Axcelis Technologies (NASDAQ:ACLS) Updates Q2 2024 Earnings Guidance

Axcelis Technologies (NASDAQ:ACLS) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.380- for the period, compared to the consensus earnings per share 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 Ratings Changes

A number of brokerages recently commented on ACLS. Needham & Company LLC reaffirmed a hold rating on shares of Axcelis Technologies in a research report on Friday, May 3rd. 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. 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. Finally, 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. Three 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, the company currently has a consensus rating of Moderate Buy and an average price target of $173.00.

Axcelis Technologies Stock Performance

ACLS stock opened at $151.06 on Wednesday. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 3.44 and a beta of 1.60. Axcelis Technologies has a 12 month low of $93.77 and a 12 month high of $201.00. The firm has a 50 day moving average of $123.86 and a two-hundred day moving average of $119.05.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.26 by $0.31. The company had revenue of $252.37 million during 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 analysts anticipate that Axcelis Technologies will post 6.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,200 shares of the business’s 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 of the company’s stock, valued at $3,792,565.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.