Axcelis Technologies (NASDAQ:ACLS) Updates Q2 Earnings Guidance

Axcelis Technologies (NASDAQ:ACLS) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of above $1.38 for the period, compared to the consensus EPS estimate of $1.30. The company issued revenue guidance of above $252 million, compared to the consensus revenue estimate of $244.68 million. Axcelis Technologies also updated its Q2 2024 guidance to 1.380- EPS.

Axcelis Technologies Stock Performance

Axcelis Technologies stock opened at $151.06 on Wednesday. The firm’s 50 day simple moving average is $123.86 and its 200-day simple moving average is $119.05. The company has a market cap of $4.91 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 3.44 and a beta of 1.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.87. Axcelis Technologies has a fifty-two week low of $93.77 and a fifty-two week high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.31. The business had revenue of $252.37 million for the quarter, compared to the consensus estimate of $242.55 million. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. As a group, equities research analysts predict that Axcelis Technologies will post 6.41 EPS for the current year.

Analyst Ratings Changes

ACLS has been the topic of several analyst reports. Needham & Company LLC reissued a hold rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. B. Riley boosted their price objective on shares of Axcelis Technologies from $155.00 to $175.00 and gave the company a buy rating in a research report on Thursday, June 20th. Benchmark lowered their price objective on shares of Axcelis Technologies from $180.00 to $170.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Finally, Craig Hallum raised shares of Axcelis Technologies from a hold rating to a buy rating and set a $130.00 price objective on the stock in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $173.00.

Insider Buying and Selling at Axcelis Technologies

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,200 shares of Axcelis Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $114.42, for a total value of $137,304.00. Following the completion of the sale, the director now directly owns 33,146 shares in the company, valued at $3,792,565.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.14% 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 in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.