William Blair Analysts Decrease Earnings Estimates for ACLS

Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) - Equities research analysts at William Blair dropped their FY2024 EPS estimates for shares of Axcelis Technologies in a note issued to investors on Wednesday, November 13th. William Blair analyst J. Dorsheimer now forecasts that the semiconductor company will post earnings of $5.86 per share for the year, down from their previous 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.

Other equities analysts have also recently issued reports about the company. B. Riley cut their price target 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 downgraded shares of Axcelis Technologies from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Axcelis Technologies in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $167.33.

Axcelis Technologies Trading Down 7.1 %

Axcelis Technologies stock traded down $5.63 during trading hours on Friday, hitting $73.22. The stock had a trading volume of 1,003,594 shares, compared to its average volume of 634,544. The business's 50 day simple moving average is $95.22 and its 200-day simple moving average is $112.64. Axcelis Technologies has a one year low of $73.15 and a one year high of $158.61. 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 stock has a market cap of $2.38 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 2.46 and a beta of 1.60.

Hedge Funds Weigh In On Axcelis Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pier Capital LLC boosted its stake in Axcelis Technologies by 101.4% in the 3rd quarter. Pier Capital LLC now owns 82,990 shares of the semiconductor company's stock worth $8,702,000 after purchasing an additional 41,782 shares in the last quarter. Kensington Investment Counsel LLC grew its position in Axcelis Technologies by 14.8% during the third quarter. Kensington Investment Counsel LLC now owns 2,313 shares of the semiconductor company's stock valued at $243,000 after buying an additional 299 shares during the period. Weiss Asset Management LP purchased a new position in Axcelis Technologies during the third quarter valued at approximately $13,874,000. State Street Corp lifted its holdings in shares of Axcelis Technologies by 1.5% in the third quarter. State Street Corp now owns 1,233,282 shares of the semiconductor company's stock worth $129,310,000 after buying an additional 18,101 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Axcelis Technologies by 6.5% during the 3rd quarter. Stifel Financial Corp now owns 40,937 shares of the semiconductor company's stock worth $4,292,000 after acquiring an additional 2,492 shares in 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.