Axcelis Technologies (NASDAQ:ACLS – Get Free Report) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.380- for the period, compared to the consensus EPS estimate of 1.300. The company issued revenue guidance of $252.0 million-, compared to the consensus revenue estimate of $244.7 million. Axcelis Technologies also updated its Q2 guidance to above $1.38 EPS.
Wall Street Analyst Weigh In
ACLS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a hold rating on shares of Axcelis Technologies in a report on Friday, May 3rd. Craig Hallum upgraded shares of 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. B. Riley increased their price target on shares of Axcelis Technologies from $155.00 to $175.00 and gave the company a buy rating in a research note on Thursday, June 20th. Bank of America boosted their price objective on shares of Axcelis Technologies from $125.00 to $150.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Benchmark decreased their price objective on Axcelis Technologies from $180.00 to $170.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $158.00.
Check Out Our Latest Report on ACLS
Axcelis Technologies Price Performance
Axcelis Technologies (NASDAQ:ACLS – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.31. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The company had revenue of $252.37 million during the quarter, compared to analysts’ expectations of $242.55 million. Sell-side analysts predict that Axcelis Technologies will post 6.41 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director John T. Kurtzweil sold 1,200 shares of the business’s 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 transaction, the director now directly owns 33,146 shares in the company, valued at approximately $3,792,565.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by corporate insiders.
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.
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