StockNews.com Downgrades Axcelis Technologies (NASDAQ:ACLS) to Buy

StockNews.com lowered shares of Axcelis Technologies (NASDAQ:ACLSGet Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other brokerages have also recently weighed in on ACLS. B. Riley boosted their price target on shares of Axcelis Technologies from $87.00 to $98.00 in a research report on Wednesday, March 30th. Zacks Investment Research cut shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Tuesday, April 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $77.80.

Axcelis Technologies stock opened at $53.58 on Wednesday. Axcelis Technologies has a 52-week low of $33.36 and a 52-week high of $83.74. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 18.54 and a beta of 1.55. The company has a fifty day simple moving average of $66.48 and a 200-day simple moving average of $64.06. The company has a quick ratio of 2.83, a current ratio of 4.12 and a debt-to-equity ratio of 0.09.

Axcelis Technologies (NASDAQ:ACLSGet Rating) last released its earnings results on Monday, February 7th. The semiconductor company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.21. Axcelis Technologies had a net margin of 14.89% and a return on equity of 19.42%. The business had revenue of $205.68 million during the quarter, compared to analyst estimates of $190.04 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 68.3% compared to the same quarter last year. On average, research analysts anticipate that Axcelis Technologies will post 3.99 EPS for the current fiscal year.

In other Axcelis Technologies news, CFO Kevin J. Brewer sold 8,636 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $70.89, for a total transaction of $612,206.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dennis Thomas St sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $72.81, for a total transaction of $218,430.00. The disclosure for this sale can be found here. Insiders sold 25,636 shares of company stock worth $1,799,316 in the last ninety days. 2.15% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Axcelis Technologies by 1.0% during the fourth quarter. BlackRock Inc. now owns 5,011,615 shares of the semiconductor company’s stock worth $373,667,000 after purchasing an additional 48,022 shares during the period. Senvest Management LLC increased its stake in Axcelis Technologies by 8.2% during the third quarter. Senvest Management LLC now owns 1,890,555 shares of the semiconductor company’s stock worth $88,913,000 after purchasing an additional 143,034 shares during the period. Dimensional Fund Advisors LP increased its stake in Axcelis Technologies by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,609,109 shares of the semiconductor company’s stock worth $75,676,000 after purchasing an additional 6,176 shares during the period. Invesco Ltd. increased its stake in Axcelis Technologies by 18.0% during the fourth quarter. Invesco Ltd. now owns 727,226 shares of the semiconductor company’s stock worth $54,222,000 after purchasing an additional 110,764 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Axcelis Technologies by 3.4% during the third quarter. Goldman Sachs Group Inc. now owns 690,530 shares of the semiconductor company’s stock worth $32,476,000 after buying an additional 22,424 shares during the period. Institutional investors own 83.76% of the company’s stock.

About Axcelis Technologies (Get Rating)

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.

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