32.92 and a beta of 1.60.
Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. Axcelis Technologies had a return on equity of 6.18% and a net margin of 4.19%. The company earned $64.45 million during the quarter, compared to the consensus estimate of $66.04 million. During the same period last year, the business earned $0.05 EPS. The business’s quarterly revenue was down 17.8% on a year-over-year basis. On average, equities analysts predict that Axcelis Technologies will post $0.37 EPS for the current year.
In other Axcelis Technologies news, Director Arthur L. George, Jr. bought 5,000 shares of the stock in a transaction on Friday, August 5th. The shares were purchased at an average price of $11.24 per share, with a total value of $56,200.00. Following the acquisition, the director now directly owns 27,987 shares of the company’s stock, valued at approximately $314,573.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William J. Bintz sold 5,751 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $11.98, for a total value of $68,896.98. The disclosure for this sale can be found here. 5.13% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC acquired a new stake in Axcelis Technologies during the second quarter worth about $230,000. Schneider Capital Management Corp raised its stake in Axcelis Technologies by 6.5% in the second quarter. Schneider Capital Management Corp now owns 2,009,963 shares of the company’s stock worth $5,407,000 after buying an additional 122,848 shares during the period. Guggenheim Capital LLC raised its stake in Axcelis Technologies by 0.7% in the second quarter. Guggenheim Capital LLC now owns 47,145 shares of the company’s stock worth $127,000 after buying an additional 306 shares during the period. SG Capital Management LLC raised its stake in Axcelis Technologies by 22.2% in the second quarter. SG Capital Management LLC now owns 3,452,779 shares of the company’s stock worth $9,288,000 after buying an additional 626,981 shares during the period. Finally, State Street Corp raised its stake in Axcelis Technologies by 0.8% in the second quarter. State Street Corp now owns 1,797,277 shares of the company’s stock worth $4,834,000 after buying an additional 13,551 shares during the period.
Axcelis Technologies Company Profile
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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