Axcelis Technologies (NASDAQ:ACLS) Updates Q4 2024 Earnings Guidance

Axcelis Technologies (NASDAQ:ACLS) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.250-1.250 for the period, compared to the consensus EPS estimate of 1.520. The company issued revenue guidance of $245.0 million-$245.0 million, compared to the consensus revenue estimate of $262.1 million.

Axcelis Technologies Price Performance

NASDAQ ACLS traded down $2.02 during mid-day trading on Friday, hitting $85.08. The stock had a trading volume of 935,682 shares, compared to its average volume of 630,446. The company has a quick ratio of 3.26, a current ratio of 4.42 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 2.57 and a beta of 1.60. Axcelis Technologies has a 52-week low of $81.47 and a 52-week high of $158.61. The company has a 50 day simple moving average of $96.91 and a 200 day simple moving average of $113.14.

Analyst Ratings Changes

Several research firms have weighed in on ACLS. Benchmark downgraded shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Friday. B. Riley lowered their price target on shares of Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Craig Hallum boosted their price objective on shares of Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, July 12th. DA Davidson lifted their price objective on Axcelis Technologies from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research note on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Axcelis Technologies has an average rating of “Moderate Buy” and a consensus target price of $167.33.

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.