Axcelis Technologies (NASDAQ:ACLS) Updates Q2 Earnings Guidance

Axcelis Technologies (NASDAQ:ACLS) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of above $1.38 for the period, compared to the consensus earnings per share estimate of $1.30. The company issued revenue guidance of above $252 million, compared to the consensus revenue estimate of $244.68 million. Axcelis Technologies also updated its Q2 2024 guidance to 1.380- EPS.

Analyst Upgrades and Downgrades

ACLS has been the topic of a number of recent research reports. Needham & Company LLC reissued a hold rating on shares of Axcelis Technologies in a research note on Friday, May 3rd. Bank of America boosted their price target on shares of Axcelis Technologies from $125.00 to $150.00 and gave the company a neutral rating in a research report on Wednesday. Benchmark cut their price objective on shares of Axcelis Technologies from $180.00 to $170.00 and set a buy rating for the company in a research report on Friday, May 3rd. B. Riley boosted their target price on shares of Axcelis Technologies from $155.00 to $175.00 and gave the company a buy rating in a report on Thursday, June 20th. Finally, Craig Hallum raised shares of Axcelis Technologies from a hold rating to a buy rating and set a $130.00 price target for the company in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $158.00.

Axcelis Technologies Trading Up 2.6 %

NASDAQ ACLS opened at $155.02 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.87. The stock has a market capitalization of $5.04 billion, a P/E ratio of 20.48, a PEG ratio of 3.48 and a beta of 1.60. The firm’s 50-day moving average is $125.88 and its two-hundred day moving average is $119.42. Axcelis Technologies has a 12 month low of $93.77 and a 12 month high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.31. The business had revenue of $252.37 million for the quarter, compared to the consensus estimate of $242.55 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. On average, sell-side analysts anticipate that Axcelis Technologies will post 6.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John T. Kurtzweil sold 1,200 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $114.42, for a total value of $137,304.00. Following the sale, the director now owns 33,146 shares in the company, valued at approximately $3,792,565.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.14% of the stock is owned by insiders.

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.