Axcelis Technologies (NASDAQ:ACLS) Releases 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, topping analysts’ consensus estimates of $1.37 by $0.18, Briefing.com reports. The company had revenue of $256.51 million for the quarter, compared to analysts’ expectations of $250.06 million. Axcelis Technologies had a net margin of 21.54% and a return on equity of 27.98%. Axcelis Technologies’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 EPS. Axcelis Technologies updated its Q3 2024 guidance to 1.430-1.430 EPS.

Axcelis Technologies Price Performance

Shares of Axcelis Technologies stock traded down $6.82 during trading on Friday, hitting $106.00. The stock had a trading volume of 724,464 shares, compared to its average volume of 636,759. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.82 and a beta of 1.61. Axcelis Technologies has a 12 month low of $93.77 and a 12 month high of $196.03. The business’s 50-day moving average is $132.13 and its 200 day moving average is $120.31. The company has a current ratio of 4.00, a quick ratio of 2.87 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ACLS shares. Benchmark lifted their price target on shares of Axcelis Technologies from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Bank of America boosted their target price on shares of Axcelis Technologies from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. DA Davidson boosted 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. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Friday. Finally, Craig Hallum boosted their target price on shares of Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $168.17.

Insider Transactions at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,200 shares of the company’s 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 transaction, the director now owns 33,146 shares of the company’s stock, valued at $3,792,565.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

About Axcelis Technologies

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.