As of April 26, 2023, the semiconductor industry is buzzing with enthusiasm over Axcelis Technologies, Inc. (NASDAQ:ACLS), a company well-known for its commitment to manufacturing capital equipment for the semiconductor chip-making sector. As reported by Bloomberg, this tech giant stocks have earned an average rating of “Moderate Buy” from seven brokerages covering it. Of these report providers, six have given a buy recommendation to Axcelis Technologies while one has rated its stock with a hold recommendation.
Industry experts believe that this boost in confidence from analysts can be attributed to Axcelis Technologies’ exceptional ion implantation systems product line. The company’s High and Medium Current Energy Implanters have received rave reviews from customers worldwide due to their cutting-edge technology and performance capabilities.
Its exceptional range of post-sales equipment services such as spare parts, upgrades, used tools, maintenance services, and customer training further adds to its list of reasons behind its outstanding score.
Buoying up this optimism even more are recent changes in investment patterns among larger investors. Driehaus Capital Management LLC has announced a 65.9% growth in holdings in shares of Axcelis Technologies during the fourth quarter, bringing the total worth owned by it to $89.951 million after purchasing an additional 450,382 shares then.
Victory Capital Management Inc., holding stock valued at $20.813 million after gaining membership in Axcelis Technologies’ ownership circle last third quarter via purchasing estimatedly around 343666 shares allegedly hiking their holdings by a whopping percentage point hike of 1590%. Senvest Management LLC also increased investment by 18.3%, boosting holdings to1,786,434 shares worth around $141.771 million.
Rounding out these accumulators on January 2023 was Neumeier Poma Investment Counsel LLC increasing shares at stake by purchasing new ones amounting to an estimatedly bet of $20,964,000. Lastly, Vanguard Group Inc. reportedly growing its share ownership by 6.5% last third quarter- now owns an approximate of $179.085 million worth of Axcelis Technologies stockholding.
With majority shares being owned by institutional investors and hedge funds that bring so much value to the company, industry experts predict only more success for Axcelis Technologies Inc. As per the report’s average one-year price objective from analysts that have recently updated coverage on the stock in the past year – is slated at a staggering $145.40, firmly putting Axcelis Technologies’ place as one of the top tech players for Q2 2023 and beyond.
Axcelis Technologies: A Leader in Semiconductor Chip Manufacturing
Axcelis Technologies: A Booming Semiconductor Company
Axcelis Technologies, a Massachusetts-based capital equipment manufacturer for the semiconductor chip industry, has been making headlines in recent months. Loop Capital initiated coverage on the company in February with a “buy” rating and a price objective of $150.00 per share, while Needham & Company LLC reaffirmed a similar rating and issued a $140.00 price objective just one month later.
B. Riley also upped their price objective on Axcelis Technologies from $115.00 to $155.00, further cementing their optimism buy rating for the company’s stock.
In March, DA Davidson reaffirmed yet another “buy” rating on Axcelis Technologies’ shares after director Tzu Yin Chiu sold 1,700 shares of the business’s stock in early February worth $216,104
Despite reaching an all-time high of $136.38 last year, at the time of writing this report, ACLS has slowed down slightly, showing opening figures of only $118.94 today.
The company offerings include ion implantation systems product line that comprises of high and medium current and energy implanters alongside post-sales equipment service parts such as spare parts and used equipment sales options to customers.
However, despite this slight dip in share prices; things are looking bright for Axcelis Technologies (NASDAQ:ACLS) after releasing its quarterly earnings data on Thursday, February 9th – with analysts subsequently anticipating a 5.55 earnings per share projection for the current fiscal year.
Furthermore, the noted debt-to-equity ratio of 0.07 provides confidence in their overall financial record that is backed up by an excellent market cap figure of $3.89 billion and solid P:E ratio at 21.78.
Having excelled last quarter with reported revenue resulting in a whopping 29.3% increase compared to the same period last year coupled with a return on equity of 30.16%, Axcelis Technologies is rapidly carving out a place for itself within the semi-conductor landscape.
With loop capital signalling towards an upward trend; B.Riley and Benchmark reiterating strong buy ratings, it seems that the market and its players are all in agreement: Axcelis Technologies has established itself as a leader in the industry, and is well worth keeping an eye on over the coming months.
