Axcelis Technologies (ACLS) Stock Rating Lowered by B. Riley

Axcelis Technologies (NASDAQ:ACLS) was downgraded by equities researchers at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat.com reports. They presently have a $20.00 price target on the semiconductor company’s stock, down from their previous price target of $34.00. B. Riley’s price target indicates a potential upside of 20.34% from the stock’s current price.

Several other brokerages have also weighed in on ACLS. ValuEngine upgraded shares of Axcelis Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Needham & Company LLC restated a “buy” rating and issued a $27.00 price objective on shares of Axcelis Technologies in a report on Friday, August 3rd. BidaskClub downgraded shares of Axcelis Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Craig Hallum raised shares of Axcelis Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $32.00 target price on shares of Axcelis Technologies in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Axcelis Technologies presently has an average rating of “Hold” and an average target price of $27.00.

Shares of NASDAQ ACLS opened at $16.62 on Monday. Axcelis Technologies has a fifty-two week low of $15.72 and a fifty-two week high of $37.05. The company has a market capitalization of $558.78 million, a P/E ratio of 11.23 and a beta of 0.84.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Thursday, August 2nd. The semiconductor company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.08. Axcelis Technologies had a net margin of 28.57% and a return on equity of 16.84%. The business had revenue of $119.30 million for the quarter, compared to analyst estimates of $116.33 million. During the same period in the prior year, the business posted $0.42 earnings per share. Axcelis Technologies’s revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that Axcelis Technologies will post 1.33 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of ACLS. Mount Yale Investment Advisors LLC bought a new stake in shares of Axcelis Technologies during the first quarter worth $143,000. Piedmont Investment Advisors LLC bought a new stake in shares of Axcelis Technologies during the second quarter worth $148,000. Bank of Montreal Can bought a new stake in shares of Axcelis Technologies during the second quarter worth $161,000. Metropolitan Life Insurance Co. NY increased its position in shares of Axcelis Technologies by 362.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 10,363 shares of the semiconductor company’s stock worth $205,000 after acquiring an additional 8,121 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Axcelis Technologies during the second quarter worth $209,000. 84.66% of the stock is owned by hedge funds and other institutional investors.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.

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Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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