DA Davidson Boosts Axcelis Technologies (NASDAQ:ACLS) Price Target to $90.00

Key Points

• DA Davidson has raised its price target for Axcelis Technologies from $75.00 to $90.00, indicating a potential upside of 18.25% from the current stock price.
• B. Riley also increased their price target for the company to $75.00 while maintaining a "neutral" rating, with a consensus target price of $90.00 from multiple analysts.
• Axcelis Technologies reported $1.13 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, despite a revenue decrease of 24.2% year-over-year.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) had its price target upped by DA Davidson from $75.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. DA Davidson's price objective indicates a potential upside of 18.25% from the company's current price.

Separately, B. Riley increased 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $90.00.

Axcelis Technologies Price Performance

Shares of ACLS stock traded down $1.90 on Wednesday, reaching $76.11. The company's stock had a trading volume of 718,386 shares, compared to its average volume of 639,915. The stock's 50 day simple moving average is $69.23 and its 200-day simple moving average is $61.34. Axcelis Technologies has a 12-month low of $40.40 and a 12-month high of $117.57. The company has a quick ratio of 4.08, a current ratio of 5.56 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.45 billion, a P/E ratio of 13.92 and a beta of 1.58.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.40. The firm had revenue of $194.54 million for the quarter, compared to analysts' expectations of $185.15 million. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. The company's revenue for the quarter was down 24.2% compared to the same quarter last year. During the same period last year, the firm earned $1.55 earnings per share. As a group, equities analysts predict that Axcelis Technologies will post 2.55 earnings per share for the current fiscal year.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the business's stock in a transaction dated 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 directly owned 35,050 shares in the company, valued at $2,170,646.50. The trade was a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axcelis Technologies

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Axcelis Technologies in the 4th quarter valued at $397,000. Nisa Investment Advisors LLC raised its position in Axcelis Technologies by 97.5% during the first quarter. Nisa Investment Advisors LLC now owns 796 shares of the semiconductor company's stock worth $40,000 after acquiring an additional 393 shares during the last quarter. LPL Financial LLC raised its position in Axcelis Technologies by 36.1% during the fourth quarter. LPL Financial LLC now owns 60,834 shares of the semiconductor company's stock worth $4,250,000 after acquiring an additional 16,152 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Axcelis Technologies in the fourth quarter valued at approximately $298,000. Finally, Homestead Advisers Corp grew its holdings in Axcelis Technologies by 15.5% in the first quarter. Homestead Advisers Corp now owns 34,200 shares of the semiconductor company's stock valued at $1,699,000 after purchasing an additional 4,600 shares during the period. 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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