Axcelis Technologies (NASDAQ:ACLS – Get Free Report) announced its quarterly earnings results on Thursday. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17, FiscalAI reports. The firm had revenue of $215.18 million during the quarter, compared to the consensus estimate of $205.03 million. Axcelis Technologies had a return on equity of 11.69% and a net margin of 10.71%.The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. Axcelis Technologies updated its Q3 2026 guidance to 1.110-1.110 EPS.
Here are the key takeaways from Axcelis Technologies’ conference call:
- Second-quarter results exceeded expectations, with revenue of $215 million and adjusted EPS of $1.06. CS&I strength, improved power demand, and operational execution supported the outperformance.
- Management raised its 2026 outlook to approximately mid-single-digit revenue growth, compared with its prior expectation for flat revenue, and expects fourth-quarter revenue to increase sequentially. The company also anticipates another year of revenue growth in 2027.
- Memory demand remains robust despite quarter-to-quarter lumpiness, with strong DRAM and high-bandwidth memory investment expected to drive momentum into 2027. Axcelis is expanding its memory customer base, including additional orders from a leading North American memory manufacturer.
- Power markets are recovering, with strength in both silicon carbide and silicon applications. Secular opportunities include electric vehicles, 800-volt data-center infrastructure, industrial applications, and next-generation high-energy implant technologies.
- The pending Veeco merger remains subject to outstanding regulatory requirements, including approval in China, and is still expected to close in the second half of 2026. Management declined to answer transaction-related questions.
Axcelis Technologies Trading Up 2.6%
NASDAQ ACLS opened at $140.27 on Friday. Axcelis Technologies has a one year low of $73.60 and a one year high of $193.78. The firm has a market cap of $4.31 billion, a PE ratio of 47.07, a P/E/G ratio of 9.68 and a beta of 1.92. The firm’s fifty day moving average is $152.46 and its two-hundred day moving average is $124.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.99 and a current ratio of 4.90.
Axcelis Technologies News Summary
- Positive Sentiment: Q2 earnings and revenue beat estimates. Axcelis reported revenue of $215.2 million, up 10.6% year over year, while non-GAAP diluted EPS was $1.06 versus the $0.89 consensus estimate. Non-GAAP gross and operating margins were 42.7% and 14.7%, respectively. Axcelis Announces Financial Results for Second Quarter 2026
- Positive Sentiment: Q3 guidance exceeded analyst expectations. Management forecast EPS of approximately $1.11 and revenue of $230 million, above consensus estimates of $1.01 and $214.8 million. The company also raised its full-year 2026 outlook to mid-single-digit revenue growth, improving visibility for investors. Axcelis expects Q3 2026 EPS of about $1.11 as it lifts full-year 2026 outlook
- Neutral Sentiment: Investors are weighing the semiconductor capital-spending outlook. Recent analysis highlights Axcelis’s exposure to the ongoing chip-manufacturing buildout but questions whether the equipment-spending cycle can continue supporting growth. This remains an important longer-term factor for ACLS. Can Axcelis Technologies Keep Riding the Semiconductor Capital Spending Wave?
- Negative Sentiment: Craig Hallum downgraded ACLS from Buy to Hold and assigned a $140 price target, suggesting limited near-term upside at the time of the report. The downgrade may temper enthusiasm following the earnings beat, particularly given the stock’s elevated valuation and recent volatility. Finviz
Insider Activity
In other Axcelis Technologies news, Director Gregory B. Graves sold 3,225 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $141.61, for a total transaction of $456,692.25. Following the completion of the sale, the director directly owned 5,473 shares of the company’s stock, valued at approximately $775,031.53. This trade represents a 37.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd Sutton sold 2,574 shares of Axcelis Technologies stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $163.89, for a total value of $421,852.86. Following the completion of the transaction, the vice president owned 7,817 shares in the company, valued at $1,281,128.13. This trade represents a 24.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,083 shares of company stock valued at $4,001,032. Insiders own 0.49% of the company’s stock.
Hedge Funds Weigh In On Axcelis Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Axcelis Technologies by 85.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,807,404 shares of the semiconductor company’s stock valued at $145,207,000 after purchasing an additional 835,242 shares in the last quarter. Invesco Ltd. boosted its holdings in Axcelis Technologies by 176.6% during the third quarter. Invesco Ltd. now owns 386,735 shares of the semiconductor company’s stock worth $37,761,000 after buying an additional 246,939 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Axcelis Technologies by 10,368.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 243,503 shares of the semiconductor company’s stock worth $19,563,000 after buying an additional 241,177 shares during the period. Millennium Management LLC grew its position in Axcelis Technologies by 143.8% during the third quarter. Millennium Management LLC now owns 261,776 shares of the semiconductor company’s stock worth $25,560,000 after buying an additional 154,381 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Axcelis Technologies by 27.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 629,814 shares of the semiconductor company’s stock valued at $50,599,000 after buying an additional 135,039 shares in the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of Axcelis Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings cut Axcelis Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. B. Riley Financial raised Axcelis Technologies from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a report on Monday, April 20th. Bank of America upped their target price on Axcelis Technologies from $130.00 to $156.00 and gave the company an “underperform” rating in a research report on Tuesday, June 23rd. Finally, Craig Hallum downgraded Axcelis Technologies from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research note on Friday. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $132.20.
Get Our Latest Research Report on Axcelis Technologies
About Axcelis Technologies
Axcelis Technologies, Inc is a leading developer and manufacturer of ion implantation and cleaning equipment used in the fabrication of semiconductor chips. The company specializes in high-current, medium-current and high-energy ion implantation systems, which are critical for introducing precisely controlled dopants into silicon wafers. Axcelis also offers plasma-based cleaning and dry strip tools that support advanced process nodes in logic, memory and power device manufacturing.
The company’s product portfolio encompasses single-wafer and multi-wafer cluster tools designed to deliver high throughput, accuracy and uniformity for semiconductor process steps.
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