ACLS stock received a flurry of analyst actions on December 10, 2021, after Axcelis announced successful completion of a Purion H high current evaluation.
Axcelis price target raised to $76 from $64 at Needham
Needham analyst N. Quinn Bolton raised the firm’s price target on Axcelis to $76 from $64 and keeps a Buy rating on the shares. The analyst cites the company’s investor day presentation that featured an update on its business and introduced two new target models, raising its near-term revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... guidance outlook to $850. Bolton adds that the strong growth in the implant-intensive mature market segment and overall WFE growth have increased the ion implant total addressable market to about $2B.
Axcelis price target raised to $80 from $68 at Craig-Hallum
Craig-Hallum analyst Christian Schwab raised the firm’s price target on Axcelis to $80 from $68 and keeps a Buy rating on the shares. The company introduced two new target business models at its analyst day for ~$850M and $1B in annual revenue, which are targeted to drive EPS of ~$4.25 and ~$5.60 respectively, Schwab tells investors in a research note. Schwab remains very encouraged by the company’s newly outlined target models for multiyear growth and material earnings leverage to targeted EPS levels more than double 2021 expectations at the company’s $1B target model.
Axcelis price target raised to $87 from $82 at B. Riley
B. Riley analyst Craig Ellis raised the firm’s price target on Axcelis s Technologies to $87 from $82 and reiterates a Buy rating on the shares post the analyst day.
Axcelis announces successful completion of a Purion H high current evaluation
On December 6, 2021, Axcelis Technologies announced the successful completion of a Purion H high current tool evaluation at “a leading advanced logic device manufacturer.” The system will support high volume production of logic devices, the company stated. Executive Vice President, Product Development, Bill Bintz, commented, “We’re very excited about the potential of this win, as we see significant opportunities for production buys in 2022 and 2023. The Purion H has an innovative high current implanter architecture, featuring unique scanned spot beam technology, designed for advanced memory and logic applications. The Purion H offers exceptional versatility, throughput and uniformity, enabling chip manufacturers to achieve greater yield with the lowest cost of ownership.”
ACLS Stock Technical Analysis
The long and short term trends are both positive. This is looking good! When comparing the yearly performance of all stocks, we notice that ACLS is one of the better performing stocks in the market, outperforming 97% of all stocks. On top of that, ACLS also shows a nice and consistent pattern of rising prices. ACLS is one of the better performing stocks in the Semiconductors & Semiconductor Equipment industry, it outperforms 89% of 106 stocks in the same industry. There is a support zone ranging from 56.51 to 57.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. Besides having an excellent technical rating, ACLS also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 61.96, a stop order could be placed below this zone. We notice that large players showed an interest for ACLS in the last couple of days, which is a good sign. Click here to sign up for email alerts on when ACLS stock is a good entry.
