William Blair Has Bearish Forecast for ACLS FY2024 Earnings

Axcelis Technologies, Inc. (NASDAQ:ACLS) – William Blair reduced their FY2024 earnings per share estimates for Axcelis Technologies in a note issued to investors on Wednesday, November 13th. William Blair analyst J. Dorsheimer now expects that the semiconductor company will earn $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 research analysts have also recently issued research reports about the stock. Benchmark cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a report on Friday, November 8th. Finally, B. Riley cut their price target on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.33.

Axcelis Technologies Stock Performance

ACLS opened at $73.22 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.45 and a quick ratio of 3.29. The company has a market capitalization of $2.38 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 2.46 and a beta of 1.60. The business has a fifty day simple moving average of $95.22 and a 200 day simple moving average of $112.64. Axcelis Technologies has a 1 year low of $73.15 and a 1 year high of $158.61.

Institutional Trading of Axcelis Technologies

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Axcelis Technologies by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock worth $480,040,000 after buying an additional 263,604 shares during the period. State Street Corp lifted its holdings in shares of Axcelis Technologies by 1.5% during the third quarter. State Street Corp now owns 1,233,282 shares of the semiconductor company’s stock worth $129,310,000 after purchasing an additional 18,101 shares during the period. Reinhart Partners LLC. grew its stake in shares of Axcelis Technologies by 64.1% in the third quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company’s stock worth $72,096,000 after purchasing an additional 268,560 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Axcelis Technologies by 12.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 510,894 shares of the semiconductor company’s stock valued at $53,568,000 after purchasing an additional 55,048 shares during the period. Finally, Boston Trust Walden Corp bought a new position in Axcelis Technologies during the 3rd quarter worth $53,099,000. 89.98% of the stock is owned by institutional investors and hedge funds.

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.