Wall Street Zen Upgrades Axcelis Technologies (NASDAQ:ACLS) to “Buy”

Axcelis Technologies (NASDAQ:ACLS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other research firms have also recently weighed in on ACLS. Bank of America cut Axcelis Technologies from a “neutral” rating to an “underperform” rating and raised their price target for the company from $81.00 to $90.00 in a research note on Monday, October 13th. DA Davidson raised their price target on Axcelis Technologies from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Zacks Research cut Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Benchmark upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Thursday, October 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Axcelis Technologies in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.00.

Axcelis Technologies Stock Down 2.8%

NASDAQ:ACLS opened at $79.56 on Friday. The company has a quick ratio of 4.26, a current ratio of 6.01 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $86.07 and its two-hundred day moving average is $72.98. Axcelis Technologies has a 52 week low of $40.40 and a 52 week high of $102.93. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 16.27 and a beta of 1.75.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Monday, April 21st. The semiconductor company reported $1.71 earnings per share (EPS) for the quarter. The company had revenue of $252.42 million for the quarter. Axcelis Technologies had a return on equity of 16.26% and a net margin of 17.69%. Research analysts anticipate that Axcelis Technologies will post 2.55 EPS for the current year.

Hedge Funds Weigh In On Axcelis Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in ACLS. Salomon & Ludwin LLC acquired a new stake in Axcelis Technologies in the third quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Axcelis Technologies by 145.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 451 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 267 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Axcelis Technologies by 50.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 481 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 161 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Axcelis Technologies in the 1st quarter valued at approximately $38,000. Finally, Parallel Advisors LLC lifted its stake in Axcelis Technologies by 129.0% in the 2nd quarter. Parallel Advisors LLC now owns 545 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 307 shares in the last quarter. 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.