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S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
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S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
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S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
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Needham & Company LLC Increases Axcelis Technologies (NASDAQ:ACLS) Price Target to $42.00

Last updated on Thursday, January 21, 2021 | 2021 MarketBeat

Axcelis Technologies (NASDAQ:ACLS) had its price target boosted by investment analysts at Needham & Company LLC from $37.00 to $42.00 in a note issued to investors on Thursday, AR Network reports. The firm currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's target price points to a potential upside of 8.30% from the company's previous close.

A number of other research firms also recently issued reports on ACLS. Benchmark increased their price objective on Axcelis Technologies from $33.00 to $38.00 in a report on Wednesday, January 13th. Craig Hallum increased their price objective on Axcelis Technologies from $32.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, January 13th. Zacks Investment Research downgraded Axcelis Technologies from a "hold" rating to a "sell" rating in a report on Monday, January 11th. Finally, B. Riley increased their price objective on Axcelis Technologies from $40.00 to $43.00 in a report on Wednesday, January 13th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. Axcelis Technologies currently has a consensus rating of "Buy" and an average target price of $37.57.

Shares of Axcelis Technologies stock opened at $38.78 on Thursday. Axcelis Technologies has a 1 year low of $12.99 and a 1 year high of $39.65. The business has a 50-day moving average of $30.32 and a two-hundred day moving average of $26.31. The company has a market capitalization of $1.30 billion, a P/E ratio of 29.16 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.28 and a quick ratio of 3.98.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Tuesday, November 10th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.24 by $0.08. The business had revenue of $110.40 million during the quarter, compared to the consensus estimate of $107.50 million. Axcelis Technologies had a return on equity of 10.28% and a net margin of 9.79%. Axcelis Technologies's quarterly revenue was up 58.8% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. On average, equities analysts anticipate that Axcelis Technologies will post 1.32 EPS for the current fiscal year.

In other news, Director John T. Kurtzweil sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $27.52, for a total value of $82,560.00. Following the completion of the sale, the director now directly owns 34,439 shares of the company's stock, valued at $947,761.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Lynnette C. Fallon sold 28,648 shares of the firm's stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $26.00, for a total value of $744,848.00. The disclosure for this sale can be found here. Insiders have sold 50,148 shares of company stock valued at $1,334,863 over the last three months. Insiders own 2.93% of the company's stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Axcelis Technologies by 5.9% in the second quarter. Vanguard Group Inc. now owns 2,271,676 shares of the semiconductor company's stock valued at $63,267,000 after buying an additional 127,317 shares during the last quarter. Royce & Associates LP lifted its position in shares of Axcelis Technologies by 45.4% in the third quarter. Royce & Associates LP now owns 971,416 shares of the semiconductor company's stock valued at $21,371,000 after buying an additional 303,400 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Axcelis Technologies by 61.8% in the second quarter. Nuveen Asset Management LLC now owns 454,187 shares of the semiconductor company's stock valued at $12,649,000 after buying an additional 173,496 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Axcelis Technologies by 17.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 401,350 shares of the semiconductor company's stock valued at $8,830,000 after buying an additional 59,863 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Axcelis Technologies by 9.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 240,581 shares of the semiconductor company's stock valued at $5,293,000 after buying an additional 21,076 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

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. The company offers high energy, high current, and medium current implanters for various application requirements.

Further Reading: How Do You Calculate Return on Investment (ROI)?

Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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