Axcelis Technologies (NASDAQ:ACLS) Releases Earnings Results

Key Points

• Q1 beat: Axcelis reported revenue of $199 million and non‑GAAP EPS of $0.72, slightly above estimates, though results included a one‑time $5 million customer settlement that trimmed EPS by about $0.09.
• Upgraded near‑term outlook: Management set Q2 2026 EPS guidance near $0.90, reaffirmed roughly flat full‑year 2026 revenue with a second‑half weighting, and highlighted expected strong memory market growth into 2026–2027.
• Strategic position: Axcelis expects its pending merger with Veeco to close in H2 2026 pending China approval and exited Q1 with a strong balance sheet of about $570 million in cash and marketable securities.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) posted its earnings results on Thursday. The semiconductor company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01, Briefing.com reports. Axcelis Technologies had a net margin of 14.33% and a return on equity of 13.73%. The business had revenue of $198.96 million for the quarter, compared to analyst estimates of $195.03 million. During the same period in the prior year, the company posted $0.88 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Axcelis Technologies updated its Q2 2026 guidance to 0.900- EPS.

Here are the key takeaways from Axcelis Technologies' conference call:

• Reported revenue of $199 million and EPS of $0.72, slightly above expectations but including a one-time $5 million customer settlement that reduced EPS by about $0.09.
• CS&I revenue grew >30% year-over-year and exceeded expectations, while system shipments and bookings into the memory market strengthened — management expects strong memory growth for full-year 2026.
• Management highlighted encouraging demand signals for silicon carbide with increased customer engagement on 200mm transitions and channeling, but noted that power and general mature markets remain in a near-term digestion phase.
• Company reaffirmed 2026 guidance of roughly flat revenue year-over-year, with Q2 revenue expected near $205 million, gross margin ~43%, Q2 EPS ~$0.90, and a second-half weighting leading into expected growth in 2027.
• Pending merger with Veeco is expected to close in H2 2026 pending China approval, and Axcelis exited Q1 with a strong balance sheet of ~$570 million in cash and marketable securities to support operations and transaction costs.

Axcelis Technologies Price Performance

Axcelis Technologies stock traded up $3.62 during midday trading on Friday, reaching $162.28. The company had a trading volume of 749,301 shares, compared to its average volume of 796,852. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.77 and a quick ratio of 3.11. Axcelis Technologies has a 12-month low of $55.93 and a 12-month high of $171.61. The company has a market capitalization of $4.99 billion, a P/E ratio of 42.86, a P/E/G ratio of 20.44 and a beta of 1.93. The firm's fifty day simple moving average is $105.37 and its 200-day simple moving average is $92.72.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ACLS shares. Weiss Ratings raised Axcelis Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, April 22nd. Bank of America boosted their price objective on Axcelis Technologies from $90.00 to $100.00 and gave the company an "underperform" rating in a research report on Tuesday, January 13th. B. Riley Financial raised Axcelis Technologies from a "neutral" rating to a "buy" rating and set a $150.00 target price for the company in a research note on Monday, April 20th. Finally, Zacks Research upgraded Axcelis Technologies from a "strong sell" rating to a "hold" rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $116.25.

Key Headlines Impacting Axcelis Technologies

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

• Positive Sentiment: Raised near-term guidance — Management set Q2 2026 EPS guidance around $0.90, above the Street (~$0.78), providing clear forward earnings upside that supports the rally. Read More.
• Positive Sentiment: Q1 beat on both EPS and revenue with healthy margins — Non‑GAAP EPS $0.72 vs. $0.71 consensus and revenue of $199.0M vs. ~$195M; non‑GAAP gross margin ~40.7%, which validates profitability as revenues rise modestly year-over-year. Read More.
• Positive Sentiment: Conference / technical visibility — Participation in ASMC 2026 and investor presentations reinforce Axcelis’s process leadership in ion implantation, aiding demand visibility for advanced-node tools. Read More.
• Neutral Sentiment: Earnings call color available — Transcripts and the conference presentation provide details on demand mix, margin drivers and product roadmap useful for modeling; no major surprises beyond the raised guidance. Read More.
• Neutral Sentiment: Full results release and GAAP vs. non‑GAAP reconciliation posted — Investors can drill into one‑time items and cash flow to refine estimates. Read More.
• Negative Sentiment: Insider sale by CEO — CEO Russell Low sold 7,468 shares (~$1.17M) under a pre-arranged Rule 10b5‑1 plan; while planned, insider sales can temper sentiment for some investors. Read More.
• Negative Sentiment: Analyst coverage remains mixed — Several price targets and ratings are below current levels, which could cap upside if demand softens or guidance slips. Read More.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, CEO Russell Low sold 7,468 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $156.75, for a total transaction of $1,170,609.00. Following the completion of the sale, the chief executive officer directly owned 123,570 shares in the company, valued at approximately $19,369,597.50. The trade was a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jorge Titinger sold 1,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the sale, the director owned 6,477 shares of the company's stock, valued at approximately $518,160. This trade represents a 13.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,956 shares of company stock valued at $1,540,361. 0.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axcelis Technologies

Large investors have recently bought and sold shares of the company. Headlands Technologies LLC increased its stake in Axcelis Technologies by 918.3% during the 2nd quarter. Headlands Technologies LLC now owns 5,550 shares of the semiconductor company's stock worth $387,000 after buying an additional 5,005 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Axcelis Technologies during the 3rd quarter worth approximately $336,000. HighTower Advisors LLC increased its stake in Axcelis Technologies by 11.5% during the 4th quarter. HighTower Advisors LLC now owns 4,061 shares of the semiconductor company's stock worth $326,000 after buying an additional 419 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Axcelis Technologies by 34.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,721 shares of the semiconductor company's stock worth $299,000 after buying an additional 951 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Axcelis Technologies by 86.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,145 shares of the semiconductor company's stock worth $289,000 after buying an additional 1,927 shares in the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc is a leading developer and manufacturer of ion implantation and cleaning equipment used in the fabrication of semiconductor chips. The company specializes in high-current, medium-current and high-energy ion implantation systems, which are critical for introducing precisely controlled dopants into silicon wafers. Axcelis also offers plasma-based cleaning and dry strip tools that support advanced process nodes in logic, memory and power device manufacturing.

The company's product portfolio encompasses single-wafer and multi-wafer cluster tools designed to deliver high throughput, accuracy and uniformity for semiconductor process steps.

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