Axcelis Technologies (NASDAQ:ACLS) Price Target Lowered to $175.00 at Benchmark

Axcelis Technologies (NASDAQ:ACLS) had its price target decreased by Benchmark from $180.00 to $175.00 in a research report report published on Friday, Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on ACLS. B. Riley cut their price target on shares of Axcelis Technologies from $190.00 to $165.00 and set a buy rating on the stock in a report on Friday. Bank of America increased their target price on shares of Axcelis Technologies from $125.00 to $150.00 and gave the stock a neutral rating in a report on Wednesday, July 10th. Craig Hallum increased their target price on shares of Axcelis Technologies from $130.00 to $174.00 and gave the stock a buy rating in a report on Friday, July 12th. Needham & Company LLC reiterated a hold rating on shares of Axcelis Technologies in a report on Friday. Finally, DA Davidson increased their target price on shares of Axcelis Technologies from $150.00 to $175.00 and gave the stock a buy rating in a report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Axcelis Technologies has a consensus rating of Moderate Buy and an average price target of $167.33.

Axcelis Technologies Price Performance

ACLS stock opened at $109.28 on Friday. Axcelis Technologies has a one year low of $93.77 and a one year high of $196.03. The company’s fifty day moving average price is $132.03 and its 200-day moving average price is $120.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.87 and a current ratio of 4.42. The company has a market capitalization of $3.55 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.18. The company had revenue of $256.51 million for 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 27.35%. Axcelis Technologies’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share. On average, equities analysts anticipate that Axcelis Technologies will post 6.76 EPS for the current fiscal year.

Insider Buying and Selling at Axcelis Technologies

In other Axcelis Technologies 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 transaction of $137,304.00. Following the completion of the sale, the director now directly 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 accessible through this link. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Axcelis Technologies

Several hedge funds and other institutional investors have recently modified their holdings of ACLS. Norges Bank purchased a new position in shares of Axcelis Technologies in the 4th quarter valued at approximately $57,105,000. Reinhart Partners LLC. acquired a new stake in Axcelis Technologies in the 1st quarter valued at $37,871,000. Jackson Square Partners LLC purchased a new position in Axcelis Technologies in the 4th quarter valued at $42,892,000. Vanguard Group Inc. lifted its holdings in Axcelis Technologies by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock valued at $480,040,000 after purchasing an additional 263,604 shares in the last quarter. Finally, Boston Partners purchased a new position in Axcelis Technologies in the 1st quarter valued at $20,819,000. 89.98% 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 Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.