Analysts Set Axcelis Technologies, Inc. (NASDAQ:ACLS) Target Price at $189.00

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) have received an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $189.00.

ACLS has been the topic of several research reports. B. Riley Financial dropped their price objective on shares of Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. B. Riley dropped their price target on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 9th.

Axcelis Technologies Stock Down 0.0 %

ACLS stock opened at $104.32 on Wednesday. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.23 and a beta of 1.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.71 and a current ratio of 3.79. The business’s 50 day moving average price is $112.13 and its two-hundred day moving average price is $126.50. Axcelis Technologies has a fifty-two week low of $102.36 and a fifty-two week high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.17. Axcelis Technologies had a return on equity of 31.66% and a net margin of 21.78%. The company had revenue of $310.29 million for the quarter, compared to analysts’ expectations of $297.92 million. During the same period in the prior year, the firm earned $1.71 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts forecast that Axcelis Technologies will post 6.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Douglas A. Lawson purchased 500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $111.04 per share, for a total transaction of $55,520.00. Following the completion of the acquisition, the executive vice president now directly owns 19,648 shares in the company, valued at approximately $2,181,713.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACLS. JPMorgan Chase & Co. increased its holdings in Axcelis Technologies by 24.8% in the 1st quarter. JPMorgan Chase & Co. now owns 55,943 shares of the semiconductor company’s stock worth $4,226,000 after buying an additional 11,111 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Axcelis Technologies by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 332,749 shares of the semiconductor company’s stock valued at $25,133,000 after acquiring an additional 2,067 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Axcelis Technologies in the first quarter worth approximately $624,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Axcelis Technologies by 89.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,882 shares of the semiconductor company’s stock valued at $595,000 after purchasing an additional 3,728 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Axcelis Technologies by 10.9% during the first quarter. Citigroup Inc. now owns 35,302 shares of the semiconductor company’s stock valued at $2,666,000 after purchasing an additional 3,484 shares during the period. 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.