Research Analysts Offer Predictions for ACLS FY2024 Earnings

Axcelis Technologies, Inc. (NASDAQ:ACLS) – Equities research analysts at William Blair lowered their FY2024 earnings estimates for shares of Axcelis Technologies in a report issued on Wednesday, November 13th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will post earnings per share of $5.86 for the year, down from their prior estimate of $6.04. The consensus estimate for Axcelis Technologies’ current full-year earnings is $5.90 per share. William Blair also issued estimates for Axcelis Technologies’ Q4 2024 earnings at $1.25 EPS.

ACLS has been the topic of several other research reports. B. Riley cut their price objective on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Benchmark cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.33.

Axcelis Technologies Stock Down 7.1 %

Shares of NASDAQ ACLS opened at $73.22 on Friday. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $94.75 and its two-hundred day moving average is $112.42. Axcelis Technologies has a 52-week low of $73.15 and a 52-week high of $158.61. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 2.46 and a beta of 1.60.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Axcelis Technologies by 3.3% in the third quarter. Geode Capital Management LLC now owns 874,516 shares of the semiconductor company’s stock valued at $91,708,000 after acquiring an additional 28,141 shares in the last quarter. Pier Capital LLC increased its position in shares of Axcelis Technologies by 101.4% in the 3rd quarter. Pier Capital LLC now owns 82,990 shares of the semiconductor company’s stock valued at $8,702,000 after purchasing an additional 41,782 shares during the last quarter. Kensington Investment Counsel LLC raised its holdings in shares of Axcelis Technologies by 14.8% in the 3rd quarter. Kensington Investment Counsel LLC now owns 2,313 shares of the semiconductor company’s stock valued at $243,000 after purchasing an additional 299 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Axcelis Technologies during the third quarter worth $13,874,000. Finally, State Street Corp increased its holdings in Axcelis Technologies by 1.5% in the third quarter. State Street Corp now owns 1,233,282 shares of the semiconductor company’s stock valued at $129,310,000 after buying an additional 18,101 shares during the last quarter. Hedge funds and other institutional investors own 89.98% 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.