Axcelis Technologies (NASDAQ:ACLS) Issues Quarterly Earnings Results

Axcelis Technologies (NASDAQ:ACLS) posted its quarterly earnings data on Wednesday. The semiconductor company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.24 by $0.33, Briefing.com reports. The firm had revenue of $252.37 million during the quarter, compared to analyst estimates of $242.61 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. Axcelis Technologies updated its Q2 guidance to $1.30 EPS and its Q2 2024 guidance to 1.300-1.300 EPS.

Axcelis Technologies Stock Up 4.5 %

ACLS opened at $111.45 on Friday. The company has a 50 day moving average of $107.79 and a 200 day moving average of $121.52. The company has a market cap of $3.63 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.14 and a beta of 1.64. Axcelis Technologies has a 12 month low of $93.77 and a 12 month high of $201.00. The company has a current ratio of 4.00, a quick ratio of 2.71 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling

In other Axcelis Technologies news, EVP Douglas A. Lawson acquired 500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was bought at an average cost of $111.04 per share, with a total value of $55,520.00. Following the acquisition, the executive vice president now owns 19,648 shares in the company, valued at $2,181,713.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research note on Friday. Craig Hallum upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Friday. Benchmark decreased their price target on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Friday. B. Riley decreased their price target on shares of Axcelis Technologies from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Friday. Finally, B. Riley Financial decreased their price target on shares of Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.00.

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