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

Axcelis Technologies (NASDAQ:ACLS) had its price objective reduced by equities researchers at B. Riley from $165.00 to $155.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target indicates a potential upside of 39.08% from the stock’s previous close. 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 analysts have also recently commented on the stock. B. Riley Financial lowered their target price on shares of Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Friday. Finally, Craig Hallum upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.00.

Axcelis Technologies Price Performance

ACLS opened at $111.45 on Friday. The business’s 50-day moving average is $107.79 and its two-hundred day moving average is $121.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.71. Axcelis Technologies has a 1 year low of $93.77 and a 1 year high of $201.00. The firm has a market capitalization of $3.63 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.14 and a beta of 1.64.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.33. The business had revenue of $252.37 million for the quarter, compared to analyst estimates of $242.61 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 earnings per share. Research analysts anticipate that Axcelis Technologies will post 6.88 earnings per share for the current fiscal year.

Insider Transactions at Axcelis Technologies

In other news, EVP Douglas A. Lawson purchased 500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Axcelis Technologies

A number of institutional investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new stake in Axcelis Technologies in the third quarter valued at approximately $28,000. Clearstead Advisors LLC acquired a new stake in Axcelis Technologies in the 3rd quarter valued at $33,000. Rakuten Securities Inc. purchased a new stake in Axcelis Technologies in the 4th quarter worth $27,000. C M Bidwell & Associates Ltd. acquired a new position in Axcelis Technologies during the third quarter worth $34,000. Finally, GAMMA Investing LLC grew its position in shares of Axcelis Technologies by 109.4% in 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 period. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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.