Axcelis Technologies (NASDAQ:ACLS) Upgraded to Buy by BidaskClub

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BidaskClub upgraded shares of Axcelis Technologies (NASDAQ:ACLS) from a hold rating to a buy rating in a report published on Thursday morning, BidAskClub reports.

Other equities analysts also recently issued reports about the stock. Northland Securities set a $15.00 target price on shares of Axcelis Technologies and gave the stock a hold rating in a research note on Wednesday, August 7th. ValuEngine raised shares of Axcelis Technologies from a hold rating to a buy rating in a research note on Tuesday, July 23rd. Finally, TheStreet downgraded shares of Axcelis Technologies from a b rating to a c+ rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $23.00.

NASDAQ:ACLS opened at $18.41 on Thursday. Axcelis Technologies has a 12 month low of $13.99 and a 12 month high of $22.99. The firm has a market cap of $588.12 million, a PE ratio of 14.05 and a beta of 1.29. The company has a quick ratio of 4.04, a current ratio of 6.63 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $15.57 and its two-hundred day moving average price is $17.42.

Axcelis Technologies (NASDAQ:ACLS) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.05. Axcelis Technologies had a net margin of 6.52% and a return on equity of 5.53%. The company had revenue of $74.31 million during the quarter, compared to the consensus estimate of $75.00 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was down 37.7% on a year-over-year basis. On average, research analysts expect that Axcelis Technologies will post 0.4 EPS for the current fiscal year.

In related news, EVP Douglas A. Lawson bought 3,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $15.05 per share, with a total value of $45,150.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.72% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ACLS. Dimensional Fund Advisors LP raised its stake in shares of Axcelis Technologies by 10.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,285,935 shares of the semiconductor company’s stock worth $40,690,000 after buying an additional 208,263 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Axcelis Technologies by 448.6% during the first quarter. BNP Paribas Arbitrage SA now owns 6,792 shares of the semiconductor company’s stock worth $137,000 after buying an additional 5,554 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Axcelis Technologies by 62.7% during the first quarter. SG Americas Securities LLC now owns 19,594 shares of the semiconductor company’s stock worth $394,000 after buying an additional 7,554 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Axcelis Technologies by 1.6% during the first quarter. Rhumbline Advisers now owns 97,823 shares of the semiconductor company’s stock worth $1,968,000 after buying an additional 1,526 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Axcelis Technologies by 2.6% during the first quarter. Comerica Bank now owns 31,996 shares of the semiconductor company’s stock worth $669,000 after buying an additional 805 shares during the last quarter. 82.33% of the stock is owned by 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 worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides curing systems and thermal processing systems.

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