Bank of America Increases Axcelis Technologies (NASDAQ:ACLS) Price Target to $150.00

Axcelis Technologies (NASDAQ:ACLS) had its target price increased by stock analysts at Bank of America from $125.00 to $150.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Bank of America‘s target price points to a potential upside of 3.76% from the company’s current price.

ACLS has been the subject of several other reports. Craig Hallum raised shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Friday, May 3rd. B. Riley boosted their target price on Axcelis Technologies from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a report on Friday, May 3rd. Finally, Benchmark decreased their price objective on Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axcelis Technologies has an average rating of “Moderate Buy” and an average target price of $158.00.

Axcelis Technologies Price Performance

Axcelis Technologies stock opened at $144.57 on Wednesday. The firm has a market cap of $4.70 billion, a P/E ratio of 19.10, a P/E/G ratio of 3.48 and a beta of 1.60. The stock’s 50 day moving average is $126.64 and its 200 day moving average is $119.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.87. Axcelis Technologies has a one year low of $93.77 and a one year high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.31. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The company had revenue of $252.37 million for the quarter, compared to analyst estimates of $242.55 million. As a group, research analysts expect that Axcelis Technologies will post 6.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director John T. Kurtzweil sold 1,200 shares of Axcelis Technologies stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $114.42, for a total transaction of $137,304.00. Following the transaction, the director now owns 33,146 shares of the company’s stock, valued at $3,792,565.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in Axcelis Technologies in the 4th quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in shares of Axcelis Technologies by 109.4% in the first quarter. GAMMA Investing LLC now owns 266 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 139 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Axcelis Technologies by 1,188.0% during the fourth quarter. Global Retirement Partners LLC now owns 322 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 297 shares during the last quarter. Blue Trust Inc. lifted its holdings in Axcelis Technologies by 100.7% during the fourth quarter. Blue Trust Inc. now owns 305 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 153 shares during the period. Finally, Private Trust Co. NA boosted its position in Axcelis Technologies by 627.9% in the fourth quarter. Private Trust Co. NA now owns 313 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 270 shares during the last quarter. 89.98% of the stock is owned by institutional investors.

About Axcelis Technologies

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.