Fintel reports that on May 3, 2024, Craig-Hallum upgraded their outlook for Axcelis Technologies (NasdaqGS:ACLS) from Hold to Buy.
Analyst Price Forecast Suggests 46.34% Upside
As of May 2, 2024, the average one-year price target for Axcelis Technologies is 156.06. The forecasts range from a low of 116.15 to a high of $189.00. The average price target represents an increase of 46.34% from its latest reported closing price of 106.64.
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The projected annual revenue for Axcelis Technologies is 1,023MM, a decrease of 9.39%. The projected annual non-GAAP EPS is 6.38.
What is the Fund Sentiment?
There are 863 funds or institutions reporting positions in Axcelis Technologies. This is an decrease of 22 owner(s) or 2.49% in the last quarter. Average portfolio weight of all funds dedicated to ACLS is 0.22%, an increase of 22.71%. Total shares owned by institutions increased in the last three months by 0.30% to 34,582K shares. 
The put/call ratio of ACLS is 0.57, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 2,190K shares representing 6.72% ownership of the company. In its prior filing, the firm reported owning 2,216K shares , representing a decrease of 1.20%. The firm decreased its portfolio allocation in ACLS by 32.03% over the last quarter.
Primecap Management holds 1,042K shares representing 3.20% ownership of the company. In its prior filing, the firm reported owning 1,046K shares , representing a decrease of 0.38%. The firm decreased its portfolio allocation in ACLS by 25.68% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,025K shares representing 3.14% ownership of the company. In its prior filing, the firm reported owning 1,021K shares , representing an increase of 0.39%. The firm decreased its portfolio allocation in ACLS by 28.64% over the last quarter.
POAGX – PRIMECAP Odyssey Aggressive Growth Fund holds 974K shares representing 2.99% ownership of the company. In its prior filing, the firm reported owning 977K shares , representing a decrease of 0.29%. The firm decreased its portfolio allocation in ACLS by 5.69% over the last quarter.
IWM – iShares Russell 2000 ETF holds 862K shares representing 2.64% ownership of the company. In its prior filing, the firm reported owning 755K shares , representing an increase of 12.34%. The firm decreased its portfolio allocation in ACLS by 29.84% over the last quarter.
Axcelis Technologies Background Information
(This description is provided by the company.)
Axcelis Technologies Inc., headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 40 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process.
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This story originally appeared on Fintel.
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