Zacks Investment Research upgraded shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) from a hold rating to a strong-buy rating in a report published on Thursday. The firm currently has $19.00 price objective on the stock.

According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “

ACLS has been the topic of several other reports. Needham & Company LLC restated a buy rating and set a $15.00 price objective on shares of Axcelis Technologies in a research note on Tuesday, September 20th. Benchmark Co. restated a buy rating and set a $16.00 price objective on shares of Axcelis Technologies in a research note on Thursday, November 3rd. Finally, B. Riley restated a buy rating on shares of Axcelis Technologies in a research note on Monday, September 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $17.00.

Axcelis Technologies (NASDAQ:ACLS) traded down 0.93% during trading on Thursday, hitting $15.90. 195,152 shares of the company traded hands. Axcelis Technologies has a 12-month low of $7.16 and a 12-month high of $16.55. The stock has a 50 day moving average price of $13.87 and a 200 day moving average price of $12.54. The company has a market capitalization of $466.95 million, a P/E ratio of 63.35 and a beta of 1.50.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Axcelis Technologies had a net margin of 2.93% and a return on equity of 4.06%. The business earned $67.50 million during the quarter, compared to the consensus estimate of $67.74 million. During the same quarter last year, the firm posted $0.05 EPS. Axcelis Technologies’s revenue was down 17.2% compared to the same quarter last year. On average, equities analysts anticipate that Axcelis Technologies will post $0.34 earnings per share for the current year.

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In other news, Director Barbara J. Lundberg sold 7,000 shares of Axcelis Technologies stock in a transaction on Monday, December 12th. The stock was sold at an average price of $13.66, for a total transaction of $95,620.00. Following the sale, the director now directly owns 15,762 shares in the company, valued at approximately $215,308.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.13% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. SG Capital Management LLC boosted 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 last quarter. California Public Employees Retirement System boosted its stake in Axcelis Technologies by 179.6% in the second quarter. California Public Employees Retirement System now owns 902,300 shares of the company’s stock worth $2,427,000 after buying an additional 579,551 shares during the last quarter. Northpointe Capital LLC acquired a new stake in Axcelis Technologies during the third quarter worth approximately $5,303,000. Sei Investments Co. acquired a new stake in Axcelis Technologies during the second quarter worth approximately $641,000. Finally, Vanguard Group Inc. boosted its stake in Axcelis Technologies by 3.9% in the second quarter. Vanguard Group Inc. now owns 4,389,164 shares of the company’s stock worth $11,807,000 after buying an additional 166,182 shares during the last quarter. Institutional investors own 70.74% 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. 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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