Axcelis Technologies (NASDAQ:ACLS) Shares Gap Up – What’s Next?

Axcelis Technologies, Inc. (NASDAQ:ACLS) gapped up prior to trading on Tuesday . The stock had previously closed at $82.74, but opened at $89.44. Axcelis Technologies shares last traded at $84.91, with a volume of 354,109 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ACLS shares. Wall Street Zen upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Axcelis Technologies in a report on Wednesday, October 8th. Zacks Research downgraded shares of Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Benchmark raised shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Thursday, October 2nd. Finally, DA Davidson raised their price objective on shares of Axcelis Technologies from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $97.00.

Axcelis Technologies Stock Up 0.7%

The stock has a market capitalization of $2.62 billion, a P/E ratio of 17.01 and a beta of 1.75. The firm’s fifty day moving average is $86.12 and its 200-day moving average is $73.45. The company has a current ratio of 6.01, a quick ratio of 4.26 and a debt-to-equity ratio of 0.04.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings results on Monday, April 21st. The semiconductor company reported $1.71 earnings per share (EPS) for the quarter. Axcelis Technologies had a net margin of 17.69% and a return on equity of 16.26%. The firm had revenue of $252.42 million during the quarter. As a group, equities research analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Hedge Funds Weigh In On Axcelis Technologies

Institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in Axcelis Technologies during the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its position in Axcelis Technologies by 145.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 451 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 267 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Axcelis Technologies by 50.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 481 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 161 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Axcelis Technologies in the 1st quarter valued at about $38,000. Finally, Parallel Advisors LLC increased its position in Axcelis Technologies by 129.0% in the 2nd quarter. Parallel Advisors LLC now owns 545 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 307 shares in the last quarter. 89.98% of the stock is owned by institutional investors.

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.