Axcelis Technologies, Inc. (ACLS) Reaches New 1-Year High After Analyst Upgrade
Axcelis Technologies, Inc. (NASDAQ:ACLS) shares hit a new 52-week high during mid-day trading on Friday after B. Riley raised their price target on the stock from $30.00 to $39.00. B. Riley currently has a buy rating on the stock. Axcelis Technologies traded as high as $35.70 and last traded at $0.00, with a volume of shares changing hands.
A number of other brokerages also recently issued reports on ACLS. Benchmark Co. reiterated a “buy” rating and issued a $28.00 price target (up from $24.00) on shares of Axcelis Technologies in a report on Friday, September 8th. Stifel Nicolaus lifted their price target on Axcelis Technologies from $20.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, September 15th. ValuEngine downgraded Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, BidaskClub downgraded Axcelis Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.33.
In other news, CFO Kevin J. Brewer sold 62,348 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $22.46, for a total value of $1,400,336.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas A. Lawson sold 14,454 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $21.12, for a total value of $305,268.48. The disclosure for this sale can be found here. Insiders sold a total of 106,641 shares of company stock valued at $2,347,514 in the last three months. Insiders own 5.66% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Peregrine Capital Management LLC lifted its position in Axcelis Technologies by 405.6% during the 2nd quarter. Peregrine Capital Management LLC now owns 572,856 shares of the semiconductor company’s stock worth $12,001,000 after acquiring an additional 459,560 shares during the period. Russell Investments Group Ltd. lifted its position in Axcelis Technologies by 247.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 161,665 shares of the semiconductor company’s stock worth $3,386,000 after acquiring an additional 115,111 shares during the period. Swiss National Bank acquired a new stake in Axcelis Technologies during the 2nd quarter worth about $1,029,000. Virtu KCG Holdings LLC acquired a new stake in Axcelis Technologies during the 2nd quarter worth about $672,000. Finally, KBC Group NV lifted its position in Axcelis Technologies by 138.0% during the 2nd quarter. KBC Group NV now owns 77,218 shares of the semiconductor company’s stock worth $1,618,000 after acquiring an additional 44,775 shares during the period. 74.68% of the stock is owned by hedge funds and other institutional investors.
The stock has a market capitalization of $997.60 million, a PE ratio of 28.27, a P/E/G ratio of 1.25 and a beta of 1.10.
Axcelis Technologies (NASDAQ:ACLS) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Axcelis Technologies had a net margin of 10.80% and a return on equity of 17.04%. The business had revenue of $102.80 million for the quarter, compared to analysts’ expectations of $100.07 million. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 59.4% compared to the same quarter last year. research analysts forecast that Axcelis Technologies, Inc. will post 1.27 EPS for the current fiscal year.
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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 also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.
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