Axcelis Technologies (NASDAQ:ACLS) PT Raised to $225.00 at B. Riley Financial

Posted by on Jul 18th, 2023

Axcelis Technologies (NASDAQ:ACLS – Free Report) had its target price increased by B. Riley Financial from $165.00 to $225.00 in a research report report published on Monday morning, Stock Target Advisor reports.

Several other brokerages have also recently weighed in on ACLS. StockNews.com initiated coverage on shares of Axcelis Technologies in a research note on Thursday, May 18th. They issued a hold rating on the stock. Needham & Company LLC downgraded shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Wednesday, June 14th. William Blair started coverage on Axcelis Technologies in a report on Monday, June 5th. They issued an outperform rating on the stock. Finally, B. Riley boosted their price target on Axcelis Technologies from $165.00 to $225.00 in a report on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $166.71.

Axcelis Technologies Price Performance

Shares of NASDAQ ACLS opened at $192.27 on Monday. The firm has a market cap of $6.29 billion, a P/E ratio of 33.91 and a beta of 1.71. Axcelis Technologies has a twelve month low of $49.78 and a twelve month high of $193.61. The company has a quick ratio of 2.51, a current ratio of 3.49 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $162.52 and a 200 day moving average of $133.92.

Axcelis Technologies (NASDAQ:ACLS – Get Free Report) last posted its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.18. Axcelis Technologies had a return on equity of 29.43% and a net margin of 19.49%. The firm had revenue of $254.02 million during the quarter, compared to analysts’ expectations of $239.89 million. During the same quarter 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. As a group, research analysts expect that Axcelis Technologies will post 6.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mary G. Puma sold 11,800 shares of Axcelis Technologies stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $181.80, for a total transaction of $2,145,240.00. Following the sale, the insider now owns 263,058 shares in the company, valued at $47,823,944.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Russell Low sold 8,309 shares of Axcelis Technologies stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $130.76, for a total value of $1,086,484.84. Following the sale, the chief executive officer now directly owns 71,239 shares of the company’s stock, valued at $9,315,211.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mary G. Puma sold 11,800 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $181.80, for a total value of $2,145,240.00. Following the completion of the sale, the insider now owns 263,058 shares in the company, valued at $47,823,944.40. The disclosure for this sale can be found here. Insiders sold 123,181 shares of company stock worth $17,592,020 in the last three months. 1.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axcelis Technologies

A number of hedge funds have recently bought and sold shares of ACLS. Lincoln National Corp bought a new stake in Axcelis Technologies during the fourth quarter worth approximately $763,000. Annex Advisory Services LLC increased its position in Axcelis Technologies by 19.4% during the fourth quarter. Annex Advisory Services LLC now owns 6,877 shares of the semiconductor company’s stock valued at $546,000 after acquiring an additional 1,116 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Axcelis Technologies in the first quarter valued at $217,000. Beacon Capital Management LLC bought a new stake in shares of Axcelis Technologies in the 4th quarter worth about $56,000. Finally, D.A. Davidson & CO. boosted its stake in shares of Axcelis Technologies by 8.6% during the 4th quarter. D.A. Davidson & CO. now owns 3,800 shares of the semiconductor company’s stock worth $302,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

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.

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