Shares of Axcelis Technologies Inc. (ACLS) climbed over 6% in early trading Wednesday to a new 2-month high of $2.03, boosted by Stifel analysts who initiated coverage on the stock with a ‘Buy’ rating and price target of $3.00 per share. In a note to clients, the broker said the ‘Buy’ rating and $3.00 price target is based on the company’s new product introductions on the “Purion platform”, which could lead growth for the firm’s top and bottom line going forward.
Axcelis Technologies, valued at $223 million, opened at $1.92/share. During Wednesday’s Nas session ticker has been trading between $1.92 to $2.03 with its 52-week range being $1.50 to $2.58.
The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.
ACLS has a t-12 price/sales ratio of 1.02. EPS for the same period registers negative at ($0.08). Net profit margin currently stands negative at (5.19%) whereas its operating margin is (3.34).
Axcelis Technologies, Inc. manufactures and services ion implantation, dry strip, and other processing equipment used in the fabrication of semiconductor chips worldwide. The company was founded in 1995 and is headquartered in Beverly, Massachusetts.