Axcelis Technologies Inc (NASDAQ:ACLS) Given Consensus Rating of “Buy” by Brokerages

Shares of Axcelis Technologies Inc (NASDAQ:ACLS) have been assigned an average rating of “Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $31.00.

ACLS has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Friday, August 7th. BidaskClub upgraded shares of Axcelis Technologies from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley upgraded shares of Axcelis Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $27.00 to $32.00 in a research report on Tuesday, May 26th. Benchmark upped their price objective on shares of Axcelis Technologies from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, ValuEngine cut shares of Axcelis Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, September 3rd.

Shares of NASDAQ:ACLS traded down $1.09 during midday trading on Wednesday, hitting $21.72. The stock had a trading volume of 452,879 shares, compared to its average volume of 361,701. The company’s 50-day moving average price is $24.36 and its 200-day moving average price is $24.16. The company has a market capitalization of $726.86 million, a P/E ratio of 22.15 and a beta of 1.37. The company has a quick ratio of 3.13, a current ratio of 4.85 and a debt-to-equity ratio of 0.11. Axcelis Technologies has a fifty-two week low of $12.99 and a fifty-two week high of $31.50.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Tuesday, August 4th. The semiconductor company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.26 by $0.13. The company had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $101.83 million. Axcelis Technologies had a net margin of 8.34% and a return on equity of 8.22%. The business’s revenue for the quarter was up 65.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 EPS. Research analysts expect that Axcelis Technologies will post 1.17 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in ACLS. Wellington Management Group LLP increased its position in Axcelis Technologies by 31.3% in the 1st quarter. Wellington Management Group LLP now owns 2,387,791 shares of the semiconductor company’s stock valued at $43,720,000 after acquiring an additional 569,734 shares during the period. Russell Investments Group Ltd. boosted its stake in Axcelis Technologies by 39.9% during the second quarter. Russell Investments Group Ltd. now owns 1,513,102 shares of the semiconductor company’s stock worth $42,128,000 after acquiring an additional 431,544 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Axcelis Technologies during the second quarter worth $5,862,000. Nuveen Asset Management LLC boosted its stake in Axcelis Technologies by 61.8% during the second quarter. Nuveen Asset Management LLC now owns 454,187 shares of the semiconductor company’s stock worth $12,649,000 after acquiring an additional 173,496 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new position in Axcelis Technologies during the second quarter worth $3,952,000. Hedge funds and other institutional investors own 83.64% 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 worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides curing systems and thermal processing systems.

Read More: What is the Nikkei 225 index?    

Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

Receive News & Ratings for Axcelis Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axcelis Technologies and related companies with MarketBeat.com's FREE daily email newsletter.