Axcelis Technologies (NASDAQ:ACLS) Price Target Increased to $150.00 by Analysts at Bank of America

Axcelis Technologies (NASDAQ:ACLS) had its price objective boosted by Bank of America from $125.00 to $150.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other research firms have also recently commented on ACLS. Needham & Company LLC restated a hold rating on shares of Axcelis Technologies in a research note on Friday, May 3rd. B. Riley upped their price objective on Axcelis Technologies from $155.00 to $175.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Benchmark cut their price objective on Axcelis Technologies from $180.00 to $170.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Finally, Craig Hallum raised 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $158.00.

Axcelis Technologies Price Performance

ACLS stock opened at $155.02 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.87. The business has a 50 day simple moving average of $125.88 and a 200-day simple moving average of $119.42. The firm has a market capitalization of $5.04 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 3.48 and a beta of 1.60. Axcelis Technologies has a 1 year low of $93.77 and a 1 year high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 EPS for the quarter, topping 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 company had revenue of $252.37 million for the quarter, compared to analysts’ expectations of $242.55 million. Equities research analysts anticipate that Axcelis Technologies will post 6.41 earnings per share for the current fiscal year.

Insider Transactions at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,200 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $114.42, for a total transaction of $137,304.00. Following the completion of the sale, the director now owns 33,146 shares in the company, valued at $3,792,565.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On Axcelis Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ACLS. Norges Bank acquired a new position in Axcelis Technologies during the fourth quarter worth $57,105,000. Reinhart Partners LLC. purchased a new position in Axcelis Technologies during the first quarter worth $37,871,000. Jackson Square Partners LLC purchased a new position in Axcelis Technologies during the fourth quarter worth $42,892,000. Vanguard Group Inc. increased its position in Axcelis Technologies by 6.5% during the first quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock worth $480,040,000 after buying an additional 263,604 shares in the last quarter. Finally, Boston Partners purchased a new position in Axcelis Technologies during the first quarter worth $20,819,000. 89.98% of the stock is owned by institutional investors and hedge funds.

Axcelis Technologies Company Profile

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.