Axcelis Technologies (NASDAQ:ACLS) Cut to Hold at Zacks Investment Research


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Zacks Investment Research cut shares of Axcelis Technologies (NASDAQ:ACLS) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “

Several other equities analysts have also weighed in on the stock. Benchmark lifted their target price on shares of Axcelis Technologies from $33.00 to $38.00 in a report on Wednesday, January 13th. Needham & Company LLC lifted their price target on shares of Axcelis Technologies from $37.00 to $42.00 and gave the stock a buy rating in a research note on Thursday, January 21st. Craig Hallum lifted their price target on shares of Axcelis Technologies from $32.00 to $42.00 and gave the stock a buy rating in a research note on Wednesday, January 13th. Finally, B. Riley lifted their price target on shares of Axcelis Technologies from $58.00 to $62.00 and gave the stock a buy rating in a research note on Monday, April 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Axcelis Technologies has an average rating of Buy and an average target price of $41.86.

NASDAQ:ACLS opened at $42.66 on Wednesday. The company has a current ratio of 6.28, a quick ratio of 3.98 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 32.08 and a beta of 1.42. The firm’s fifty day simple moving average is $40.63 and its 200 day simple moving average is $32.40. Axcelis Technologies has a twelve month low of $19.86 and a twelve month high of $50.21.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Tuesday, February 9th. The semiconductor company reported $0.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $122.20 million for the quarter, compared to analyst estimates of $105.74 million. Axcelis Technologies had a net margin of 9.79% and a return on equity of 10.28%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. On average, analysts predict that Axcelis Technologies will post 1.32 earnings per share for the current year.

In other Axcelis Technologies news, Director R John Fletcher sold 6,881 shares of the business’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $39.00, for a total transaction of $268,359.00. Following the completion of the transaction, the director now directly owns 1,354 shares of the company’s stock, valued at approximately $52,806. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lynnette C. Fallon sold 10,529 shares of the business’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $39.27, for a total transaction of $413,473.83. The disclosure for this sale can be found here. Insiders sold a total of 134,785 shares of company stock valued at $5,285,514 over the last ninety days. Company insiders own 2.93% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its stake in Axcelis Technologies by 30.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,008 shares of the semiconductor company’s stock valued at $87,000 after purchasing an additional 694 shares during the period. Signet Investment Advisory Group Inc. acquired a new stake in shares of Axcelis Technologies in the 4th quarter worth approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Axcelis Technologies by 44.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,917 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 1,515 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of Axcelis Technologies in the 1st quarter worth approximately $228,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Axcelis Technologies in the 1st quarter worth approximately $324,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

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. The company offers high energy, high current, and medium current implanters for various application requirements.

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