Axcelis Technologies (NASDAQ:ACLS) Announces Earnings Results, Hits Expectations

Posted by Tristan Rich on Feb 11th, 2021 // Comments off

Axcelis Technologies (NASDAQ:ACLS) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32, Briefing.com reports. Axcelis Technologies had a return on equity of 10.28% and a net margin of 9.79%. The company had revenue of $122.20 million for the quarter, compared to analyst estimates of $105.74 million. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year.

NASDAQ ACLS traded up $0.36 during trading hours on Thursday, reaching $38.92. The company’s stock had a trading volume of 472,226 shares, compared to its average volume of 496,247. The company has a current ratio of 6.28, a quick ratio of 3.98 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $33.87 and a 200 day simple moving average of $27.29. Axcelis Technologies has a 52 week low of $12.99 and a 52 week high of $40.95. The stock has a market cap of $1.30 billion, a PE ratio of 28.99 and a beta of 1.42.

ACLS has been the topic of a number of recent analyst reports. B. Riley increased their price target on Axcelis Technologies from $43.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 25th. Craig Hallum increased their price target on Axcelis Technologies from $32.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, January 13th. Needham & Company LLC increased their price target on Axcelis Technologies from $37.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, January 21st. Zacks Investment Research upgraded Axcelis Technologies from a “sell” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday. Finally, Benchmark upped their price objective on shares of Axcelis Technologies from $33.00 to $38.00 in a research report on Wednesday, January 13th. Seven analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $40.86.

In other Axcelis Technologies news, Director John T. Kurtzweil sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $27.52, for a total value of $82,560.00. Following the sale, the director now owns 34,439 shares in the company, valued at $947,761.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lynnette C. Fallon sold 28,648 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $26.00, for a total transaction of $744,848.00. The disclosure for this sale can be found here. Insiders sold 50,148 shares of company stock worth $1,334,863 in the last three months. 2.93% of the stock is currently owned by corporate insiders.

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

Axcelis Technologies (NASDAQ:ACLS) Announces Earnings Results, Hits Expectations

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