Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Ribbon Communications Inc (RBBN) and Axcelis Technologies (ACLS).
Ribbon Communications Inc (RBBN)
Northland Securities analyst Michael Latimore maintained a Buy rating on Ribbon Communications Inc today and set a price target of $9. The company’s shares closed yesterday at $4.55, close to its 52-week low of $4.23.
Latimore noted:
“We believe they also continue to have the same revenue outlook for FY19.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 12.5% and a 54.7% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.
Ribbon Communications Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9.
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Axcelis Technologies (ACLS)
In a report released today, Gus Richard from Northland Securities maintained a Hold rating on Axcelis Technologies, with a price target of $15. The company’s shares closed yesterday at $15.09, close to its 52-week low of $14.47.
Richard commented:
“We understand that it is a slip of one high energy implant tool out of the quarter due to a customer fab delay. High energy implant is one of the highest margin products that the company sells. We trim our gross margin assumption by 100 bps due to an expected weaker mix of revenue in the quarter. We don’t think there is a big fundamental shift but more a function of small numbers. ACLS spares and service revenue is roughly $35M/Q. Thus, new tools revenue in Q2 is likely $40M and the company will likely ship between 10 and 15 tools this quarter. Thus, a slip of a single tool has measurable impact on earnings.”
According to TipRanks.com, Richard is a 5-star analyst with an average return of 23.2% and a 68.8% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Quantenna Communications, and Akoustis Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Axcelis Technologies with a $22.33 average price target.
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