B. Riley Cuts Axcelis Technologies (NASDAQ:ACLS) Price Target to $155.00

Axcelis Technologies (NASDAQ:ACLS) had its price target reduced by B. Riley from $165.00 to $155.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Axcelis Technologies’ Q2 2024 earnings at $1.30 EPS, FY2024 earnings at $6.68 EPS and Q4 2025 earnings at $2.07 EPS.

A number of other equities research analysts also recently issued reports on the stock. Craig Hallum raised shares of Axcelis Technologies from a hold rating to a buy rating and set a $130.00 price objective for the company in a research report on Friday. B. Riley Financial cut their price target on Axcelis Technologies from $180.00 to $165.00 and set a buy rating for the company in a report on Friday, February 9th. Finally, Needham & Company LLC restated a hold rating on shares of Axcelis Technologies in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Axcelis Technologies presently has a consensus rating of Moderate Buy and a consensus target price of $169.00.

Axcelis Technologies Trading Up 4.5 %

Shares of NASDAQ:ACLS opened at $111.45 on Friday. The stock’s 50-day simple moving average is $107.79 and its two-hundred day simple moving average is $120.99. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.20 and a beta of 1.64. Axcelis Technologies has a 52-week low of $93.77 and a 52-week high of $201.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.71 and a current ratio of 4.00.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.33. The company had revenue of $252.37 million for the quarter, compared to the consensus estimate of $242.61 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. Analysts expect that Axcelis Technologies will post 6.63 EPS for the current year.

Insider Buying and Selling at Axcelis Technologies

In related news, EVP Douglas A. Lawson bought 500 shares of the stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $111.04 per share, with a total value of $55,520.00. Following the completion of the acquisition, the executive vice president now owns 19,648 shares of the company’s stock, valued at $2,181,713.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Axcelis Technologies

A number of hedge funds have recently made changes to their positions in ACLS. NBC Securities Inc. purchased a new position in Axcelis Technologies during the 3rd quarter valued at approximately $28,000. Clearstead Advisors LLC purchased a new position in shares of Axcelis Technologies in the third quarter valued at $33,000. Rakuten Securities Inc. bought a new stake in Axcelis Technologies in the fourth quarter worth $27,000. C M Bidwell & Associates Ltd. purchased a new stake in Axcelis Technologies during the third quarter valued at $34,000. Finally, GAMMA Investing LLC lifted its position in Axcelis Technologies by 109.4% during the first quarter. GAMMA Investing LLC now owns 266 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 139 shares during the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

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.