Axcelis Technologies, Inc. (NASDAQ:ACLS) Expected to Post Q2 2024 Earnings of $1.31 Per Share

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Investment analysts at William Blair decreased their Q2 2024 earnings estimates for shares of Axcelis Technologies in a research note issued to investors on Tuesday, May 7th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will earn $1.31 per share for the quarter, down from their prior forecast of $1.43. The consensus estimate for Axcelis Technologies’ current full-year earnings is $6.63 per share. William Blair also issued estimates for Axcelis Technologies’ Q3 2024 earnings at $1.52 EPS, Q4 2024 earnings at $1.86 EPS, FY2024 earnings at $6.26 EPS, Q3 2025 earnings at $2.15 EPS and Q4 2025 earnings at $2.46 EPS.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.24 by $0.33. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The firm had revenue of $252.37 million for the quarter, compared to analysts’ expectations of $242.61 million. During the same period in the previous year, the firm posted $1.43 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis.

ACLS has been the subject of a number of other research reports. B. Riley cut their price target on shares of Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. B. Riley Financial dropped their target price on shares of Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 9th. Benchmark decreased their price target on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, 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 note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Axcelis Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.00.

Axcelis Technologies Trading Up 1.4 %

Shares of NASDAQ:ACLS opened at $113.04 on Wednesday. Axcelis Technologies has a 12-month low of $93.77 and a 12-month high of $201.00. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $107.90 and a 200-day moving average of $120.41. The stock has a market cap of $3.68 billion, a PE ratio of 14.93, a P/E/G ratio of 1.24 and a beta of 1.64.

Insider Activity at Axcelis Technologies

In related news, EVP Douglas A. Lawson purchased 500 shares of Axcelis Technologies stock in a transaction that occurred on Friday, February 23rd. The stock was bought at an average price of $111.04 per share, for a total transaction of $55,520.00. Following the completion of the transaction, the executive vice president now owns 19,648 shares in the company, valued at $2,181,713.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.14% of the stock is currently owned by company insiders.

Institutional Trading of Axcelis Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. bought a new position in Axcelis Technologies during the fourth quarter valued at approximately $27,000. NBC Securities Inc. purchased a new stake in Axcelis Technologies in the third quarter worth $28,000. 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 buying an additional 139 shares during the period. Clearstead Advisors LLC purchased a new position in Axcelis Technologies during the third quarter valued at $33,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Axcelis Technologies during the third quarter valued at $34,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

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