Axcelis Technologies (NASDAQ:ACLS) Price Target Raised to $75.00

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) had its target price lifted by analysts at B. Riley from $58.00 to $75.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. B. Riley's price target indicates a potential upside of 10.87% from the stock's previous close.

Axcelis Technologies Stock Performance

NASDAQ ACLS traded down $0.83 on Wednesday, reaching $67.65. The stock had a trading volume of 76,061 shares, compared to its average volume of 654,378. The stock has a market cap of $2.17 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 4.63 and a beta of 1.52. Axcelis Technologies has a 12-month low of $40.40 and a 12-month high of $158.61. The business's 50-day moving average price is $56.29 and its 200 day moving average price is $61.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.08 and a current ratio of 5.56.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.39 by $0.65. The firm had revenue of $192.56 million during the quarter, compared to the consensus estimate of $184.86 million. Axcelis Technologies had a net margin of 18.58% and a return on equity of 18.55%. Axcelis Technologies's revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. As a group, equities analysts expect that Axcelis Technologies will post 2.55 earnings per share for the current year.

Axcelis Technologies announced that its board has approved a stock buyback plan on Wednesday, March 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $61.93, for a total value of $104,166.26. Following the transaction, the director now directly owns 35,050 shares of the company's stock, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.

Institutional Trading of Axcelis Technologies

Several hedge funds have recently made changes to their positions in ACLS. Signaturefd LLC increased its stake in shares of Axcelis Technologies by 90.6% during the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 173 shares during the period. Versant Capital Management Inc increased its position in Axcelis Technologies by 118.7% during the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 317 shares during the period. Fifth Third Bancorp raised its stake in shares of Axcelis Technologies by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock worth $29,000 after buying an additional 358 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Axcelis Technologies by 1,415.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company's stock valued at $35,000 after buying an additional 467 shares during the period. Finally, Bayforest Capital Ltd acquired a new stake in shares of Axcelis Technologies in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.98% 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 in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.

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