Axcelis Technologies (ACLS) Rating Lowered to Sell at BidaskClub

Axcelis Technologies (NASDAQ:ACLS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

ACLS has been the subject of a number of other research reports. B. Riley lowered Axcelis Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $20.00 in a report on Monday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of Axcelis Technologies in a report on Friday, August 3rd. Zacks Investment Research lowered Axcelis Technologies from a “hold” rating to a “sell” rating in a report on Monday, November 5th. ValuEngine lowered Axcelis Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Finally, Benchmark lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.00.

ACLS stock opened at $17.05 on Thursday. The stock has a market cap of $576.29 million, a price-to-earnings ratio of 11.52 and a beta of 0.97. Axcelis Technologies has a twelve month low of $15.72 and a twelve month high of $37.05.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Thursday, November 1st. The semiconductor company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.05. The business had revenue of $95.40 million during the quarter, compared to analyst estimates of $97.82 million. Axcelis Technologies had a return on equity of 13.86% and a net margin of 28.48%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, equities research analysts expect that Axcelis Technologies will post 1.3 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new stake in shares of Axcelis Technologies during the 2nd quarter valued at about $148,000. Bank of Montreal Can bought a new stake in shares of Axcelis Technologies during the 2nd quarter valued at about $161,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Axcelis Technologies by 362.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,363 shares of the semiconductor company’s stock valued at $205,000 after acquiring an additional 8,121 shares during the last quarter. LSV Asset Management bought a new stake in shares of Axcelis Technologies during the 2nd quarter valued at about $209,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Axcelis Technologies during the 2nd quarter valued at about $225,000. Hedge funds and other institutional investors own 84.77% 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 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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