Axcelis Technologies (NASDAQ:ACLS) Downgraded by Zacks Investment Research


Share on StockTwits

Zacks Investment Research downgraded shares of Axcelis Technologies (NASDAQ:ACLS) from a hold rating to a sell rating in a report published on Monday morning, Zacks.com reports.

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. “

A number of other brokerages have also recently issued reports on ACLS. Stifel Nicolaus raised shares of Axcelis Technologies from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Sunday, September 20th. BidaskClub upgraded Axcelis Technologies from a buy rating to a strong-buy rating in a research note on Tuesday, December 22nd. ValuEngine upgraded Axcelis Technologies from a sell rating to a hold rating in a research report on Tuesday, January 5th. Finally, B. Riley increased their target price on Axcelis Technologies from $37.00 to $40.00 and gave the stock a buy rating in a research report on Friday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $35.86.

Axcelis Technologies stock opened at $37.18 on Monday. Axcelis Technologies has a one year low of $12.99 and a one year high of $37.64. The stock has a fifty day moving average of $29.06 and a 200 day moving average of $26.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.98 and a current ratio of 6.28. The stock has a market cap of $1.25 billion, a PE ratio of 27.96 and a beta of 1.42.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Tuesday, November 10th. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.24 by $0.08. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $107.50 million. Axcelis Technologies had a return on equity of 10.28% and a net margin of 9.79%. The business’s revenue for the quarter was up 58.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 earnings per share. As a group, sell-side analysts predict that Axcelis Technologies will post 1.25 EPS for the current fiscal year.

In related news, Director John T. Kurtzweil sold 3,000 shares of the stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $27.52, for a total transaction of $82,560.00. Following the sale, the director now owns 34,439 shares in the company, valued at approximately $947,761.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lynnette C. Fallon sold 18,500 shares of the firm’s stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $27.43, for a total value of $507,455.00. The disclosure for this sale can be found here. Insiders sold a total of 50,148 shares of company stock valued at $1,334,863 over the last three months. Corporate insiders own 2.93% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA boosted its position in shares of Axcelis Technologies by 299.6% during the second quarter. Glenmede Trust Co. NA now owns 955 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 716 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Axcelis Technologies by 6,863.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,323 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,304 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in Axcelis Technologies during the 3rd quarter valued at $44,000. Advisor Group Holdings Inc. grew its position in Axcelis Technologies by 129.3% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,717 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 1,532 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Axcelis Technologies by 294.7% in the second quarter. Bank of Montreal Can now owns 3,868 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 2,888 shares during the period. 83.38% of the stock is currently owned by institutional investors.

About Axcelis Technologies

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. The company offers high energy, high current, and medium current implanters for various application requirements.

Featured Article: What are the qualifications of a portfolio manager?

Get a free copy of the Zacks research report on Axcelis Technologies (ACLS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

Receive News & Ratings for Axcelis Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axcelis Technologies and related companies with MarketBeat.com's FREE daily email newsletter.