Axcelis Technologies Downgraded to Hold by Benchmark

Axcelis Technologies (NASDAQ:ACLS) received a downgrade from Benchmark, with their recommendation shifting from a "buy" rating to a "hold" rating. This change was noted in a recent research report released on Friday.

Alongside Benchmark's assessment, various other equity research analysts have expressed their insights concerning Axcelis Technologies. For instance, DA Davidson raised their price target for the company from $150.00 to $175.00 and maintained their "buy" rating in a research note published on July 15. Similarly, Needham & Company LLC reaffirmed its "hold" rating on the shares in a report released on August 2. In another perspective, Craig Hallum increased their price target for Axcelis from $130.00 to $174.00, also issuing a "buy" rating in their report dated July 12. Finally, B. Riley adjusted their price target downward from $190.00 to $165.00 while holding a "buy" rating on August 2.

Currently, three analysts have rated Axcelis Technologies with a hold rating, whereas four have given it a buy rating. According to MarketBeat, the average rating for Axcelis Technologies stands at "Moderate Buy" with an average price target of approximately $167.33.

Axcelis Technologies Price Performance

On Friday, Axcelis Technologies opened at $87.10. Over the past year, the stock has seen a low of $81.47 and a high of $158.61. As for its moving averages, the stock boasts a 50-day moving average of $97.40 and a two-hundred day average of $113.22. Financial metrics indicate the company possesses a current ratio of 4.42, a quick ratio of 3.26, and a notably low debt-to-equity ratio of 0.05. The firm has a market capitalization of approximately $2.84 billion, with a price-to-earnings ratio of 12.00 and a price-to-earnings-growth ratio of 2.57.

Institutional Activity Involving Axcelis Technologies

Recently, significant changes in institutional holdings have occurred. Signaturefd LLC dramatically increased its stake in Axcelis Technologies by 348.9% during the second quarter, resulting in ownership of 211 shares valued at around $30,000 after acquiring 164 additional shares. Blue Trust Inc. also raised its holdings by 223.8%, owning 272 shares worth approximately $39,000 following an acquisition of 188 shares. Additionally, Ashton Thomas Private Wealth LLC and Meeder Asset Management Inc. each acquired new stakes in the company valued at around $39,000 and $69,000, respectively.

Furthermore, Advisors Asset Management Inc. increased its stake by 17.5%, bringing their total shares owned to 670, valued at about $75,000 after purchasing 100 additional shares. Overall, around 89.98% of Axcelis Technologies' stock is currently held by institutional investors and hedge funds.

About Axcelis Technologies

Axcelis Technologies, Inc. focuses on designing, manufacturing, and servicing ion implantation and other equipment used in semiconductor chip production across the United States, Europe, and Asia Pacific. The company provides a variety of ion implanters tailored for diverse application needs, including high energy, high current, and medium current models.

In summary, analysts’ insights about Axcelis Technologies vary, but the recent downgrade from Benchmark has made waves in the investment community.

Axcelis, Investment, Rating