B. Riley Trims Axcelis Technologies (NASDAQ:ACLS) Target Price to $165.00

Axcelis Technologies (NASDAQ:ACLS) had its price target cut by investment analysts at B. Riley from $190.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target indicates a potential upside of 55.46% from the company’s previous close.

Other research analysts have also issued reports about the company. DA Davidson upped their price objective on Axcelis Technologies from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 15th. Bank of America raised their price target on shares of Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Craig Hallum boosted their price objective 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. Benchmark raised their target price 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.17.

Axcelis Technologies Stock Performance

Axcelis Technologies stock traded down $6.68 during mid-day trading on Friday, hitting $106.14. 636,999 shares of the company’s stock traded hands, compared to its average volume of 636,168. Axcelis Technologies has a fifty-two week low of $93.77 and a fifty-two week high of $196.03. The stock 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. The firm has a 50 day simple moving average of $132.13 and a two-hundred day simple moving average of $120.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.87.

Axcelis Technologies (NASDAQ:ACLS) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.37 by $0.18. The business had revenue of $256.51 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 EPS. On average, research analysts expect that Axcelis Technologies will post 6.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,200 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $114.42, for a total transaction of $137,304.00. Following the completion of the transaction, the director now owns 33,146 shares of the company’s stock, valued at $3,792,565.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axcelis Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ACLS. Raymond James Financial Services Advisors Inc. grew its stake in shares of Axcelis Technologies by 11.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,191 shares of the semiconductor company’s stock worth $544,000 after buying an additional 440 shares during the last quarter. Blue Trust Inc. raised its position in Axcelis Technologies by 100.7% in the fourth quarter. Blue Trust Inc. now owns 305 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 153 shares during the last quarter. Global Retirement Partners LLC boosted its stake 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 purchasing an additional 297 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Axcelis Technologies by 627.9% in the fourth quarter. Private Trust Co. NA now owns 313 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 270 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Axcelis Technologies by 102.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 5,093 shares of the semiconductor company’s stock worth $674,000 after buying an additional 2,575 shares during the period. 89.98% of the stock is owned by 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 Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.