Axcelis Technologies (NASDAQ:ACLS) to Buyback $100.00 million in Outstanding Shares

Axcelis Technologies (NASDAQ:ACLS) announced that its board has initiated a stock buyback program on Wednesday, March 12th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ACLS shares. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research note on Wednesday, February 12th. William Blair cut Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Finally, Craig Hallum lowered their price target on Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Axcelis Technologies has an average rating of “Hold” and an average target price of $154.00.

Axcelis Technologies Stock Down 2.1 %

ACLS opened at $58.17 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 4.52 and a beta of 1.62. The firm has a 50-day simple moving average of $65.25 and a two-hundred day simple moving average of $80.19. The company has a quick ratio of 4.05, a current ratio of 5.41 and a debt-to-equity ratio of 0.04. Axcelis Technologies has a 52 week low of $53.67 and a 52 week high of $158.61.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.29. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. Analysts forecast that Axcelis Technologies will post 2.55 earnings per share for the current fiscal year.

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.