Axcelis Technologies (NASDAQ:ACLS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Axcelis Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price objective on shares of Axcelis Technologies in a research note on Friday, August 3rd. Craig Hallum upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Benchmark reiterated a “buy” rating and set a $32.00 price objective on shares of Axcelis Technologies in a research note on Friday, August 3rd. Finally, Zacks Investment Research downgraded shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.50.

Axcelis Technologies stock traded down $0.27 during trading on Wednesday, reaching $17.34. The company had a trading volume of 5,659 shares, compared to its average volume of 374,242. Axcelis Technologies has a 12-month low of $16.65 and a 12-month high of $37.05. The company has a market cap of $583.69 million, a price-to-earnings ratio of 11.45 and a beta of 0.84.

Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Thursday, August 2nd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. Axcelis Technologies had a net margin of 28.57% and a return on equity of 16.84%. The firm had revenue of $119.30 million during the quarter, compared to the consensus estimate of $116.33 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Axcelis Technologies’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Axcelis Technologies will post 1.33 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Axcelis Technologies by 10.9% during the second quarter. BlackRock Inc. now owns 4,529,402 shares of the semiconductor company’s stock worth $89,683,000 after buying an additional 445,693 shares during the period. Dimensional Fund Advisors LP grew its stake in Axcelis Technologies by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,955,604 shares of the semiconductor company’s stock worth $38,721,000 after buying an additional 105,108 shares during the period. Peregrine Capital Management LLC lifted its position in shares of Axcelis Technologies by 2.7% during the third quarter. Peregrine Capital Management LLC now owns 839,925 shares of the semiconductor company’s stock worth $16,505,000 after purchasing an additional 22,101 shares in the last quarter. Millennium Management LLC lifted its position in shares of Axcelis Technologies by 19.1% during the first quarter. Millennium Management LLC now owns 571,105 shares of the semiconductor company’s stock worth $14,049,000 after purchasing an additional 91,666 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Axcelis Technologies by 11.8% during the second quarter. Bank of New York Mellon Corp now owns 414,694 shares of the semiconductor company’s stock worth $8,211,000 after purchasing an additional 43,870 shares in the last quarter. Institutional investors own 84.64% 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 worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.

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Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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