Axcelis Technologies (ACLS) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Axcelis Technologies (NASDAQ:ACLS) from a strong sell rating to a hold rating in a report issued on Tuesday, April 10th.

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. “

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A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Axcelis Technologies from a buy rating to a hold rating in a report on Tuesday, December 12th. ValuEngine raised shares of Axcelis Technologies from a hold rating to a buy rating in a report on Sunday, December 31st. Benchmark reissued a buy rating and set a $33.00 price target (down from $36.00) on shares of Axcelis Technologies in a report on Thursday, January 18th. Stifel Nicolaus raised shares of Axcelis Technologies from a hold rating to a buy rating and set a $31.00 price target for the company in a report on Monday, January 22nd. Finally, Needham & Company LLC cut their price target on shares of Axcelis Technologies from $36.00 to $33.00 and set a buy rating for the company in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $32.50.

NASDAQ:ACLS opened at $24.10 on Tuesday. The firm has a market capitalization of $803.35, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 0.94 and a beta of 1.02. Axcelis Technologies has a 52 week low of $18.20 and a 52 week high of $37.05.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. Axcelis Technologies had a net margin of 30.92% and a return on equity of 18.64%. The firm had revenue of $116.40 million during the quarter, compared to the consensus estimate of $109.76 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was up 67.7% compared to the same quarter last year. sell-side analysts forecast that Axcelis Technologies will post 1.34 EPS for the current year.

In other news, Director Joseph P. Keithley sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $26.75, for a total value of $107,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Douglas A. Lawson sold 3,478 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $26.52, for a total transaction of $92,236.56. The disclosure for this sale can be found here. 3.31% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Elkfork Partners LLC acquired a new stake in Axcelis Technologies during the fourth quarter worth approximately $103,000. State of Alaska Department of Revenue acquired a new stake in Axcelis Technologies during the fourth quarter worth approximately $178,000. Meadow Creek Investment Management LLC acquired a new stake in Axcelis Technologies during the fourth quarter worth approximately $180,000. Jane Street Group LLC purchased a new position in Axcelis Technologies during the third quarter worth approximately $201,000. Finally, Advisor Group Inc. raised its stake in Axcelis Technologies by 87.2% during the fourth quarter. Advisor Group Inc. now owns 7,459 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 3,474 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

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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 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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