B. Riley Lowers Axcelis Technologies (NASDAQ:ACLS) Price Target to $155.00

Axcelis Technologies (NASDAQ:ACLS) had its target price lowered by B. Riley from $165.00 to $155.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Axcelis Technologies’ Q2 2024 earnings at $1.30 EPS, FY2024 earnings at $6.68 EPS and Q4 2025 earnings at $2.07 EPS.

A number of other research firms also recently weighed in on ACLS. B. Riley Financial dropped their price target on Axcelis Technologies from $180.00 to $165.00 and set a buy rating on the stock in a research note on Friday, February 9th. Craig Hallum raised Axcelis Technologies from a hold rating to a buy rating and set a $130.00 price objective for the company in a report on Friday. Finally, Needham & Company LLC reissued a hold rating on shares of Axcelis Technologies in a report on Friday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $169.00.

Axcelis Technologies Trading Up 4.5 %

NASDAQ ACLS traded up $4.81 during trading hours on Friday, reaching $111.45. The company’s stock had a trading volume of 763,595 shares, compared to its average volume of 536,798. The firm has a fifty day simple moving average of $107.79 and a 200-day simple moving average of $121.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.71. Axcelis Technologies has a 52 week low of $93.77 and a 52 week high of $201.00. The stock has a market cap of $3.63 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.14 and a beta of 1.64.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.33. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The business had revenue of $252.37 million during the quarter, compared to analyst estimates of $242.61 million. During the same period in the previous year, the company posted $1.43 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Equities analysts forecast that Axcelis Technologies will post 6.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Douglas A. Lawson purchased 500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $111.04 per share, for a total transaction of $55,520.00. Following the completion of the transaction, the executive vice president now directly owns 19,648 shares in the company, valued at approximately $2,181,713.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.43% of the company’s stock.

Institutional Trading of Axcelis Technologies

A number of large investors have recently modified their holdings of ACLS. Norges Bank bought a new stake in shares of Axcelis Technologies during the 4th quarter valued at about $57,105,000. Reinhart Partners LLC. bought a new stake in shares of Axcelis Technologies during the 1st quarter valued at about $37,871,000. Jackson Square Partners LLC bought a new stake in shares of Axcelis Technologies during the 4th quarter valued at about $42,892,000. Westfield Capital Management Co. LP bought a new stake in shares of Axcelis Technologies during the 3rd quarter valued at about $40,425,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Axcelis Technologies during the 3rd quarter valued at about $28,924,000. 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.