William Blair Issues Pessimistic Forecast for ACLS Earnings

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Equities research analysts at William Blair cut their FY2024 EPS estimates for Axcelis Technologies in a report released on Wednesday, November 13th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will earn $5.86 per share for the year, down from their prior estimate of $6.04. The consensus estimate for Axcelis Technologies’ current full-year earnings is $5.90 per share. William Blair also issued estimates for Axcelis Technologies’ Q4 2024 earnings at $1.25 EPS.

Several other equities analysts have also issued reports on the company. B. Riley dropped their price target on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a report on Friday, November 8th. Finally, Benchmark downgraded shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Axcelis Technologies has an average rating of “Moderate Buy” and a consensus target price of $167.33.

Axcelis Technologies Stock Down 7.1 %

Shares of NASDAQ:ACLS opened at $73.22 on Friday. Axcelis Technologies has a 1 year low of $73.15 and a 1 year high of $158.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.45 and a quick ratio of 3.29. The business’s 50-day moving average is $95.22 and its 200-day moving average is $112.64. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 2.46 and a beta of 1.60.

Hedge Funds Weigh In On Axcelis Technologies

Several large investors have recently added to or reduced their stakes in the business. Pier Capital LLC raised its holdings in shares of Axcelis Technologies by 101.4% in the third quarter. Pier Capital LLC now owns 82,990 shares of the semiconductor company’s stock valued at $8,702,000 after purchasing an additional 41,782 shares during the last quarter. Kensington Investment Counsel LLC increased its stake in Axcelis Technologies by 14.8% in the 3rd quarter. Kensington Investment Counsel LLC now owns 2,313 shares of the semiconductor company’s stock valued at $243,000 after buying an additional 299 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Axcelis Technologies during the 3rd quarter worth approximately $13,874,000. State Street Corp grew its holdings in shares of Axcelis Technologies by 1.5% in the third quarter. State Street Corp now owns 1,233,282 shares of the semiconductor company’s stock valued at $129,310,000 after acquiring an additional 18,101 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Axcelis Technologies by 6.5% during the third quarter. Stifel Financial Corp now owns 40,937 shares of the semiconductor company’s stock valued at $4,292,000 after acquiring an additional 2,492 shares during the last quarter. Institutional investors own 89.98% 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 in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.