Axcelis Technologies (NASDAQ:ACLS) Updates Q4 2024 Earnings Guidance

Axcelis Technologies (NASDAQ:ACLS) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.250-1.250 for the period, compared to the consensus EPS estimate of 1.520. The company issued revenue guidance of $245.0 million-$245.0 million, compared to the consensus revenue estimate of $262.1 million.

Axcelis Technologies Stock Down 2.3 %

Shares of ACLS traded down $2.02 during midday trading on Friday, reaching $85.08. 935,682 shares of the stock were exchanged, compared to its average volume of 630,446. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 2.57 and a beta of 1.60. The company has a quick ratio of 3.26, a current ratio of 4.42 and a debt-to-equity ratio of 0.05. Axcelis Technologies has a 12-month low of $81.47 and a 12-month high of $158.61. The firm has a 50 day simple moving average of $96.91 and a 200-day simple moving average of $113.14.

Wall Street Analysts Forecast Growth

ACLS has been the subject of several recent research reports. Benchmark downgraded shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a report on Friday. Craig Hallum raised their price target on Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, July 12th. B. Riley cut their price objective on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, DA Davidson upped their price target on Axcelis Technologies from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.33.

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.