Some investors worry about an expensive market near all-time highs. But not every stock is near its all-time high today, nor is every stock expensive.
Shares of Axcelis Technologies (ACLS -12.25%) sank in Tuesday's trading. The stock ended today's session down 12.3% and had been down as much as 14.6% earlier in the day.
Axcelis Technologies, Inc. (NASDAQ:ACLS ) Q4 2024 Earnings Call February 11, 2025 8:30 AM ET Company Participants David Ryzhik - SVP, IR and Corporate Strategy Russell Low - President and CEO James Coogan - EVP and CFO Conference Call Participants Charles Shi - Needham & Company Craig Ellis - B. Riley Securities Jed Dorsheimer - William Blair Jack Egan - Charter Equity Research David Duley - Steelhead Securities Thomas Diffely - D.A.
Axcelis Technologies (ACLS) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $2.15 per share a year ago.
In the closing of the recent trading day, Axcelis Technologies (ACLS) stood at $66.15, denoting a +0.68% change from the preceding trading day.
The Zacks Electronics - Manufacturing Machinery industry participants, such as ENTG, MKSI and ACLS, are benefiting from increased capital spending on high-performance computing, advanced packaging and memory.
Axcelis's Power Device segment, driven by SiC, has shown impressive growth, becoming the largest revenue contributor with an average growth rate of 61.7% from 2021 to 2024. Despite the overall semiconductor market's modest growth, Axcelis's competitive strengths in SiC devices have significantly outpaced the market, contributing to its robust performance. Based on a P/S valuation and projected revenue growth, we rate Axcelis as a Strong Buy.
In the most recent trading session, Axcelis Technologies (ACLS) closed at $69.47, indicating a +0.42% shift from the previous trading day.
Investors need to pay close attention to Axcelis Technologies (ACLS) stock based on the movements in the options market lately.
Axcelis Technologies, Inc. (NASDAQ:ACLS ) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET Company Participants David Ryzhik - Senior Vice President of Investor Relations and Corporate Strategy Russell Low - President and Chief Executive Officer James Coogan - Executive Vice President and Chief Financial Officer Conference Call Participants Craig Ellis - B. Riley Securities Jack Egan - Charter Equity Research Ross Cole - Needham and Company LLC Tom Diffely - D.A.
Axcelis Technologies (ACLS) came out with quarterly earnings of $1.49 per share, beating the Zacks Consensus Estimate of $1.43 per share. This compares to earnings of $1.99 per share a year ago.
ACLS' third-quarter performance is likely to have benefited from solid demand for ion implantation systems, especially in the silicon carbide space.