DA Davidson Weighs in on Axcelis Technologies, Inc.’s FY2020 Earnings (NASDAQ:ACLS)


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Axcelis Technologies, Inc. (NASDAQ:ACLS) – DA Davidson lifted their FY2020 EPS estimates for Axcelis Technologies in a research report issued on Wednesday, January 13th. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will earn $1.36 per share for the year, up from their previous forecast of $1.25.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Tuesday, November 10th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $107.50 million. Axcelis Technologies had a return on equity of 10.28% and a net margin of 9.79%. Axcelis Technologies’s revenue was up 58.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 earnings per share.

ACLS has been the topic of several other research reports. Zacks Investment Research lowered Axcelis Technologies from a “hold” rating to a “sell” rating in a report on Monday. Benchmark upped their price objective on Axcelis Technologies from $33.00 to $38.00 in a research report on Wednesday. B. Riley upped their price objective on Axcelis Technologies from $40.00 to $43.00 in a research report on Wednesday. Stifel Nicolaus upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Sunday, September 20th. Finally, BidaskClub upgraded Axcelis Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $35.86.

Axcelis Technologies stock opened at $37.18 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.98 and a current ratio of 6.28. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 27.96 and a beta of 1.42. Axcelis Technologies has a fifty-two week low of $12.99 and a fifty-two week high of $37.64. The stock’s fifty day moving average is $29.06 and its two-hundred day moving average is $26.00.

Several hedge funds and other institutional investors have recently made changes to their positions in ACLS. Royce & Associates LP lifted its holdings in shares of Axcelis Technologies by 45.4% in the 3rd quarter. Royce & Associates LP now owns 971,416 shares of the semiconductor company’s stock worth $21,371,000 after purchasing 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 worth $12,649,000 after buying an additional 173,496 shares during the last quarter. Vanguard Group Inc. increased its stake 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 worth $63,267,000 after purchasing an additional 127,317 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Axcelis Technologies by 77.5% in the second quarter. Goldman Sachs Group Inc. now owns 243,653 shares of the semiconductor company’s stock worth $6,786,000 after purchasing an additional 106,397 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Axcelis Technologies by 59,893.1% in the third quarter. Federated Hermes Inc. now owns 95,989 shares of the semiconductor company’s stock worth $2,112,000 after purchasing an additional 95,829 shares during the period. 83.38% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Lynnette C. Fallon sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $27.43, for a total value of $507,455.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 in the company, valued at approximately $947,761.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,148 shares of company stock worth $1,334,863. 2.93% of the stock is currently owned by company insiders.

About Axcelis Technologies

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.

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