Axcelis Technologies (NASDAQ:ACLS) Rating Lowered to Underperform at Bank of America

Key Points

• Bank of America has downgraded Axcelis Technologies from a "neutral" rating to an "underperform" rating, with a target price of $90.00, indicating a potential upside of 13.65% from the current stock price.
• Multiple analysts have varied ratings for Axcelis, with Zacks Research downgrading it to "hold," while Wall Street Zen upgraded it to "buy," showcasing mixed sentiments in the market.
• Axcelis Technologies' stock has experienced a significant decline of 6.4% recently, with a current trading price around $79.19, well below its one-year high of $107.23.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) was downgraded by Bank of America from a "neutral" rating to an "underperform" rating in a research note issued on Monday,Finviz reports. They presently have a $90.00 price target on the semiconductor company's stock. Bank of America's target price would indicate a potential upside of 13.65% from the stock's current price.

A number of other research firms also recently commented on ACLS. Zacks Research downgraded Axcelis Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Wall Street Zen upgraded Axcelis Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings restated a "hold (c)" rating on shares of Axcelis Technologies in a research note on Wednesday, October 8th. DA Davidson raised their price target on Axcelis Technologies from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Finally, B. Riley raised their price target on Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $97.00.

Axcelis Technologies Trading Down 6.4%

ACLS opened at $79.19 on Monday. Axcelis Technologies has a one year low of $40.40 and a one year high of $107.23. The company has a market cap of $2.49 billion, a P/E ratio of 16.19 and a beta of 1.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.26 and a current ratio of 6.01. The business's 50-day simple moving average is $85.14 and its 200-day simple moving average is $69.24.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The semiconductor company reported $1.71 EPS for the quarter. Axcelis Technologies had a return on equity of 16.26% and a net margin of 17.69%.The business had revenue of $252.42 million for the quarter. As a group, equities research analysts expect that Axcelis Technologies will post 2.55 EPS for the current fiscal year.

Institutional Trading of Axcelis Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Ausbil Investment Management Ltd lifted its position in Axcelis Technologies by 71.5% during the 3rd quarter. Ausbil Investment Management Ltd now owns 9,234 shares of the semiconductor company's stock worth $875,000 after acquiring an additional 3,849 shares during the period. Veracity Capital LLC acquired a new stake in Axcelis Technologies during the 3rd quarter worth approximately $597,000. Moody National Bank Trust Division acquired a new stake in Axcelis Technologies during the 3rd quarter worth approximately $257,000. Osaic Holdings Inc. lifted its position in Axcelis Technologies by 36.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,748 shares of the semiconductor company's stock worth $191,000 after acquiring an additional 730 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Axcelis Technologies by 37.0% during the 2nd quarter. Squarepoint Ops LLC now owns 100,023 shares of the semiconductor company's stock worth $6,971,000 after acquiring an additional 27,021 shares during the period. 89.98% of the stock is owned by institutional investors and hedge funds.

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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