Axcelis Technologies (NASDAQ:ACLS) Issues Quarterly Earnings Results

Axcelis Technologies (NASDAQ:ACLS) announced its quarterly earnings results on Wednesday. The semiconductor company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.24 by $0.33, Briefing.com reports. The company had revenue of $252.37 million during the quarter, compared to analyst estimates of $242.61 million. Axcelis Technologies had a return on equity of 31.66% and a net margin of 21.78%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Axcelis Technologies updated its Q2 guidance to $1.30 EPS and its Q2 2024 guidance to 1.300-1.300 EPS.

Axcelis Technologies Stock Up 0.3 %

ACLS traded up $0.33 on Thursday, reaching $102.03. The company’s stock had a trading volume of 236,125 shares, compared to its average volume of 659,298. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.64. Axcelis Technologies has a 1 year low of $93.77 and a 1 year high of $201.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.79 and a quick ratio of 2.71. The business’s 50 day moving average is $107.85 and its 200 day moving average is $121.98.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, EVP Douglas A. Lawson purchased 500 shares of Axcelis Technologies stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $111.04 per share, with a total value of $55,520.00. Following the completion of the acquisition, the executive vice president now owns 19,648 shares of the company’s stock, valued at approximately $2,181,713.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ACLS. B. Riley dropped their price target on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 9th. B. Riley Financial decreased their target price on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Axcelis Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.00.

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.