Axcelis Technologies Inc (ACLS) Receives $27.38 Average Price Target from Brokerages

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Shares of Axcelis Technologies Inc (NASDAQ:ACLS) have been given a consensus rating of “Hold” by the eight analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $27.38.

ACLS has been the topic of a number of recent analyst reports. Benchmark raised shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $26.50 target price on the stock in a research report on Friday, February 8th. B. Riley raised shares of Axcelis Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $28.00 in a research report on Monday, January 28th. Zacks Investment Research raised shares of Axcelis Technologies from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 3rd. BidaskClub raised shares of Axcelis Technologies from a “sell” rating to a “hold” rating in a research report on Friday, December 28th. Finally, Craig Hallum downgraded shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 8th.

In other news, Director Dennis Thomas St sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $22.43, for a total value of $112,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas A. Lawson sold 13,672 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $22.51, for a total transaction of $307,756.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,172 shares of company stock valued at $875,757. 3.31% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. AlphaOne Investment Services LLC acquired a new stake in shares of Axcelis Technologies in the fourth quarter valued at about $33,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Axcelis Technologies by 362.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,363 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 8,121 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in shares of Axcelis Technologies in the fourth quarter valued at about $219,000. Victory Capital Management Inc. lifted its stake in shares of Axcelis Technologies by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 17,263 shares of the semiconductor company’s stock valued at $307,000 after purchasing an additional 672 shares during the period. Finally, Texas Permanent School Fund lifted its stake in shares of Axcelis Technologies by 4.2% in the fourth quarter. Texas Permanent School Fund now owns 21,210 shares of the semiconductor company’s stock valued at $378,000 after purchasing an additional 851 shares during the period. Institutional investors own 85.64% of the company’s stock.

Shares of NASDAQ:ACLS traded down $0.06 during trading hours on Wednesday, reaching $21.39. The stock had a trading volume of 9,448 shares, compared to its average volume of 184,922. Axcelis Technologies has a 1 year low of $15.46 and a 1 year high of $25.20. The company has a market cap of $685.75 million, a PE ratio of 16.32 and a beta of 1.19.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data 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. Axcelis Technologies had a net margin of 10.37% and a return on equity of 11.39%. The company had revenue of $105.68 million for the quarter, compared to the consensus estimate of $99.83 million. During the same period in the prior year, the firm posted $0.47 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, research analysts expect that Axcelis Technologies will post 0.83 earnings per share for the current fiscal year.

Axcelis Technologies announced that its Board of Directors has authorized a share buyback program on Monday, January 14th that allows the company to buyback $35.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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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Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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