Axcelis Technologies (NASDAQ:ACLS) Hits New 12-Month High Following Analyst Upgrade


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Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price reached a new 52-week high during trading on Wednesday after Benchmark raised their price target on the stock from $33.00 to $38.00. The company traded as high as $37.57 and last traded at $36.53, with a volume of 9347 shares traded. The stock had previously closed at $31.63.

A number of other research firms also recently commented on ACLS. B. Riley boosted their target price on Axcelis Technologies from $40.00 to $43.00 in a research report on Wednesday. Stifel Nicolaus upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Sunday, September 20th. BidaskClub upgraded shares of Axcelis Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 22nd. ValuEngine upgraded shares of Axcelis Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 5th. Finally, Craig Hallum boosted their target price on shares of Axcelis Technologies from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Axcelis Technologies currently has an average rating of “Buy” and an average target price of $35.86.

In other news, Director John T. Kurtzweil sold 3,000 shares of the business’s stock in a transaction dated 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 $947,761.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lynnette C. Fallon sold 28,648 shares of the business’s stock in a transaction dated Tuesday, November 17th. The stock was sold at an average price of $26.00, for a total value of $744,848.00. The disclosure for this sale can be found here. Insiders have sold 50,148 shares of company stock worth $1,334,863 in the last 90 days. Insiders own 2.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ACLS. Glenmede Trust Co. NA boosted its position in Axcelis Technologies by 299.6% in 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 last quarter. Meeder Asset Management Inc. boosted its position in Axcelis Technologies by 6,863.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,323 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 1,304 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in Axcelis Technologies in the 3rd quarter worth approximately $44,000. Advisor Group Holdings Inc. boosted 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 worth $75,000 after purchasing an additional 1,532 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Axcelis Technologies by 294.7% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

The company has a current ratio of 6.28, a quick ratio of 3.98 and a debt-to-equity ratio of 0.10. The company has a 50-day simple moving average of $29.06 and a 200 day simple moving average of $26.00. The firm 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 released its quarterly earnings data on Tuesday, November 10th. The semiconductor company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Axcelis Technologies had a return on equity of 10.28% and a net margin of 9.79%. The business had revenue of $110.40 million for the quarter, compared to analyst estimates of $107.50 million. During the same quarter in the prior year, the firm posted $0.02 EPS. The business’s quarterly revenue was up 58.8% compared to the same quarter last year. On average, equities analysts expect that Axcelis Technologies, Inc. will post 1.25 earnings per share for the current year.

About Axcelis Technologies (NASDAQ:ACLS)

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.

See Also: Gross Domestic Product (GDP)

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