Analysts Set Axcelis Technologies, Inc. (NASDAQ:ACLS) PT at $167.33

Axcelis Technologies, Inc. (NASDAQ:ACLS) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $167.33.

ACLS has been the subject of a number of research reports. B. Riley cut their price objective on shares of Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Bank of America lifted their price target on shares of Axcelis Technologies from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. DA Davidson increased their price objective on Axcelis Technologies from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Craig Hallum upped their price target on Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a report on Friday, August 2nd.

Insider Activity

In other news, Director Jorge Titinger sold 6,086 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $109.98, for a total value of $669,338.28. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $647,892.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACLS. Sanctuary Advisors LLC purchased a new position in Axcelis Technologies during the second quarter worth about $447,000. Truist Financial Corp acquired a new position in shares of Axcelis Technologies during the 2nd quarter valued at about $673,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Axcelis Technologies by 69.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,120 shares of the semiconductor company’s stock worth $301,000 after acquiring an additional 870 shares during the period. Creative Planning grew its holdings in Axcelis Technologies by 984.4% in the second quarter. Creative Planning now owns 30,861 shares of the semiconductor company’s stock valued at $4,388,000 after purchasing an additional 28,015 shares during the period. Finally, Algert Global LLC increased its stake in Axcelis Technologies by 5.9% during the second quarter. Algert Global LLC now owns 52,972 shares of the semiconductor company’s stock worth $7,532,000 after acquiring an additional 2,971 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Axcelis Technologies Trading Up 4.0 %

NASDAQ:ACLS opened at $101.53 on Friday. The company has a current ratio of 4.42, a quick ratio of 3.26 and a debt-to-equity ratio of 0.05. Axcelis Technologies has a 12 month low of $93.77 and a 12 month high of $183.13. The company has a market cap of $3.30 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.93 and a beta of 1.58. The company has a 50 day simple moving average of $119.63 and a two-hundred day simple moving average of $116.88.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.37 by $0.18. Axcelis Technologies had a net margin of 21.54% and a return on equity of 27.35%. The business had revenue of $256.51 million for the quarter, compared to analysts’ expectations of $250.06 million. During the same quarter in the previous year, the company earned $1.86 EPS. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts forecast that Axcelis Technologies will post 6.05 earnings per share for the current year.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.