Axcelis Technologies (NASDAQ:ACLS) Hits New 12-Month High After Analyst Upgrade

Posted by Defense World Staff on Jul 18th, 2023

Axcelis Technologies, Inc. (NASDAQ:ACLS – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Monday after B. Riley Financial raised their price target on the stock from $165.00 to $225.00. The company traded as high as $186.82 and last traded at $184.65, with a volume of 68055 shares changing hands. The stock had previously closed at $179.85.

ACLS has been the topic of a number of other research reports. B. Riley lifted their target price on Axcelis Technologies from $165.00 to $225.00 in a research report on Monday. William Blair began coverage on Axcelis Technologies in a report on Monday, June 5th. They set an “outperform” rating for the company. StockNews.com began coverage on Axcelis Technologies in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Needham & Company LLC cut Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.71.

Insider Transactions at Axcelis Technologies

In other news, EVP Douglas A. Lawson sold 200 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $153.00, for a total transaction of $30,600.00. Following the completion of the sale, the executive vice president now owns 19,117 shares in the company, valued at $2,924,901. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Tzu Yin Chiu sold 10,000 shares of Axcelis Technologies stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $118.50, for a total value of $1,185,000.00. Following the completion of the sale, the director now directly owns 18,873 shares in the company, valued at $2,236,450.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Douglas A. Lawson sold 200 shares of Axcelis Technologies stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $153.00, for a total transaction of $30,600.00. Following the completion of the sale, the executive vice president now owns 19,117 shares of the company’s stock, valued at $2,924,901. The disclosure for this sale can be found here. Insiders sold a total of 123,181 shares of company stock worth $17,592,020 over the last quarter. Company insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Axcelis Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cranbrook Wealth Management LLC acquired a new stake in shares of Axcelis Technologies in the second quarter valued at approximately $265,000. First Trust Direct Indexing L.P. acquired a new stake in shares of Axcelis Technologies in the second quarter valued at approximately $204,000. Pacer Advisors Inc. acquired a new stake in shares of Axcelis Technologies in the second quarter valued at approximately $82,000. BTC Capital Management Inc. acquired a new stake in shares of Axcelis Technologies in the second quarter valued at approximately $6,016,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Axcelis Technologies in the second quarter valued at approximately $237,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Axcelis Technologies Trading Up 6.9 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 3.49 and a quick ratio of 2.51. The business’s 50-day moving average price is $162.52 and its two-hundred day moving average price is $133.92. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 33.91 and a beta of 1.71.

Axcelis Technologies (NASDAQ:ACLS – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.25 by $0.18. Axcelis Technologies had a net margin of 19.49% and a return on equity of 29.43%. The business had revenue of $254.02 million during the quarter, compared to the consensus estimate of $239.89 million. During the same period in the previous year, the business earned $1.22 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Research analysts predict that Axcelis Technologies, Inc. will post 6.47 earnings per share for the current year.

Axcelis Technologies Company Profile

(Get Free Report)

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.