Axcelis Technologies (NASDAQ:ACLS) Price Target Raised to $42.00 at Craig Hallum


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Axcelis Technologies (NASDAQ:ACLS) had its price target hoisted by Craig Hallum from $32.00 to $42.00 in a report issued on Wednesday morning, The Fly reports. They currently have a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus raised Axcelis Technologies from a hold rating to a buy rating and set a $26.00 price target on the stock in a research report on Sunday, September 20th. B. Riley raised their price target on Axcelis Technologies from $37.00 to $40.00 and gave the company a buy rating in a report on Friday, December 11th. Finally, Zacks Investment Research cut Axcelis Technologies from a hold rating to a sell rating in a report on Monday. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $35.86.

Shares of NASDAQ:ACLS traded up $0.88 during midday trading on Wednesday, hitting $38.06. 11,853 shares of the stock were exchanged, compared to its average volume of 575,592. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 27.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.98 and a current ratio of 6.28. The business’s 50-day moving average price is $29.06 and its 200 day moving average price is $26.00. Axcelis Technologies has a 12 month low of $12.99 and a 12 month high of $37.64.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Tuesday, November 10th. The semiconductor company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $107.50 million. Axcelis Technologies had a return on equity of 10.28% and a net margin of 9.79%. The firm’s quarterly revenue was up 58.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, sell-side analysts expect that Axcelis Technologies will post 1.25 EPS for the current year.

In other Axcelis Technologies news, VP Lynnette C. Fallon sold 28,648 shares of the business’s stock in a transaction dated Tuesday, November 17th. The stock was sold at an average price of $26.00, for a total transaction of $744,848.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Kurtzweil sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $27.52, for a total value of $82,560.00. Following the sale, the director now directly owns 34,439 shares of the company’s stock, valued at approximately $947,761.28. The disclosure for this sale can be found here. Insiders sold 50,148 shares of company stock valued at $1,334,863 in the last ninety days. 2.93% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ACLS. Royce & Associates LP grew its stake in Axcelis Technologies by 45.4% in the third quarter. Royce & Associates LP now owns 971,416 shares of the semiconductor company’s stock worth $21,371,000 after purchasing an additional 303,400 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Axcelis Technologies by 61.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 454,187 shares of the semiconductor company’s stock worth $12,649,000 after purchasing an additional 173,496 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Axcelis Technologies by 5.9% in the second quarter. Vanguard Group Inc. now owns 2,271,676 shares of the semiconductor company’s stock worth $63,267,000 after acquiring an additional 127,317 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Axcelis Technologies by 77.5% in the second quarter. Goldman Sachs Group Inc. now owns 243,653 shares of the semiconductor company’s stock worth $6,786,000 after acquiring an additional 106,397 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Axcelis Technologies by 59,893.1% in the third quarter. Federated Hermes Inc. now owns 95,989 shares of the semiconductor company’s stock worth $2,112,000 after acquiring an additional 95,829 shares in the last quarter. 83.38% of the stock is 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. The company offers high energy, high current, and medium current implanters for various application requirements.

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The Fly

Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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