Axcelis Technologies, Inc. Forecasted to Earn Q1 2024 Earnings of $1.23 Per Share (NASDAQ:ACLS)

Axcelis Technologies, Inc. (NASDAQ:ACLSFree Report) – DA Davidson issued their Q1 2024 earnings per share estimates for Axcelis Technologies in a research note issued on Friday, February 9th. DA Davidson analyst T. Diffely expects that the semiconductor company will post earnings of $1.23 per share for the quarter. The consensus estimate for Axcelis Technologies’ current full-year earnings is $7.25 per share. DA Davidson also issued estimates for Axcelis Technologies’ FY2024 earnings at $6.75 EPS.

Axcelis Technologies (NASDAQ:ACLSGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.17. Axcelis Technologies had a return on equity of 31.66% and a net margin of 21.78%. The business had revenue of $310.29 million for the quarter, compared to the consensus estimate of $297.92 million. During the same quarter in the previous year, the company posted $1.71 earnings per share. Axcelis Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the company. B. Riley cut their price objective on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Friday. B. Riley Financial cut their price objective on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America cut Axcelis Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, December 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.43.

View Our Latest Research Report on Axcelis Technologies

Axcelis Technologies Stock Performance

ACLS opened at $122.32 on Monday. The company has a market cap of $4.01 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.53 and a beta of 1.69. The stock has a 50-day moving average of $128.00 and a 200-day moving average of $147.63. Axcelis Technologies has a 52-week low of $105.28 and a 52-week high of $201.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.71 and a current ratio of 3.79.

Institutional Investors Weigh In On Axcelis Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Axcelis Technologies by 1.8% in the 2nd quarter. BlackRock Inc. now owns 5,533,573 shares of the semiconductor company’s stock valued at $1,014,470,000 after acquiring an additional 98,534 shares during the period. Vanguard Group Inc. grew its holdings in shares of Axcelis Technologies by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,957,174 shares of the semiconductor company’s stock worth $179,085,000 after purchasing an additional 180,011 shares in the last quarter. State Street Corp grew its holdings in shares of Axcelis Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 1,132,668 shares of the semiconductor company’s stock worth $68,594,000 after purchasing an additional 19,207 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Axcelis Technologies by 17.1% during the 3rd quarter. Invesco Ltd. now owns 970,409 shares of the semiconductor company’s stock worth $158,225,000 after purchasing an additional 141,372 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of Axcelis Technologies by 2.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 746,503 shares of the semiconductor company’s stock worth $136,856,000 after purchasing an additional 17,862 shares in the last quarter. 88.93% of the stock is owned by institutional investors and hedge funds.

Axcelis Technologies Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Axcelis Technologies (NASDAQ:ACLS)

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