Axcelis Technologies (NASDAQ:ACLS) Announces Quarterly Earnings Results

Axcelis Technologies (NASDAQ:ACLS) announced its quarterly earnings data on Thursday. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17, FiscalAI reports. The company had revenue of $215.18 million during the quarter, compared to analysts’ expectations of $205.03 million. Axcelis Technologies had a net margin of 11.93% and a return on equity of 12.19%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 EPS. Axcelis Technologies updated its Q3 2026 guidance to 1.110-1.110 EPS.

Here are the key takeaways from Axcelis Technologies’ conference call:

• Second-quarter results exceeded expectations, with revenue of $215 million and adjusted EPS of $1.06. CS&I strength, improved power demand, and operational execution supported the outperformance.
• Management raised its 2026 outlook to approximately mid-single-digit revenue growth, compared with its prior expectation for flat revenue, and expects fourth-quarter revenue to increase sequentially. The company also anticipates another year of revenue growth in 2027.
• Memory demand remains robust despite quarter-to-quarter lumpiness, with strong DRAM and high-bandwidth memory investment expected to drive momentum into 2027. Axcelis is expanding its memory customer base, including additional orders from a leading North American memory manufacturer.
• Power markets are recovering, with strength in both silicon carbide and silicon applications. Secular opportunities include electric vehicles, 800-volt data-center infrastructure, industrial applications, and next-generation high-energy implant technologies.
• The pending Veeco merger remains subject to outstanding regulatory requirements, including approval in China, and is still expected to close in the second half of 2026. Management declined to answer transaction-related questions.

Axcelis Technologies Trading Down 0.0%

Shares of ACLS opened at $136.66 on Friday. The stock’s fifty day simple moving average is $152.66 and its 200-day simple moving average is $124.21. The firm has a market capitalization of $4.20 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 9.68 and a beta of 1.92. Axcelis Technologies has a 12-month low of $73.60 and a 12-month high of $193.78. The company has a quick ratio of 2.99, a current ratio of 4.59 and a debt-to-equity ratio of 0.04.

Wall Street Analyst Weigh In

ACLS has been the subject of several recent research reports. Bank of America increased their price target on shares of Axcelis Technologies from $130.00 to $156.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 23rd. B. Riley Financial raised shares of Axcelis Technologies from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a report on Monday, April 20th. Weiss Ratings downgraded shares of Axcelis Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Axcelis Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Axcelis Technologies presently has a consensus rating of “Hold” and an average target price of $130.25.

Insider Transactions at Axcelis Technologies

In other Axcelis Technologies news, EVP Christopher Tatnall sold 1,166 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $149.75, for a total transaction of $174,608.50. Following the completion of the sale, the executive vice president directly owned 27,627 shares of the company’s stock, valued at approximately $4,137,143.25. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eileen Evans sold 926 shares of Axcelis Technologies stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $155.51, for a total transaction of $144,002.26. Following the sale, the executive vice president owned 31,295 shares of the company’s stock, valued at approximately $4,866,685.45. This represents a 2.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,083 shares of company stock valued at $4,001,032. 0.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axcelis Technologies

Several hedge funds have recently bought and sold shares of ACLS. Victory Capital Management Inc. boosted its position in Axcelis Technologies by 85.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,807,404 shares of the semiconductor company’s stock worth $145,207,000 after acquiring an additional 835,242 shares during the last quarter. Invesco Ltd. grew its stake in shares of Axcelis Technologies by 176.6% during the 3rd quarter. Invesco Ltd. now owns 386,735 shares of the semiconductor company’s stock worth $37,761,000 after acquiring an additional 246,939 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Axcelis Technologies by 10,368.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 243,503 shares of the semiconductor company’s stock valued at $19,563,000 after purchasing an additional 241,177 shares during the last quarter. Millennium Management LLC lifted its position in shares of Axcelis Technologies by 143.8% in the third quarter. Millennium Management LLC now owns 261,776 shares of the semiconductor company’s stock worth $25,560,000 after purchasing an additional 154,381 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Axcelis Technologies by 27.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 629,814 shares of the semiconductor company’s stock worth $50,599,000 after purchasing an additional 135,039 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

About Axcelis Technologies

Axcelis Technologies, Inc is a leading developer and manufacturer of ion implantation and cleaning equipment used in the fabrication of semiconductor chips. The company specializes in high-current, medium-current and high-energy ion implantation systems, which are critical for introducing precisely controlled dopants into silicon wafers. Axcelis also offers plasma-based cleaning and dry strip tools that support advanced process nodes in logic, memory and power device manufacturing.

The company’s product portfolio encompasses single-wafer and multi-wafer cluster tools designed to deliver high throughput, accuracy and uniformity for semiconductor process steps.