Bank of America Raises Axcelis Technologies (NASDAQ:ACLS) Price Target to $150.00

Axcelis Technologies (NASDAQ:ACLS) had its price objective increased by Bank of America from $125.00 to $150.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Other equities analysts also recently issued reports about the stock. Benchmark decreased their price objective on shares of Axcelis Technologies from $180.00 to $170.00 and set a buy rating on the stock in a report on Friday, May 3rd. Craig Hallum upgraded Axcelis Technologies from a hold rating to a buy rating and set a $130.00 price objective for the company in a research note on Friday, May 3rd. Needham & Company LLC restated a hold rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. Finally, B. Riley raised their price target on shares of Axcelis Technologies from $155.00 to $175.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $169.80.

Axcelis Technologies Price Performance

NASDAQ ACLS opened at $148.74 on Wednesday. The stock’s fifty day moving average price is $127.38 and its 200 day moving average price is $119.70. 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 4.00 and a quick ratio of 2.87. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.94 and a beta of 1.60.

Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.31. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The firm had revenue of $252.37 million during the quarter, compared to the consensus estimate of $242.55 million. As a group, equities research analysts forecast that Axcelis Technologies will post 6.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John T. Kurtzweil sold 1,200 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $114.42, for a total transaction of $137,304.00. Following the sale, the director now owns 33,146 shares of the company’s stock, valued at $3,792,565.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACLS. Rakuten Securities Inc. acquired a new stake in shares of Axcelis Technologies in the 4th quarter valued at $27,000. GAMMA Investing LLC raised its stake in Axcelis Technologies by 109.4% in the first quarter. GAMMA Investing LLC now owns 266 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 139 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Axcelis Technologies by 1,188.0% during the 4th quarter. Global Retirement Partners LLC now owns 322 shares of the semiconductor company’s stock worth $39,000 after buying an additional 297 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Axcelis Technologies by 100.7% during the 4th quarter. Blue Trust Inc. now owns 305 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 153 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Axcelis Technologies by 627.9% in the 4th quarter. Private Trust Co. NA now owns 313 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

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.