After Needham and Stifel Nicolaus gave Axcelis Technologies (NASDAQ: ACLS) a Buy rating last month, the company received another Buy, this time from Benchmark Co. Analyst Mark Miller maintained a Buy rating on Axcelis Technologies today and set a price target of $50.00. The company’s shares closed last Wednesday at $39.93.
According to TipRanks.com, Miller is a top 100 analyst with an average return of 25.3% and a 68.1% success rate. Miller covers the Technology sector, focusing on stocks such as MKS Instruments, Western Digital, and Onto Innovation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Axcelis Technologies with a $50.00 average price target, which is a 20.4% upside from current levels. In a report issued on April 21, Needham also maintained a Buy rating on the stock with a $47.00 price target.
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Axcelis Technologies’ market cap is currently $1.35B and has a P/E ratio of 28.40. The company has a Price to Book ratio of 2.91.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACLS in relation to earlier this year. Most recently, in February 2021, Arthur George, a Director at ACLS sold 10,000 shares for a total of $370,400.
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Axcelis Technologies, Inc. engages in the design, manufacture and service of dry strip, ion implantation and other processing equipment used in the fabrication of semiconductor chips. It provides service and support, including spare parts, equipment upgrades, maintenance services and customer training. The firms’ products include Purion H, which is next generation single wafer high current implanter; Optima HDx, is designed to maximize beam current, minimize beam setup time and deliver productive process across the applications space; Purion XE, is next generation single wafer high energy implanter, it is the second tool in the expanding family of Purion ion implanters; Optima XEx, includes implant energies matched to meet the changing needs of today’s advanced device manufacturing; Paradigm XE, offers implant energies matched to meet the changing needs of advanced logic and memory manufacturing and Purion M, is a low energy, medium current ion implanter for all channel engineering applications in the low dose and mid dose regimes. It also sells equipment and services through direct sales, distributors and manufacturing representatives. The company was founded in 1978 and is headquartered in Beverly, MA.
