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

Zacks Investment Research lowered shares of Axcelis Technologies (NASDAQ:ACLS) from a hold rating to a sell rating in a research report sent to investors 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. “

ACLS has been the topic of a number of other reports. BidaskClub lowered shares of Axcelis Technologies from a hold rating to a sell rating in a report on Thursday, August 16th. B. Riley lowered shares of Axcelis Technologies from a buy rating to a neutral rating and reduced their price objective for the company from $34.00 to $20.00 in a research note on Monday, October 29th. Needham & Company LLC reaffirmed a buy rating and issued a $27.00 price objective on shares of Axcelis Technologies in a research note on Friday, August 3rd. ValuEngine lowered shares of Axcelis Technologies from a sell rating to a strong sell rating in a research note on Friday, September 7th. Finally, Craig Hallum raised shares of Axcelis Technologies from a hold rating to a buy rating in a research note on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $27.00.

ACLS traded up $0.09 during trading on Monday, reaching $17.87. 4,282 shares of the company’s stock were exchanged, compared to its average volume of 310,932. Axcelis Technologies has a one year low of $15.72 and a one year high of $37.05. The firm has a market capitalization of $559.43 million, a price-to-earnings ratio of 12.03 and a beta of 0.97.

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, topping the Zacks’ consensus estimate of $0.17 by $0.05. Axcelis Technologies had a net margin of 28.48% and a return on equity of 13.86%. The firm had revenue of $95.40 million for the quarter, compared to analyst estimates of $97.82 million. During the same period in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, research analysts expect that Axcelis Technologies will post 1.3 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of ACLS. BlackRock Inc. boosted its stake in shares of Axcelis Technologies by 10.9% in the 2nd quarter. BlackRock Inc. now owns 4,529,402 shares of the semiconductor company’s stock valued at $89,683,000 after purchasing an additional 445,693 shares during the last quarter. LSV Asset Management boosted its stake in shares of Axcelis Technologies by 1,973.6% in the 3rd quarter. LSV Asset Management now owns 219,800 shares of the semiconductor company’s stock valued at $4,319,000 after purchasing an additional 209,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Axcelis Technologies by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,955,604 shares of the semiconductor company’s stock valued at $38,721,000 after purchasing an additional 105,108 shares during the last quarter. Raymond James & Associates bought a new position in Axcelis Technologies during the second quarter worth $1,778,000. Finally, Tenzing Global Management LLC boosted its stake in Axcelis Technologies by 23.1% during the second quarter. Tenzing Global Management LLC now owns 400,000 shares of the semiconductor company’s stock worth $7,920,000 after acquiring an additional 75,000 shares in the last quarter. 84.77% of the stock is currently owned by institutional investors.

About Axcelis Technologies

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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