Axcelis Technologies, Inc. (ACLS) Given Average Recommendation of “Buy” by Brokerages

Axcelis Technologies, Inc. (NASDAQ:ACLS) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.67.

Several research analysts have weighed in on ACLS shares. Zacks Investment Research raised Axcelis Technologies from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, May 3rd. Wedbush boosted their price target on Axcelis Technologies from $23.00 to $27.00 in a research report on Friday, June 16th. Benchmark Co. reaffirmed a “buy” rating and set a $21.00 price target on shares of Axcelis Technologies in a research report on Monday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target (up previously from $20.00) on shares of Axcelis Technologies in a research report on Friday, May 5th. Finally, Stifel Nicolaus lowered their price target on Axcelis Technologies from $19.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, May 15th.

In other news, VP Lynnette C. Fallon sold 31,250 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $24.49, for a total transaction of $765,312.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mary G. Puma sold 187,500 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $21.05, for a total value of $3,946,875.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 608,009 shares of company stock valued at $13,254,355. Corporate insiders own 5.66% of the company’s stock.

Several institutional investors have recently bought and sold shares of ACLS. Peregrine Capital Management LLC boosted its position in Axcelis Technologies by 405.6% in the second quarter. Peregrine Capital Management LLC now owns 572,856 shares of the semiconductor company’s stock worth $12,001,000 after buying an additional 459,560 shares during the period. Bank of Montreal Can boosted its position in Axcelis Technologies by 106,193.5% in the second quarter. Bank of Montreal Can now owns 329,510 shares of the semiconductor company’s stock worth $6,902,000 after buying an additional 329,200 shares during the period. Hood River Capital Management LLC boosted its position in Axcelis Technologies by 39.9% in the first quarter. Hood River Capital Management LLC now owns 794,552 shares of the semiconductor company’s stock worth $14,938,000 after buying an additional 226,611 shares during the period. Donald Smith & CO. Inc. boosted its position in Axcelis Technologies by 6.9% in the first quarter. Donald Smith & CO. Inc. now owns 2,996,651 shares of the semiconductor company’s stock worth $56,337,000 after buying an additional 192,111 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Axcelis Technologies by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,766,009 shares of the semiconductor company’s stock worth $33,200,000 after buying an additional 163,016 shares during the period. 76.93% of the stock is owned by institutional investors.

Shares of Axcelis Technologies (NASDAQ:ACLS) traded up 0.65% during midday trading on Monday, hitting $23.15. The company had a trading volume of 137,605 shares. The firm has a market capitalization of $696.70 million, a P/E ratio of 38.91 and a beta of 1.09. Axcelis Technologies has a 12-month low of $10.43 and a 12-month high of $26.52. The firm’s 50-day moving average is $22.97 and its 200-day moving average is $18.81.

Axcelis Technologies (NASDAQ:ACLS) last announced its earnings results on Thursday, May 4th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.08. Axcelis Technologies had a return on equity of 9.19% and a net margin of 6.48%. The business had revenue of $86.90 million for the quarter, compared to analyst estimates of $80.15 million. During the same quarter last year, the firm earned $0.02 EPS. Axcelis Technologies’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, analysts predict that Axcelis Technologies will post $1.20 earnings per share for the current fiscal year.

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About Axcelis Technologies

Axcelis Technologies, Inc designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.

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