Needham Sticks to Their Buy Rating for Axcelis Technologies (ACLS)

In a report released today, Quinn Bolton from Needham maintained a Buy rating on Axcelis Technologies (ACLSResearch Report), with a price target of $77.00. The company’s shares closed yesterday at $59.84.

According to TipRanks, Bolton is a top 25 analyst with an average return of 34.0% and a 61.74% success rate. Bolton covers the Technology sector, focusing on stocks such as Intel, Marvell, and Onto Innovation.

Currently, the analyst consensus on Axcelis Technologies is a Strong Buy with an average price target of $87.25.

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Based on Axcelis Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $221.18 million and a net profit of $44.19 million. In comparison, last year the company earned a revenue of $147.27 million and had a net profit of $18.91 million

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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.

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