Axcelis Technologies (NASDAQ:ACLS – Get Free Report) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.380- for the period, compared to the consensus EPS estimate of 1.300. The company issued revenue guidance of $252.0 million-, compared to the consensus revenue estimate of $244.7 million. Axcelis Technologies also updated its Q2 guidance to above $1.38 EPS.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on ACLS shares. Bank of America raised their price target on Axcelis Technologies from $125.00 to $150.00 and gave the stock a neutral rating in a report on Wednesday. Benchmark lowered their price target on Axcelis Technologies from $180.00 to $170.00 and set a buy rating on the stock in a report on Friday, May 3rd. Needham & Company LLC reissued a hold rating on shares of Axcelis Technologies in a report on Friday, May 3rd. B. Riley raised their price target on Axcelis Technologies from $155.00 to $175.00 and gave the stock a buy rating in a report on Thursday, June 20th. Finally, Craig Hallum raised Axcelis Technologies from a hold rating to a buy rating and set a $130.00 price objective on the stock in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Axcelis Technologies presently has a consensus rating of Moderate Buy and a consensus price target of $158.00.
Read Our Latest Stock Report on ACLS
Axcelis Technologies Stock Down 6.7 %
Axcelis Technologies (NASDAQ:ACLS – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.31. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The firm had revenue of $252.37 million during the quarter, compared to analysts’ expectations of $242.55 million. On average, analysts anticipate that Axcelis Technologies will post 6.41 EPS for the current year.
Insider Activity
In other news, Director John T. Kurtzweil sold 1,200 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $114.42, for a total value of $137,304.00. Following the sale, the director now owns 33,146 shares in the company, valued at approximately $3,792,565.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.
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