Axcelis Technologies Inc. (ACLS) Rating Reiterated by Needham & Company LLC
Axcelis Technologies Inc. (NASDAQ:ACLS)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report issued on Tuesday. They currently have a $15.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 17.55% from the company’s previous close.
Several other research firms have also recently weighed in on ACLS. Zacks Investment Research cut Axcelis Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. B. Riley restated a “buy” rating on shares of Axcelis Technologies in a report on Sunday, July 10th. Finally, TheStreet upgraded Axcelis Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Axcelis Technologies presently has an average rating of “Buy” and a consensus price target of $8.50.
Shares of Axcelis Technologies (NASDAQ:ACLS) opened at 12.76 on Tuesday. The firm’s 50-day moving average is $11.96 and its 200 day moving average is $11.03. Axcelis Technologies has a one year low of $7.16 and a one year high of $12.80. The firm has a market capitalization of $372.06 million, a P/E ratio of 33.58 and a beta of 1.60.
Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The company had revenue of $64.45 million for the quarter, compared to analysts’ expectations of $66.04 million. Axcelis Technologies had a return on equity of 6.18% and a net margin of 4.19%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 earnings per share. Equities research analysts predict that Axcelis Technologies will post $0.37 earnings per share for the current year.
In other Axcelis Technologies news, Director Arthur L. George, Jr. purchased 5,000 shares of the company’s stock in a transaction on Friday, August 5th. The shares were purchased at an average cost of $11.24 per share, with a total value of $56,200.00. Following the completion of the purchase, the director now owns 27,987 shares in the company, valued at $314,573.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William J. Bintz sold 5,751 shares of the business’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 corporate insiders.
A number of institutional investors have recently modified their holdings of ACLS. UBS Group AG raised its position in shares of Axcelis Technologies by 16.3% in the first quarter. UBS Group AG now owns 862,095 shares of the company’s stock valued at $2,414,000 after buying an additional 120,544 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Axcelis Technologies by 276.5% in the first quarter. Goldman Sachs Group Inc. now owns 41,408 shares of the company’s stock valued at $116,000 after buying an additional 30,410 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Axcelis Technologies by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 83,766 shares of the company’s stock valued at $235,000 after buying an additional 461 shares during the period. Keane Capital Partners LLC acquired a new position in shares of Axcelis Technologies during the first quarter valued at about $772,000. Finally, Mizuho Trust & Banking Co. Ltd. raised its position in shares of Axcelis Technologies by 42.4% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 615,779 shares of the company’s stock valued at $1,656,000 after buying an additional 183,500 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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