Axcelis Technologies (NASDAQ:ACLS) Updates Q2 2022 Earnings Guidance – MarketBeat

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Axcelis Technologies (NASDAQ:ACLS – Get Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.00- for the period, compared to the consensus estimate of $0.99. The company issued revenue guidance of $215.00M-, compared to the consensus revenue estimate of $209.86 million. Axcelis Technologies also updated its FY 2022 guidance to EPS.
Several research analysts have weighed in on the stock. B. Riley lowered their target price on shares of Axcelis Technologies from $98.00 to $80.00 and set a buy rating on the stock in a research report on Wednesday, June 15th. StockNews.com upgraded Axcelis Technologies from a buy rating to a strong-buy rating in a report on Friday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $75.75.
ACLS stock opened at $51.10 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 3.02. The company’s 50 day simple moving average is $56.38 and its 200-day simple moving average is $62.90. Axcelis Technologies has a 12 month low of $33.36 and a 12 month high of $83.74. The firm has a market capitalization of $1.69 billion, a PE ratio of 14.08 and a beta of 1.65.
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Axcelis Technologies (NASDAQ:ACLS – Get Rating) last posted its earnings results on Wednesday, May 4th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.30. Axcelis Technologies had a return on equity of 23.53% and a net margin of 16.88%. The firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $193.12 million. During the same quarter in the prior year, the company earned $0.48 EPS. Axcelis Technologies’s revenue was up 53.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Axcelis Technologies will post 4.4 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of ACLS. JPMorgan Chase & Co. boosted its position in Axcelis Technologies by 24.8% during the first quarter. JPMorgan Chase & Co. now owns 55,943 shares of the semiconductor company’s stock worth $4,226,000 after acquiring an additional 11,111 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Axcelis Technologies by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 332,749 shares of the semiconductor company’s stock worth $25,133,000 after purchasing an additional 2,067 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Axcelis Technologies in the first quarter valued at $624,000. Cambridge Investment Research Advisors Inc. increased its stake in Axcelis Technologies by 89.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,882 shares of the semiconductor company’s stock valued at $595,000 after purchasing an additional 3,728 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Axcelis Technologies by 10.9% during the first quarter. Citigroup Inc. now owns 35,302 shares of the semiconductor company’s stock worth $2,666,000 after buying an additional 3,484 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.
Axcelis Technologies Company Profile (Get Rating)
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. The company offers high energy, high current, and medium current implanters for various application requirements.
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