Axcelis Technologies (NASDAQ:ACLS) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Axcelis Technologies has been upgraded to a "buy" rating by Wall Street Zen, indicating increased confidence in the company's stock performance.
• Analysts' price targets for Axcelis range widely, with B. Riley setting a target of $75, while DA Davidson aims for $110, reflecting differing outlooks on the company's future.
• Institutional investors hold 89.98% of Axcelis' stock, suggesting strong institutional interest and confidence in the company's growth potential.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other analysts have also weighed in on the stock. B. Riley lifted their target price on shares of Axcelis Technologies from $58.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. DA Davidson boosted their price target on shares of Axcelis Technologies from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Zacks Research lowered shares of Axcelis Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Benchmark upgraded shares of Axcelis Technologies from a "hold" rating to a "buy" rating and set a $105.00 price target on the stock in a research report on Thursday, October 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Axcelis Technologies in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $98.75.

Axcelis Technologies Price Performance

Shares of Axcelis Technologies stock opened at $79.19 on Friday. 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 firm's 50-day simple moving average is $85.14 and its 200-day simple moving average is $69.04. Axcelis Technologies has a twelve month low of $40.40 and a twelve month high of $107.23. The firm has a market cap of $2.49 billion, a P/E ratio of 16.19 and a beta of 1.75.

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

Hedge Funds Weigh In On Axcelis Technologies

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp raised its stake in shares of Axcelis Technologies by 160.5% during the first quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock worth $29,000 after buying an additional 358 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Axcelis Technologies by 145.1% during the second quarter. EverSource Wealth Advisors LLC now owns 451 shares of the semiconductor company's stock worth $31,000 after buying an additional 267 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Axcelis Technologies by 50.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 481 shares of the semiconductor company's stock worth $34,000 after buying an additional 161 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Axcelis Technologies during the first quarter worth approximately $38,000. Finally, Parallel Advisors LLC raised its stake in shares of Axcelis Technologies by 129.0% during the second quarter. Parallel Advisors LLC now owns 545 shares of the semiconductor company's stock worth $38,000 after buying an additional 307 shares during the last quarter. 89.98% of the stock is currently 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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