Axcelis Technologies (NASDAQ:ACLS) Releases Earnings Results

Key Points

• Axcelis exceeded second-quarter expectations, reporting $215.2 million in revenue, up 10.6% year over year, and adjusted EPS of $1.06 versus the $0.89 consensus estimate.
• Management issued a stronger outlook, guiding third-quarter EPS to $1.11 and revenue to approximately $230 million, while raising its 2026 forecast to mid-single-digit revenue growth.
• Demand trends remain favorable in memory and power semiconductor markets, although the pending Veeco merger still requires regulatory approval and year-over-year EPS declined from $1.13.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) issued its quarterly earnings data on Thursday. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17, FiscalAI reports. Axcelis Technologies had a net margin of 11.93% and a return on equity of 12.19%. The firm had revenue of $215.18 million during the quarter, compared to the consensus estimate of $205.03 million. During the same period in the prior year, the firm posted $1.13 earnings per share. The company's quarterly revenue was up 10.6% compared to the same quarter last year. Axcelis Technologies updated its Q3 2026 guidance to 1.110-1.110 EPS.

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

• Second-quarter results exceeded expectations, with revenue of $215 million and adjusted EPS of $1.06. CS&I strength, improved power demand, and operational execution supported the outperformance.
• Management raised its 2026 outlook to approximately mid-single-digit revenue growth, compared with its prior expectation for flat revenue, and expects fourth-quarter revenue to increase sequentially. The company also anticipates another year of revenue growth in 2027.
• Memory demand remains robust despite quarter-to-quarter lumpiness, with strong DRAM and high-bandwidth memory investment expected to drive momentum into 2027. Axcelis is expanding its memory customer base, including additional orders from a leading North American memory manufacturer.
• Power markets are recovering, with strength in both silicon carbide and silicon applications. Secular opportunities include electric vehicles, 800-volt data-center infrastructure, industrial applications, and next-generation high-energy implant technologies.
• The pending Veeco merger remains subject to outstanding regulatory requirements, including approval in China, and is still expected to close in the second half of 2026. Management declined to answer transaction-related questions.

Axcelis Technologies Stock Performance

ACLS stock traded down $0.01 during midday trading on Thursday, reaching $136.66. 907,689 shares of the company's stock traded hands, compared to its average volume of 417,955. The company has a current ratio of 4.59, a quick ratio of 2.99 and a debt-to-equity ratio of 0.04. Axcelis Technologies has a 52-week low of $73.60 and a 52-week high of $193.78. The stock has a market cap of $4.20 billion, a P/E ratio of 42.57, a PEG ratio of 9.68 and a beta of 1.92. The stock's 50-day moving average is $152.66 and its 200 day moving average is $124.21.

Trending Headlines about Axcelis Technologies

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

• Positive Sentiment: Q2 results exceeded expectations: Axcelis reported revenue of $215.2 million, up 10.6% year over year, while non-GAAP diluted EPS was $1.06 versus the $0.89 consensus estimate. Gross margin was 42.7% on a non-GAAP basis, and non-GAAP operating margin was 14.7%. Axcelis Announces Financial Results for Second Quarter 2026
• Positive Sentiment: Strong Q3 outlook: Management guided to earnings of $1.11 per share and revenue of $230 million, ahead of analyst expectations of $1.01 EPS and $214.8 million in revenue. The guidance suggests continued demand for Axcelis’ semiconductor manufacturing equipment. Axcelis Technologies Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Industry outlook remains constructive: Recent coverage points to firming chip-equipment demand and the potential for Axcelis to benefit from ongoing semiconductor capacity expansion, supporting the company’s growth narrative. Axcelis Technologies Draws Eyes as Chip-Gear Demand Firms
• Neutral Sentiment: Investor focus is shifting to execution: The earnings call provided additional detail on quarterly performance, demand trends and the company’s outlook, with the elevated guidance now setting a higher bar for future results. Axcelis Technologies Q2 2026 Earnings Call Transcript
• Negative Sentiment: Year-over-year EPS declined: Quarterly EPS fell from $1.13 a year earlier to $1.06 on a non-GAAP basis, despite the revenue increase. The shares also trade at a relatively high trailing P/E of about 42.6, leaving less room for disappointment.

Insider Activity

In related news, Director Necip Sayiner sold 1,586 shares of the firm's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $157.44, for a total value of $249,699.84. Following the transaction, the director directly owned 7,112 shares of the company's stock, valued at approximately $1,119,713.28. This trade represents a 18.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Tatnall sold 1,166 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $149.75, for a total value of $174,608.50. Following the completion of the transaction, the executive vice president directly owned 27,627 shares in the company, valued at approximately $4,137,143.25. This represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,083 shares of company stock worth $4,001,032. Company insiders own 0.49% of the company's stock.

Hedge Funds Weigh In On Axcelis Technologies

Several institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of Axcelis Technologies by 85.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,807,404 shares of the semiconductor company's stock worth $145,207,000 after buying an additional 835,242 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Axcelis Technologies by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 841,040 shares of the semiconductor company's stock worth $67,570,000 after acquiring an additional 71,428 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Axcelis Technologies by 7.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 635,393 shares of the semiconductor company's stock worth $31,560,000 after acquiring an additional 44,275 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Axcelis Technologies by 23.8% during the 4th quarter. Invesco Ltd. now owns 478,897 shares of the semiconductor company's stock worth $38,475,000 after purchasing an additional 92,162 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Axcelis Technologies by 47.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 283,926 shares of the semiconductor company's stock valued at $27,723,000 after purchasing an additional 91,738 shares during the last quarter. Institutional investors own 89.98% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Axcelis Technologies from $130.00 to $156.00 and gave the company an "underperform" rating in a research report on Tuesday, June 23rd. B. Riley Financial upgraded shares of Axcelis Technologies from a "neutral" rating to a "buy" rating and set a $150.00 price objective on the stock in a report on Monday, April 20th. Zacks Research raised shares of Axcelis Technologies from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Finally, Weiss Ratings downgraded shares of Axcelis Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $130.25.

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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