Axcelis Technologies, Inc. to Post Q2 2024 Earnings of $1.30 Per Share, DA Davidson Forecasts (NASDAQ:ACLS)

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Axcelis Technologies in a research note issued to investors on Friday, May 3rd. DA Davidson analyst T. Diffely expects that the semiconductor company will post earnings of $1.30 per share for the quarter. The consensus estimate for Axcelis Technologies’ current full-year earnings is $6.63 per share.

ACLS has been the subject of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research note on Friday, May 3rd. Benchmark cut their price target on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. B. Riley decreased their price objective on shares of Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Craig Hallum raised 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. Finally, B. Riley Financial reduced their target price on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Axcelis Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.00.

Axcelis Technologies Stock Down 1.9 %

Shares of NASDAQ:ACLS opened at $111.27 on Monday. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.24 and a beta of 1.64. The business’s 50 day moving average is $107.88 and its 200 day moving average is $120.53. Axcelis Technologies has a 12-month low of $93.77 and a 12-month high of $201.00. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.24 by $0.33. The company had revenue of $252.37 million during the quarter, compared to the consensus estimate of $242.61 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share.

Insider Buying and Selling

In other news, EVP Douglas A. Lawson purchased 500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was bought at an average price of $111.04 per share, for a total transaction of $55,520.00. Following the purchase, the executive vice president now owns 19,648 shares of the company’s stock, valued at $2,181,713.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACLS. Raymond James & Associates boosted its holdings in shares of Axcelis Technologies by 7.8% in the third quarter. Raymond James & Associates now owns 18,393 shares of the semiconductor company’s stock worth $2,999,000 after acquiring an additional 1,331 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Axcelis Technologies by 22.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,751 shares of the semiconductor company’s stock worth $612,000 after purchasing an additional 700 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Axcelis Technologies by 29.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,780 shares of the semiconductor company’s stock worth $1,105,000 after purchasing an additional 1,556 shares during the period. New York State Teachers Retirement System grew its holdings in Axcelis Technologies by 23.3% during the 3rd quarter. New York State Teachers Retirement System now owns 23,678 shares of the semiconductor company’s stock valued at $3,861,000 after buying an additional 4,472 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Axcelis Technologies by 3.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,018 shares of the semiconductor company’s stock valued at $1,796,000 after buying an additional 392 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

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.