Axcelis Technologies (NASDAQ:ACLS) Releases Earnings Results, Beats Expectations By $0.37 EPS

Axcelis Technologies (NASDAQ:ACLS) issued its quarterly earnings data on Tuesday. The semiconductor company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.37, FiscalAI reports. Axcelis Technologies had a net margin of 15.93% and a return on equity of 14.58%. The firm had revenue of $238.33 million for the quarter, compared to the consensus estimate of $215.04 million.

Axcelis Technologies Stock Up 4.2%

Axcelis Technologies stock traded up $3.95 during mid-day trading on Tuesday, hitting $98.50. The company had a trading volume of 1,656,675 shares, compared to its average volume of 668,510. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.04. Axcelis Technologies has a 1 year low of $40.40 and a 1 year high of $102.93. The business has a fifty day moving average of $88.30 and a 200 day moving average of $85.45. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 23.29 and a beta of 1.77.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACLS. Bank of America upped their price objective on shares of Axcelis Technologies from $90.00 to $100.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 13th. Zacks Research lowered shares of Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Wall Street Zen cut Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. B. Riley Financial lifted their price target on shares of Axcelis Technologies from $84.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axcelis Technologies in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.25.

Insider Buying and Selling at Axcelis Technologies

In other news, EVP Gerald M. Blumenstock sold 3,034 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $89.46, for a total transaction of $271,421.64. Following the transaction, the executive vice president directly owned 18,661 shares in the company, valued at approximately $1,669,413.06. This trade represents a 13.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorge Titinger sold 2,000 shares of Axcelis Technologies stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $86.05, for a total transaction of $172,100.00. Following the completion of the transaction, the director directly owned 7,477 shares in the company, valued at $643,395.85. The trade was a 21.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axcelis Technologies

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of Axcelis Technologies by 145.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 451 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 267 shares during the period. Advisory Services Network LLC purchased a new position in Axcelis Technologies in the 3rd quarter valued at approximately $32,000. Quadrant Capital Group LLC acquired a new position in Axcelis Technologies during the third quarter worth $93,000. Smartleaf Asset Management LLC raised its holdings in Axcelis Technologies by 21.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the semiconductor company’s stock worth $95,000 after purchasing an additional 206 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in Axcelis Technologies by 5,705.6% during the third quarter. NewEdge Advisors LLC now owns 1,045 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 1,027 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc is a leading developer and manufacturer of ion implantation and cleaning equipment used in the fabrication of semiconductor chips. The company specializes in high-current, medium-current and high-energy ion implantation systems, which are critical for introducing precisely controlled dopants into silicon wafers. Axcelis also offers plasma-based cleaning and dry strip tools that support advanced process nodes in logic, memory and power device manufacturing.

The company’s product portfolio encompasses single-wafer and multi-wafer cluster tools designed to deliver high throughput, accuracy and uniformity for semiconductor process steps.