As of May 8, 2023, Axcelis Technologies (NASDAQ:ACLS) opened at $120.20 per share and steadily climbed throughout the day, reflecting positive investor sentiment towards the semiconductor equipment manufacturer. With a quick ratio of 2.56 and current ratio of 3.49, Axcelis is in a strong financial position to meet its obligations. The company also boasts a debt-to-equity ratio of 0.06, further demonstrating its sound financial structure.
Axcelis Technologies has seen impressive growth over the past year as seen from their stock performance. Their fifty-day moving average stands at $126.67 and two-hundred day moving average comes in at $102.34 while their P/E ratio stands at 21.20 offering investors confidence that the stock market could see more growth through this company’s solid foundation in manufacturing capital equipment for the semiconductor chip manufacturing industry.
Several brokerages have weighed in on ACLS with Needham & Company LLC reiterating its “buy” rating and issuing a target price of $140 on March 28th, indicating further appreciation potential for investors interested in Axcelis Technologies stocks . Meanwhile, StockNews.com recently initiated coverage on Axcelis Technologies with a “hold” rating for the company; DA Davidson similarly reaffirmed its “buy” recommendation for ACLS shares triggering an increased valuation expectation and Craig Hallum raised their price projection from $113 to $140 while Benchmark issued a BUY rating currently targeting prices up to $142 per share based on recent data and previous performances by the manufacturer.
With one research analyst giving it a hold rating and six other firms assigning buy ratings to Axcelis Technologies stocks, Bloomberg reports that analysts have given the company an average target price of $145.33 as well as designating this stock’s consensus rating as Moderate Buy.
Axcelis Technologies boasts an impressive array of products within its ion implantation systems product line, which includes high and medium current as well as energy implanters. Furthermore, the company offers post-sales support services including spare parts, equipment upgrades, maintenance services, used equipment and customer training, effectively building brand loyalty among its customers and ensuring long term revenue streams.
On May 3rd, Axcelis Technologies announced Q2 earnings per share of $1.43 thereby exceeding market hypothesis by $0.18 offer share. The company recorded revenue of $254.02 million for the quarter compared to $239.89 million analysts’ consensus estimates indicating that it is gaining competitive leverage in the market.
As investors constantly search for booming industries with growth potentials, firms like Axcelis Technologies hold significant investment possibilities especially considering the high demand in capital equipment manufacturing for semiconductor fabrication coupled with solid financials and impressive stock performances throughout recent years; this provide a basis for sustainable growth within semiconductor industry stocks consequently leading to potential returns to investors.
Axcelis Technologies Sees Exciting Speculation and Projected Growth in 2023
May 8, 2023 – Axcelis Technologies, Inc. (NASDAQ:ACLS), a prominent semiconductor company, has recently been the subject of excited speculation among investors. B. Riley analyst C. Ellis raised their Q2 2023 earnings per share (EPS) estimates for Axcelis Technologies in a note issued to investors on Thursday May 4th, predicting that the company will earn $1.45 per share for the quarter — this is up from their previous forecast of $1.33.
B. Riley has awarded Axcelis Technologies a “Buy” rating and announced their price objective as $155.00 per stock unit. It should be noted that these projections are not unrealistic; compared to last year’s figures, Axcelis reported revenue growth of more than 50% in Q4 2022.
Experts predict substantial growth throughout 2023 or later; B Riley has also released a series of estimated earnings for Q3 and Q4 respectively, which are considerable at $1.54 EPS and $1.65 EPS, respectively — increasing further into 2024 with projected earnings in the first quarter at $1.58 EPS and reaching peak potential in Q4 with earnings anticipated to reach $2.03 EPS.
It was recently disclosed that several institutional investors have bought and sold shares of Axcelis Technologies; Bessemer Group Inc., Fifth Third Bancorp, Allworth Financial LP, Eagle Bay Advisors LLC and SummerHaven Investment Management LLC all increased their holdings previously held compared to figures released during the last quarter of 2022.
In total, institutional investors make up approximately 86% of Axcelis’ stock supply after increasing their positions throughout last year’s surge in growth which analysts expect will continue well into the following years leading toward a bullish attitude surrounding the company and its shareholders.
Overall B Riley’s increased estimates prove promising for both current and future axcelis shareholders, now is an exciting time for those monitoring or looking to invest in the technology sector and Axcelis could continue to be subject to avid investor speculation throughout 2023.
