Axcelis Technologies (NASDAQ:ACLS) Announces Earnings Results, Beats Expectations By $0.18 EPS

Axcelis Technologies (NASDAQ:ACLS) posted its quarterly earnings results on Wednesday. The semiconductor company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.37 by $0.18, Briefing.com reports. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The firm had revenue of $256.51 million for the quarter, compared to analyst estimates of $250.06 million. During the same quarter last year, the firm posted $1.86 earnings per share. Axcelis Technologies’s revenue for the quarter was down 6.4% compared to the same quarter last year. Axcelis Technologies updated its Q3 2024 guidance to 1.430-1.430 EPS.

Axcelis Technologies Stock Down 10.7 %

Shares of NASDAQ:ACLS traded down $13.53 during trading on Thursday, hitting $112.82. The company’s stock had a trading volume of 1,937,855 shares, compared to its average volume of 636,158. The company has a market capitalization of $3.67 billion, a PE ratio of 14.90, a PEG ratio of 1.69 and a beta of 1.60. Axcelis Technologies has a fifty-two week low of $93.77 and a fifty-two week high of $196.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.87 and a current ratio of 4.00. The stock’s 50-day moving average price is $132.06 and its two-hundred day moving average price is $120.37.

Insider Buying and Selling at Axcelis Technologies

In related news, Director John T. Kurtzweil sold 1,200 shares of Axcelis Technologies stock in a transaction on Monday, May 20th. The shares were sold at an average price of $114.42, for a total value of $137,304.00. Following the completion of the sale, the director now owns 33,146 shares in the company, valued at $3,792,565.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACLS. DA Davidson lifted their target price on shares of Axcelis Technologies from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 15th. B. Riley boosted their price objective on Axcelis Technologies from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Craig Hallum increased their target price on Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a report on Friday, July 12th. Finally, Bank of America upped their price target on Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $172.33.

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.