Axcelis Technologies (NASDAQ:ACLS) Announces Earnings Results

Axcelis Technologies (NASDAQ:ACLS) posted its earnings results on Wednesday. The semiconductor company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.24 by $0.33, Briefing.com reports. The firm had revenue of $252.37 million during the quarter, compared to analysts’ expectations of $242.61 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 31.14%. Axcelis Technologies’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. Axcelis Technologies updated its Q2 guidance to $1.30 EPS and its Q2 2024 guidance to 1.300-1.300 EPS.

Axcelis Technologies Price Performance

NASDAQ:ACLS opened at $111.45 on Friday. The company has a quick ratio of 2.71, a current ratio of 3.79 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $107.79 and its 200 day moving average price is $121.52. Axcelis Technologies has a 52-week low of $93.77 and a 52-week high of $201.00. The firm has a market cap of $3.63 billion, a P/E ratio of 14.72, a PEG ratio of 1.09 and a beta of 1.64.

Insider Buying and Selling at Axcelis Technologies

In other Axcelis Technologies news, EVP Douglas A. Lawson bought 500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $111.04 per share, with a total value of $55,520.00. Following the completion of the purchase, the executive vice president now directly owns 19,648 shares in the company, valued at $2,181,713.92. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACLS. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Friday. B. Riley Financial lowered their price target on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 9th. B. Riley reduced their price objective on shares of Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating for the company in a report on Friday. Craig Hallum upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Friday. Finally, Benchmark dropped their price target on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.00.

Axcelis Technologies Company Profile

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