Axcelis Technologies (NASDAQ:ACLS) Posts Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Axcelis Technologies (NASDAQ:ACLS) released its quarterly earnings results on Tuesday. The semiconductor company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.12 by $0.37, FiscalAI reports. The company had revenue of $238.33 million during the quarter, compared to analyst estimates of $215.04 million. Axcelis Technologies had a return on equity of 14.58% and a net margin of 15.93%.

Axcelis Technologies Stock Up 4.2%

Shares of ACLS traded up $3.95 during mid-day trading on Tuesday, hitting $98.50. 1,637,886 shares of the company traded hands, compared to its average volume of 667,772. The company has a market capitalization of $3.02 billion, a PE ratio of 23.29 and a beta of 1.77. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $88.30 and a 200 day moving average of $85.45. Axcelis Technologies has a 1-year low of $40.40 and a 1-year high of $102.93.

Analyst Upgrades and Downgrades

ACLS has been the topic of several recent research reports. Wall Street Zen cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. B. Riley Financial increased their price objective on shares of Axcelis Technologies from $84.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, January 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Axcelis Technologies in a report on Monday, December 22nd. Bank of America upped their target price on Axcelis Technologies from $90.00 to $100.00 and gave the stock an “underperform” rating in a report on Tuesday, January 13th. Finally, Zacks Research cut Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $102.25.

Insider Activity at Axcelis Technologies

In related news, EVP Gerald M. Blumenstock sold 3,034 shares of Axcelis Technologies stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $89.46, for a total transaction of $271,421.64. Following the completion of the sale, the executive vice president owned 18,661 shares of the company’s stock, valued at $1,669,413.06. The trade was a 13.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jorge Titinger sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $86.05, for a total transaction of $172,100.00. Following the completion of the transaction, the director owned 7,477 shares in the company, valued at approximately $643,395.85. This trade represents a 21.10% decrease in their position. The SEC filing for this sale provides additional information. 0.48% of the stock is currently owned by insiders.

Institutional Trading of Axcelis Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Axcelis Technologies by 3.8% in the first quarter. Royal Bank of Canada now owns 117,566 shares of the semiconductor company’s stock valued at $5,838,000 after buying an additional 4,324 shares during the last quarter. AQR Capital Management LLC grew its stake in Axcelis Technologies by 4.9% during the 1st quarter. AQR Capital Management LLC now owns 35,717 shares of the semiconductor company’s stock valued at $1,774,000 after acquiring an additional 1,678 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Axcelis Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,396 shares of the semiconductor company’s stock valued at $963,000 after acquiring an additional 849 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Axcelis Technologies by 7.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 635,393 shares of the semiconductor company’s stock worth $31,560,000 after purchasing an additional 44,275 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Axcelis Technologies by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 78,756 shares of the semiconductor company’s stock worth $3,912,000 after purchasing an additional 836 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

About Axcelis Technologies

Axcelis Technologies, Inc is a leading developer and manufacturer of ion implantation and cleaning equipment used in the fabrication of semiconductor chips. The company specializes in high-current, medium-current and high-energy ion implantation systems, which are critical for introducing precisely controlled dopants into silicon wafers. Axcelis also offers plasma-based cleaning and dry strip tools that support advanced process nodes in logic, memory and power device manufacturing.

The company’s product portfolio encompasses single-wafer and multi-wafer cluster tools designed to deliver high throughput, accuracy and uniformity for semiconductor process steps.