Brokerages Set Axcelis Technologies, Inc. (NASDAQ:ACLS) PT at $131.00

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) have earned an average recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $131.00.

Several research analysts recently issued reports on ACLS shares. William Blair lowered shares of Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. B. Riley reaffirmed a “neutral” rating and issued a $50.00 price target (down previously from $80.00) on shares of Axcelis Technologies in a research note on Monday, April 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Wednesday, February 12th.

Axcelis Technologies Trading Up 0.7%

Axcelis Technologies stock opened at $62.01 on Thursday. The business has a 50 day moving average price of $51.99 and a two-hundred day moving average price of $63.81. The company has a quick ratio of 4.05, a current ratio of 5.41 and a debt-to-equity ratio of 0.04. Axcelis Technologies has a 12 month low of $40.40 and a 12 month high of $158.61. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 4.52 and a beta of 1.52.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.65. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. The business had revenue of $192.56 million during the quarter, compared to analyst estimates of $184.86 million. During the same period in the prior year, the company posted $1.57 earnings per share. Axcelis Technologies’s revenue was down 23.7% on a year-over-year basis. As a group, equities analysts forecast that Axcelis Technologies will post 2.55 EPS for the current year.

Axcelis Technologies declared that its board has initiated a share buyback plan on Wednesday, March 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Axcelis Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd acquired a new position in shares of Axcelis Technologies during the first quarter worth approximately $38,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Axcelis Technologies by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 78,756 shares of the semiconductor company’s stock valued at $3,912,000 after buying an additional 836 shares during the last quarter. Optimize Financial Inc acquired a new stake in shares of Axcelis Technologies in the 1st quarter valued at $1,602,000. Caxton Associates LLP bought a new stake in shares of Axcelis Technologies during the first quarter worth $3,027,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Axcelis Technologies by 7.5% during the first quarter. Goldman Sachs Group Inc. now owns 635,393 shares of the semiconductor company’s stock valued at $31,560,000 after acquiring an additional 44,275 shares during the period. Institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Company Profile

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.