Axcelis Technologies’ (ACLS) “Buy” Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Axcelis Technologies (NASDAQ:ACLS – Get Rating) in a research report report published on Wednesday, PriceTargets.com reports. DA Davidson also issued estimates for Axcelis Technologies’ Q1 2023 earnings at $1.25 EPS, FY2023 earnings at $6.20 EPS and FY2024 earnings at $7.60 EPS.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Axcelis Technologies from a buy rating to a hold rating in a research note on Wednesday, December 28th. Needham & Company LLC lifted their price target on shares of Axcelis Technologies from $100.00 to $140.00 and gave the company a buy rating in a research note on Friday, February 10th. B. Riley lifted their price target on shares of Axcelis Technologies from $115.00 to $155.00 and gave the company a buy rating in a research note on Friday, February 10th. Loop Capital initiated coverage on shares of Axcelis Technologies in a research report on Monday, February 27th. They set a buy rating and a $150.00 target price for the company. Finally, Craig Hallum boosted their target price on shares of Axcelis Technologies from $113.00 to $140.00 and gave the stock a buy rating in a research report on Friday, February 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $145.33.

Axcelis Technologies Price Performance

ACLS stock opened at $129.91 on Wednesday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 23.79 and a beta of 1.72. The company has a quick ratio of 2.56, a current ratio of 3.54 and a debt-to-equity ratio of 0.07. Axcelis Technologies has a 12-month low of $46.41 and a 12-month high of $132.98. The company’s fifty day simple moving average is $107.96 and its 200 day simple moving average is $82.13.

Axcelis Technologies (NASDAQ:ACLS – Get Rating) last released its earnings results on Thursday, February 9th. The semiconductor company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.25. The business had revenue of $266.05 million for the quarter, compared to analyst estimates of $251.80 million. Axcelis Technologies had a net margin of 19.90% and a return on equity of 30.16%. Axcelis Technologies’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, analysts expect that Axcelis Technologies will post 4.9 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Tzu Yin Chiu sold 1,700 shares of the business’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $127.12, for a total transaction of $216,104.00. Following the transaction, the director now directly owns 28,873 shares in the company, valued at $3,670,335.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Tzu Yin Chiu sold 1,700 shares of the business’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $127.12, for a total transaction of $216,104.00. Following the transaction, the director now directly owns 28,873 shares in the company, valued at $3,670,335.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary G. Puma sold 4,202 shares of the business’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $80.31, for a total transaction of $337,462.62. Following the completion of the transaction, the chief executive officer now owns 393,511 shares in the company, valued at $31,602,868.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,599 shares of company stock worth $769,650. 2.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACLS. Driehaus Capital Management LLC boosted its stake in Axcelis Technologies by 65.9% in the fourth quarter. Driehaus Capital Management LLC now owns 1,133,457 shares of the semiconductor company’s stock valued at $89,951,000 after acquiring an additional 450,382 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Axcelis Technologies by 1,590.4% during the 3rd quarter. Victory Capital Management Inc. now owns 343,666 shares of the semiconductor company’s stock valued at $20,813,000 after buying an additional 323,335 shares in the last quarter. Senvest Management LLC lifted its stake in shares of Axcelis Technologies by 18.3% during the 4th quarter. Senvest Management LLC now owns 1,786,434 shares of the semiconductor company’s stock valued at $141,771,000 after buying an additional 275,974 shares in the last quarter. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Axcelis Technologies during the 4th quarter valued at approximately $20,964,000. Finally, Vanguard Group Inc. lifted its stake in shares of Axcelis Technologies by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,957,174 shares of the semiconductor company’s stock valued at $179,085,000 after buying an additional 180,011 shares in the last quarter. 86.47% of the stock is currently owned by hedge funds and other institutional investors.

Axcelis Technologies Company Profile

(Get Rating)

Axcelis Technologies, Inc engages in the manufacture of capital equipment for the semiconductor chip manufacturing industry. It ion implantation systems product line includes high and medium current, and energy implanters. It also offers post-sales equipment service and support, such as spare parts, equipment upgrades, used equipment, maintenance services, and customer training.