Axcelis Technologies (NASDAQ:ACLS) Given New $150.00 Price Target at Bank of America

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

A number of other brokerages also recently weighed in on ACLS. Benchmark lowered their price objective on shares of Axcelis Technologies from $180.00 to $170.00 and set a buy rating for the company in a research report on Friday, May 3rd. B. Riley upped their target price on Axcelis Technologies from $155.00 to $175.00 and gave the company a buy rating in a report on Thursday, June 20th. Needham & Company LLC restated a hold rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. Finally, Craig Hallum raised Axcelis Technologies from a hold rating to a buy rating and set a $130.00 target price on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $169.80.

Axcelis Technologies Trading Up 2.9 %

Shares of NASDAQ ACLS opened at $148.74 on Wednesday. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $127.38 and its two-hundred day moving average price is $119.70. Axcelis Technologies has a 52-week low of $93.77 and a 52-week high of $201.00. The stock has a market capitalization of $4.84 billion, a P/E ratio of 19.65, a PEG ratio of 2.94 and a beta of 1.60.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $242.55 million. On average, analysts anticipate that Axcelis Technologies will post 6.48 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John T. Kurtzweil sold 1,200 shares of the stock in a transaction dated 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 transaction, the director now owns 33,146 shares in the company, valued at approximately $3,792,565.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

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