Axcelis Technologies (ACLS) Downgraded by Zacks Investment Research to Sell

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Zacks Investment Research cut shares of Axcelis Technologies (NASDAQ:ACLS) from a hold rating to a sell rating in a report issued on Monday morning.

According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “

Other research analysts have also issued reports about the company. ValuEngine lowered Axcelis Technologies from a hold rating to a sell rating in a report on Monday, August 13th. BidaskClub upgraded Axcelis Technologies from a sell rating to a hold rating in a report on Tuesday, September 18th. Benchmark reiterated a buy rating and set a $32.00 price target on shares of Axcelis Technologies in a report on Friday, August 3rd. Finally, Craig Hallum upgraded Axcelis Technologies from a hold rating to a buy rating in a report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $27.00.

Shares of ACLS stock traded down $0.05 during trading hours on Monday, reaching $17.23. 4,206 shares of the company’s stock were exchanged, compared to its average volume of 312,345. Axcelis Technologies has a fifty-two week low of $15.72 and a fifty-two week high of $37.05. The firm has a market cap of $584.83 million, a PE ratio of 11.67 and a beta of 0.97.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Axcelis Technologies had a return on equity of 13.86% and a net margin of 28.48%. The company had revenue of $95.40 million during the quarter, compared to analyst estimates of $97.82 million. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, equities analysts expect that Axcelis Technologies will post 1.31 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. raised its stake in shares of Axcelis Technologies by 13.4% in the second quarter. Alps Advisors Inc. now owns 20,773 shares of the semiconductor company’s stock valued at $596,000 after purchasing an additional 2,457 shares in the last quarter. Globeflex Capital L P raised its stake in shares of Axcelis Technologies by 13.6% in the second quarter. Globeflex Capital L P now owns 22,600 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 2,700 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Axcelis Technologies by 4.8% in the first quarter. Legal & General Group Plc now owns 59,434 shares of the semiconductor company’s stock valued at $1,441,000 after purchasing an additional 2,747 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Axcelis Technologies by 34.9% in the second quarter. OppenheimerFunds Inc. now owns 13,469 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 3,486 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Axcelis Technologies by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 171,176 shares of the semiconductor company’s stock valued at $3,390,000 after purchasing an additional 3,618 shares in the last quarter. Institutional investors and hedge funds 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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