Zacks Investment Research upgraded shares of Axcelis Technologies (NASDAQ:ACLS) from a strong sell rating to a hold rating in a research note released on Monday morning.
According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “
A number of other research analysts have also recently commented on the company. Craig Hallum cut Axcelis Technologies from a buy rating to a hold rating in a research note on Friday. Benchmark upgraded shares of Axcelis Technologies from a hold rating to a buy rating and set a $26.50 target price for the company in a report on Friday. B. Riley upgraded shares of Axcelis Technologies from a neutral rating to a buy rating and increased their target price for the stock from $18.00 to $28.00 in a report on Monday, January 28th. BidaskClub upgraded shares of Axcelis Technologies from a sell rating to a hold rating in a report on Friday, December 28th. Finally, ValuEngine upgraded shares of Axcelis Technologies from a sell rating to a hold rating in a report on Saturday, December 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Axcelis Technologies presently has a consensus rating of Buy and an average price target of $26.70.
Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Wednesday, February 6th. The semiconductor company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The business had revenue of $105.68 million for the quarter, compared to analysts’ expectations of $99.83 million. Axcelis Technologies had a return on equity of 11.39% and a net margin of 10.37%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, research analysts expect that Axcelis Technologies will post 1.24 EPS for the current year.
Axcelis Technologies announced that its Board of Directors has approved a stock buyback program on Monday, January 14th that authorizes the company to repurchase $35.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Axcelis Technologies news, Director John T. Kurtzweil sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $17.61, for a total value of $44,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.31% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Axcelis Technologies by 1.5% in the fourth quarter. BlackRock Inc. now owns 4,785,672 shares of the semiconductor company’s stock worth $85,184,000 after buying an additional 69,234 shares during the period. Primecap Management Co. CA lifted its holdings in Axcelis Technologies by 1.5% in the third quarter. Primecap Management Co. CA now owns 2,953,300 shares of the semiconductor company’s stock worth $58,032,000 after buying an additional 44,600 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Axcelis Technologies by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,077,672 shares of the semiconductor company’s stock worth $40,826,000 after buying an additional 122,068 shares during the period. Vanguard Group Inc. lifted its holdings in Axcelis Technologies by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,957,527 shares of the semiconductor company’s stock worth $38,465,000 after buying an additional 10,175 shares during the period. Finally, Vanguard Group Inc lifted its holdings in Axcelis Technologies by 0.5% in the third quarter. Vanguard Group Inc now owns 1,957,527 shares of the semiconductor company’s stock worth $38,465,000 after buying an additional 10,175 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.
Axcelis Technologies Company Profile
Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.
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