Zacks: Analysts Expect Axcelis Technologies Inc (ACLS) Will Announce Quarterly Sales of $99.70 Million

Brokerages predict that Axcelis Technologies Inc (NASDAQ:ACLS) will report sales of $99.70 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Axcelis Technologies’ earnings, with estimates ranging from $99.10 million to $100.00 million. Axcelis Technologies reported sales of $116.40 million in the same quarter last year, which indicates a negative year-over-year growth rate of 14.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 5th.

On average, analysts expect that Axcelis Technologies will report full year sales of $436.57 million for the current year, with estimates ranging from $436.00 million to $436.90 million. For the next year, analysts forecast that the firm will post sales of $455.23 million, with estimates ranging from $440.70 million to $470.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Axcelis Technologies.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Thursday, November 1st. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $97.82 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was down 8.7% on a year-over-year basis.

ACLS has been the subject of a number of research analyst reports. ValuEngine cut Axcelis Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. BidaskClub raised Axcelis Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of Axcelis Technologies in a research note on Friday, August 3rd. Benchmark reaffirmed a “buy” rating and set a $32.00 price objective on shares of Axcelis Technologies in a research report on Friday, August 3rd. Finally, B. Riley cut Axcelis Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $20.00 in a research report on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Axcelis Technologies presently has an average rating of “Hold” and an average price target of $27.00.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Axcelis Technologies by 4.1% during the third quarter. BlackRock Inc. now owns 4,716,438 shares of the semiconductor company’s stock worth $92,677,000 after buying an additional 187,036 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Axcelis Technologies by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,955,604 shares of the semiconductor company’s stock worth $38,721,000 after buying an additional 105,108 shares during the period. Peregrine Capital Management LLC boosted its position in shares of Axcelis Technologies by 2.7% during the third quarter. Peregrine Capital Management LLC now owns 839,925 shares of the semiconductor company’s stock worth $16,505,000 after buying an additional 22,101 shares during the period. Millennium Management LLC boosted its position in shares of Axcelis Technologies by 19.1% during the first quarter. Millennium Management LLC now owns 571,105 shares of the semiconductor company’s stock worth $14,049,000 after buying an additional 91,666 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Axcelis Technologies by 11.8% during the second quarter. Bank of New York Mellon Corp now owns 414,694 shares of the semiconductor company’s stock worth $8,211,000 after acquiring an additional 43,870 shares in the last quarter. 84.77% of the stock is owned by institutional investors.

NASDAQ:ACLS traded down $0.58 on Friday, reaching $17.05. The company’s stock had a trading volume of 139,120 shares, compared to its average volume of 306,136. Axcelis Technologies has a 1-year low of $15.72 and a 1-year high of $37.05. The stock has a market cap of $576.29 million, a price-to-earnings ratio of 11.52 and a beta of 0.97.

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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