Axcelis Technologies (NASDAQ:ACLS) Coverage Initiated at Bank of America

Bank of America started coverage on shares of Axcelis Technologies (NASDAQ:ACLS) in a report issued on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $225.00 price target on the semiconductor company’s stock. Bank of America‘s target price would suggest a potential upside of 34.51% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. StockNews.com assumed coverage on Axcelis Technologies in a report on Thursday, August 17th. They issued a “hold” rating for the company. Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Axcelis Technologies in a report on Wednesday, September 6th. William Blair started coverage on Axcelis Technologies in a research report on Monday, June 5th. They issued an “outperform” rating for the company. B. Riley Financial upped their target price on Axcelis Technologies from $165.00 to $225.00 in a research report on Monday, July 17th. Finally, B. Riley upped their target price on Axcelis Technologies from $165.00 to $225.00 in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.50.

Axcelis Technologies Stock Down 6.5 %

NASDAQ:ACLS opened at $167.27 on Friday. The firm has a market capitalization of $5.49 billion, a PE ratio of 26.94 and a beta of 1.74. The stock has a 50 day moving average of $179.27 and a 200-day moving average of $155.30. Axcelis Technologies has a 52 week low of $49.78 and a 52 week high of $201.00. The company has a current ratio of 3.82, a quick ratio of 2.62 and a debt-to-equity ratio of 0.06.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.40. Axcelis Technologies had a return on equity of 30.29% and a net margin of 20.19%. The business had revenue of $273.97 million during the quarter, compared to analyst estimates of $256.68 million. During the same period in the prior year, the company posted $1.32 EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. Analysts predict that Axcelis Technologies will post 6.99 EPS for the current year.

Insider Activity

In other news, EVP Douglas A. Lawson sold 375 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $177.45, for a total transaction of $66,543.75. Following the completion of the sale, the executive vice president now owns 18,342 shares in the company, valued at approximately $3,254,787.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Greg Redinbo sold 600 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $180.18, for a total value of $108,108.00. Following the completion of the sale, the executive vice president now owns 17,203 shares in the company, valued at $3,099,636.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Douglas A. Lawson sold 375 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $177.45, for a total value of $66,543.75. Following the completion of the sale, the executive vice president now owns 18,342 shares of the company’s stock, valued at approximately $3,254,787.90. The disclosure for this sale can be found here. Insiders own 1.43% of the company’s stock.

Institutional Trading of Axcelis Technologies

Hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. lifted its holdings in shares of Axcelis Technologies by 13.4% in the first quarter. Panagora Asset Management Inc. now owns 22,012 shares of the semiconductor company’s stock valued at $2,933,000 after purchasing an additional 2,603 shares in the last quarter. Kovack Advisors Inc. acquired a new position in shares of Axcelis Technologies in the first quarter worth $217,000. Natixis Advisors L.P. increased its stake in shares of Axcelis Technologies by 4.6% in the first quarter. Natixis Advisors L.P. now owns 14,640 shares of the semiconductor company’s stock worth $1,951,000 after acquiring an additional 650 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Axcelis Technologies in the first quarter worth $1,529,000. Finally, Shelton Capital Management acquired a new position in shares of Axcelis Technologies in the first quarter worth $257,000. Hedge funds and other institutional investors own 88.93% of the company’s stock.

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.