Axcelis Technologies (NASDAQ:ACLS) Upgraded by Craig Hallum to “Buy”

Craig Hallum upgraded shares of Axcelis Technologies (NASDAQ:ACLS) from a hold rating to a buy rating in a research report report published on Friday, Marketbeat reports. They currently have $130.00 price target on the semiconductor company’s stock.

Other research analysts have also recently issued reports about the company. B. Riley reduced their price target on Axcelis Technologies from $180.00 to $165.00 and set a buy rating for the company in a research report on Friday, February 9th. B. Riley Financial cut their price objective on Axcelis Technologies from $180.00 to $165.00 and set a buy rating for the company in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $169.00.

Axcelis Technologies Stock Up 4.5 %

ACLS traded up $4.81 on Friday, hitting $111.45. The company had a trading volume of 763,595 shares, compared to its average volume of 536,798. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.71 and a current ratio of 4.00. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 1.14 and a beta of 1.64. The stock has a fifty day moving average price of $107.79 and a 200-day moving average price of $121.52. Axcelis Technologies has a 12-month low of $93.77 and a 12-month high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.33. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The business had revenue of $252.37 million during the quarter, compared to the consensus estimate of $242.61 million. During the same quarter last year, the company earned $1.43 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Axcelis Technologies will post 6.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Douglas A. Lawson acquired 500 shares of the stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $111.04 per share, with a total value of $55,520.00. Following the completion of the purchase, the executive vice president now owns 19,648 shares of the company’s stock, valued at approximately $2,181,713.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axcelis Technologies

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Axcelis Technologies during the 4th quarter worth about $57,105,000. Reinhart Partners LLC. purchased a new position 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. Westfield Capital Management Co. LP purchased a new stake in shares of Axcelis Technologies during the 3rd quarter worth $40,425,000. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Axcelis Technologies during the 3rd quarter worth $28,924,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

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.