Axcelis Technologies, Inc. (NASDAQ:ACLS) Receives $173.00 Average Price Target from Brokerages

Axcelis Technologies, Inc. (NASDAQ:ACLS) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $173.00.

A number of equities analysts have recently commented on ACLS shares. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. Craig Hallum raised shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Friday, May 3rd. B. Riley lifted their price objective on shares of Axcelis Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Benchmark dropped their target price on Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 3rd.

Insider Activity

In related news, Director John T. Kurtzweil sold 1,200 shares of Axcelis Technologies stock in a transaction on Monday, May 20th. The shares were sold at an average price of $114.42, for a total transaction of $137,304.00. Following the sale, the director now directly owns 33,146 shares in the company, valued at approximately $3,792,565.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Axcelis Technologies in the fourth quarter valued at $57,105,000. Reinhart Partners LLC. purchased a new stake in Axcelis Technologies during the 1st quarter valued at approximately $37,871,000. Jackson Square Partners LLC acquired a new stake in Axcelis Technologies during the 4th quarter worth approximately $42,892,000. Vanguard Group Inc. grew its stake in shares of Axcelis Technologies by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock valued at $480,040,000 after purchasing an additional 263,604 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Axcelis Technologies in the third quarter valued at approximately $40,425,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Stock Performance

Shares of ACLS stock opened at $139.17 on Monday. The firm has a 50 day moving average of $117.09 and a two-hundred day moving average of $118.65. The stock has a market capitalization of $4.53 billion, a PE ratio of 18.38, a P/E/G ratio of 3.42 and a beta of 1.54. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. Axcelis Technologies has a 52 week low of $93.77 and a 52 week high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.31. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The firm had revenue of $252.37 million during the quarter, compared to analyst estimates of $242.55 million. On average, research analysts predict that Axcelis Technologies will post 6.41 EPS for the current fiscal year.

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.