Axcelis Technologies (NASDAQ:ACLS) Releases Earnings Results, Beats Estimates By $0.33 EPS

Axcelis Technologies (NASDAQ:ACLS) issued its quarterly earnings results on Wednesday. The semiconductor company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.33, Briefing.com reports. Axcelis Technologies had a return on equity of 31.66% and a net margin of 21.78%. The firm had revenue of $252.37 million for the quarter, compared to the consensus estimate of $242.61 million. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Axcelis Technologies updated its Q2 guidance to $1.30 EPS and its Q2 2024 guidance to 1.300-1.300 EPS.

Axcelis Technologies Stock Up 2.1 %

Shares of ACLS stock traded up $2.15 on Thursday, hitting $103.85. The stock had a trading volume of 305,241 shares, compared to its average volume of 660,628. Axcelis Technologies has a one year low of $93.77 and a one year high of $201.00. The business has a 50 day moving average price of $107.85 and a 200 day moving average price of $121.98. The company has a market cap of $3.39 billion, a PE ratio of 12.87, a P/E/G ratio of 1.11 and a beta of 1.64. The company has a quick ratio of 2.71, a current ratio of 3.79 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. B. Riley reduced their target price on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. B. Riley Financial reduced their price target on shares of Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.00.

Insiders Place Their Bets

In other Axcelis Technologies news, EVP Douglas A. Lawson purchased 500 shares of Axcelis Technologies stock in a transaction dated Friday, February 23rd. The stock was acquired at an average price of $111.04 per share, for a total transaction of $55,520.00. Following the acquisition, the executive vice president now owns 19,648 shares in the company, valued at approximately $2,181,713.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.43% of the stock is owned by company insiders.

About Axcelis Technologies

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.