Axcelis Technologies Inc. (NASDAQ: ACLS) stock jumped 0.76% on Monday to $168.54 against a previous-day closing price of $167.27. With 0.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.54 million shares. During the session, the Semiconductor Equipment & Materials company that operates in wider Technology sector, reached to the highest price of $170.90 whereas the lowest price it dropped to was $164.41. The 52-week range on ACLS shows that it touched its highest point at $201.00 and its lowest point at $49.78 during that stretch. It currently has a 1-year price target of $216.00. Beta for the stock currently stands at 1.75.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACLS was down-trending over the past week, with a drop of -4.84%, but this was up by 5.45% over a month. Three-month performance dropped to -0.32% while six-month performance rose 31.45%. The stock gained 172.98% in the past year, while it has gained 112.37% so far this year. A look at the trailing 12-month EPS for ACLS yields 6.21 with Next year EPS estimates of 8.07. For the next quarter, that number is 1.73. This implies an EPS growth rate of 89.60% for this year and 14.67% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.10%.
Float and Shares Shorts:
At present, 32.77 million ACLS shares are outstanding with a float of 32.46 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.36 million, which was 4.14% higher than short shares on Jul 30, 2023. In addition to Ms. Mary G. Puma as the firm’s Exec. Chairperson, Dr. Russell J. Low Ph.D. serves as its CEO, Pres & Director.
Through their ownership of 90.62% of ACLS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.57% of ACLS, in contrast to 32.68% held by mutual funds. Shares owned by individuals account for 2.20%. As the largest shareholder in ACLS with 14.69% of the stake, BlackRock Fund Advisors holds 4,819,436 shares worth 4,819,436. A second-largest stockholder of ACLS, The Vanguard Group, Inc., holds 3,890,465 shares, controlling over 11.86% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ACLS, holding 1,123,612 shares or 3.42% stake. With a 7.03% stake in ACLS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,307,386 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of ACLS stock, is the second-largest Mutual Fund holder. It holds 1,018,017 shares valued at 195.61 million. PRIMECAP Odyssey Aggressive Growt holds 3.07% of the stake in ACLS, owning 1,008,046 shares worth 193.7 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ACLS reported revenue of $221.18M and operating income of $54.15M. The EBITDA in the recently reported quarter was $49.45M and diluted EPS was $1.32.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACLS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACLS analysts setting a high price target of $240.00 and a low target of $175.00, the average target price over the next 12 months is $216.00. Based on these targets, ACLS could surge 42.4% to reach the target high and rise by 3.83% to reach the target low. Reaching the average price target will result in a growth of 28.16% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ACLS stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 375 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 99 over the past year. The total number of shares bought during that period was 65,303 while 383,815 shares were sold.