Axcelis Technologies Inc (ACLS) is Reiterated by Needham to Buy, Raises Price Target to $ 17

Axcelis Technologies Inc (ACLS) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 17 from a previous price target of $15 . Needham advised their investors in a research report released on Oct 5, 2016.

On the company’s financial health, Axcelis Technologies Inc reported $0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.04. The company had revenue of $64.45 million for the quarter, compared to analysts expectations of $65.43 million. The company’s revenue was down -17.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS.

Axcelis Technologies Inc closed down -0.14 points or -1.01% at $13.75 with 1,97,846 shares getting traded on Tuesday. Post opening the session at $14, the shares hit an intraday low of $13.67 and an intraday high of $14.14 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 10, 2016, William J Bintz (EVP, Engineering and Marketing) sold 25,750 shares at $11.98 per share price. According to the SEC, on Aug 8, 2016, Arthur L Jr George (director) purchased 5,000 shares at $11.25 per share price. On May 9, 2016, Douglas A. Lawson (EVP, Corporate Mktg & Strategy) purchased 5,000 shares at $2.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Axcelis Technologies Inc. designs manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company sells its equipment to semiconductor chip manufacturers across the world. In addition to equipment it provides aftermarket lifecycle products and services including used tools spare parts equipment upgrades maintenance services and customer training. Its customers are located in the United States Europe and Asia Pacific. The Company offers a line of high energy high current and medium current implanters for all application requirements. Its newest systems are all based on a common Purion platform which offers purity precision and productivity by combining a single wafer end station enabling unmatched throughput (500 wafers per hour) and a spot beam. Its Purion XE is the high energy system which combines Axcelis’ production-proven RF Linac high energy spot beam technology with the Purion platform.

Axcelis Technologies Inc

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