B. Riley Financial Reaffirms Buy Rating for Axcelis Technologies (NASDAQ:ACLS)

Key Points

• B. Riley reaffirmed its Buy rating on Axcelis Technologies but lowered its price target from $165 to $140; the revised target implies about 42% upside from the stock’s then-current price.
• Axcelis shares rose 9.5% on Friday to $98.54. The company’s latest quarterly results beat estimates, with revenue up 11.3% year over year and EPS of $1.26 versus the $1.11 consensus.
• Analyst sentiment remains mixed: Craig-Hallum also upgraded the stock to Buy with a $140 target, but the overall consensus rating was Hold, with a consensus price target of $145.33.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report)'s stock had its "buy" rating restated by research analysts at B. Riley Financial in a report released on Friday, Benzinga reports. They currently have a $140.00 price target on the semiconductor company's stock, down from their previous price target of $165.00. B. Riley Financial's price target suggests a potential upside of 42.07% from the stock's current price.

A number of other equities research analysts have also recently issued reports on ACLS. Craig Hallum upgraded shares of Axcelis Technologies from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Friday. Weiss Ratings upgraded shares of Axcelis Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 16th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $145.33.

Axcelis Technologies Stock Up 9.5%

Shares of Axcelis Technologies stock traded up $8.54 during midday trading on Friday, reaching $98.54. 69,671 shares of the company's stock traded hands, compared to its average volume of 594,227. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.21 and a current ratio of 4.90. Axcelis Technologies has a 52 week low of $73.60 and a 52 week high of $193.78. The company's 50 day simple moving average is $116.08 and its 200 day simple moving average is $122.65. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.81 and a beta of 1.88.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last posted its earnings results on Thursday, November 5th. The semiconductor company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.11 by $0.15. Axcelis Technologies had a net margin of 10.71% and a return on equity of 11.69%. The firm had revenue of $237.78 million for the quarter, compared to the consensus estimate of $230.08 million. During the same period in the prior year, the business posted $1.21 earnings per share. The business's quarterly revenue was up 11.3% on a year-over-year basis. Axcelis Technologies has set its Q4 2026 guidance at 1.500-1.500 EPS. Equities analysts expect that Axcelis Technologies will post 3.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axcelis Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACLS. Wellington Management Group LLP acquired a new position in shares of Axcelis Technologies in the 2nd quarter valued at $13,070,000. The Manufacturers Life Insurance Company increased its holdings in Axcelis Technologies by 3,402.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 491,745 shares of the semiconductor company's stock worth $45,772,000 after purchasing an additional 477,705 shares in the last quarter. Reinhart Partners LLC. raised its position in Axcelis Technologies by 14.2% in the 3rd quarter. Reinhart Partners LLC. now owns 1,060,636 shares of the semiconductor company's stock valued at $139,134,000 after buying an additional 131,976 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Axcelis Technologies in the first quarter valued at approximately $1,004,000. Finally, Segall Bryant & Hamill LLC lifted its position in Axcelis Technologies by 96.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 200,371 shares of the semiconductor company's stock worth $18,651,000 after buying an additional 98,184 shares in the last quarter. Institutional investors own 89.98% of the company's stock.

Key Stories Impacting Axcelis Technologies

Here are the key news stories impacting Axcelis Technologies this week:

• Positive Sentiment: Q3 results topped expectations. Axcelis reported revenue of $237.8 million, up 11.3% year over year, versus estimates of about $230 million. Non-GAAP diluted EPS was $1.26, above the $1.11 consensus. Axcelis Q3 financial results
• Positive Sentiment: Q4 guidance exceeded consensus. The company forecast revenue of $275 million and EPS of $1.50, compared with analyst estimates of about $239.3 million and $1.18, respectively. Axcelis Q4 outlook and merger timing
• Positive Sentiment: Craig-Hallum upgraded ACLS to Buy from Hold and set a $140 price target, signaling improved analyst sentiment. Craig-Hallum upgrade
• Neutral Sentiment: Axcelis said it is targeting completion of its merger with Veeco by the end of Q1 2027. The deal’s eventual impact will depend on closing and integration. Axcelis Q4 outlook and merger timing

Axcelis Technologies Company Profile

Axcelis Technologies, Inc develops and manufactures equipment used in the fabrication of semiconductor devices. The company is best known for its ion implantation systems, which precisely introduce dopant atoms into silicon wafers to control the electrical properties of semiconductor components.

Its product portfolio includes the Purion family of ion implantation systems, designed for applications such as high-current, medium-current and high-energy implantation. Axcelis also provides related aftermarket products and services, including spare parts, equipment upgrades, process support and customer training.

Headquartered in Beverly, Massachusetts, Axcelis serves semiconductor manufacturers and other customers in major chip-production regions worldwide.

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