Axcelis Technologies Inc (NASDAQ:ACLS) has been assigned an average recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $27.38.
A number of research analysts have weighed in on ACLS shares. B. Riley raised shares of Axcelis Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $18.00 to $28.00 in a research report on Monday, January 28th. Benchmark raised shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $26.50 target price on the stock in a research report on Friday, February 8th. BidaskClub cut shares of Axcelis Technologies from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of Axcelis Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Finally, Craig Hallum cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 8th.
Shares of ACLS traded down $0.06 during mid-day trading on Wednesday, hitting $21.39. The company had a trading volume of 9,448 shares, compared to its average volume of 184,922. Axcelis Technologies has a 1-year low of $15.46 and a 1-year high of $25.20. The stock has a market capitalization of $685.75 million, a PE ratio of 16.32 and a beta of 1.19.
Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $105.68 million for the quarter, compared to analysts’ expectations of $99.83 million. Axcelis Technologies had a net margin of 10.37% and a return on equity of 11.39%. Axcelis Technologies’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. On average, research analysts expect that Axcelis Technologies will post 0.83 earnings per share for the current year.
Axcelis Technologies declared that its board has approved a share repurchase program on Monday, January 14th that permits the company to buyback $35.00 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, EVP Douglas A. Lawson sold 13,672 shares of Axcelis Technologies stock in a transaction on Friday, February 15th. The shares were sold at an average price of $22.51, for a total value of $307,756.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R John Fletcher sold 22,500 shares of Axcelis Technologies stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $20.26, for a total transaction of $455,850.00. Following the completion of the sale, the director now owns 58,372 shares of the company’s stock, valued at approximately $1,182,616.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,172 shares of company stock worth $875,757. Corporate insiders own 3.31% of the company’s stock.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Axcelis Technologies by 1.5% in the fourth quarter. BlackRock Inc. now owns 4,785,672 shares of the semiconductor company’s stock worth $85,184,000 after buying an additional 69,234 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Axcelis Technologies by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,285,935 shares of the semiconductor company’s stock worth $40,690,000 after buying an additional 208,263 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Axcelis Technologies by 0.5% in the third quarter. Vanguard Group Inc now owns 1,957,527 shares of the semiconductor company’s stock worth $38,465,000 after buying an additional 10,175 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Axcelis Technologies by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,957,527 shares of the semiconductor company’s stock worth $38,465,000 after buying an additional 10,175 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in shares of Axcelis Technologies in the fourth quarter worth $14,979,000. Institutional investors and hedge funds own 85.64% of the company’s stock.
About Axcelis Technologies
Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.
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