Axcelis Technologies (NASDAQ:ACLS) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Axcelis Technologies (NASDAQ:ACLS) from a hold rating to a buy rating in a report issued on Saturday, BidAskClub reports.

Other analysts also recently issued reports about the stock. ValuEngine raised shares of Axcelis Technologies from a hold rating to a buy rating in a research note on Tuesday, July 23rd. Benchmark reissued a buy rating and issued a $26.00 price target on shares of Axcelis Technologies in a research note on Thursday, May 9th. TheStreet downgraded shares of Axcelis Technologies from a b rating to a c+ rating in a research note on Thursday, May 23rd. Northland Securities downgraded shares of Axcelis Technologies from an outperform rating to a market perform rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research downgraded shares of Axcelis Technologies from a hold rating to a sell rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $27.00.

Axcelis Technologies stock traded down $0.39 during mid-day trading on Friday, hitting $15.77. The company’s stock had a trading volume of 215,982 shares, compared to its average volume of 200,429. The company has a current ratio of 5.76, a quick ratio of 3.73 and a debt-to-equity ratio of 0.12. The stock has a market cap of $532.35 million, a PE ratio of 12.04 and a beta of 1.32. The business has a 50 day moving average of $15.18. Axcelis Technologies has a 12 month low of $13.99 and a 12 month high of $25.17.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $91.48 million during the quarter, compared to the consensus estimate of $93.05 million. Axcelis Technologies had a net margin of 9.23% and a return on equity of 9.11%. The firm’s revenue for the quarter was down 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Equities analysts forecast that Axcelis Technologies will post 0.35 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position 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 valued at $40,690,000 after acquiring an additional 208,263 shares during the period. Norges Bank purchased a new position in shares of Axcelis Technologies during the fourth quarter valued at about $10,517,000. Bank of New York Mellon Corp increased its position in shares of Axcelis Technologies by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 410,038 shares of the semiconductor company’s stock valued at $7,299,000 after buying an additional 8,500 shares during the period. Northern Trust Corp increased its position in shares of Axcelis Technologies by 0.3% during the fourth quarter. Northern Trust Corp now owns 396,001 shares of the semiconductor company’s stock valued at $7,049,000 after buying an additional 1,144 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Axcelis Technologies by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 375,416 shares of the semiconductor company’s stock valued at $6,682,000 after buying an additional 26,452 shares during the period. Hedge funds and other institutional investors own 80.52% 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 curing systems and thermal processing systems.

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