Needham Believes Axcelis Technologies (NASDAQ: ACLS) Still Has Room to Grow

By Austin Angelo

Needham analyst Edwin Mok reiterated a Buy rating on Axcelis Technologies (NASDAQ: ACLS) today and set a price target of $27. The company’s shares closed yesterday at $22.70, close to its 52-week high of $26.53.

According to TipRanks.com, Mok is a 5-star analyst with an average return of 14.2% and a 62.6% success rate. Mok covers the Technology sector, focusing on stocks such as Advanced Energy Industries, SolarEdge Technologies, and Ultra Clean Holdings.

Axcelis Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $25.50.

The company has a one year high of $26.53 and a one year low of $2.69. Currently, Axcelis Technologies has an average volume of 381.3K.

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Axcelis Technologies, Inc. engages in the design, manufacture and service of dry strip, ion implantation and other processing equipment used in the fabrication of semiconductor chips. The company provides service and support, including spare parts, equipment upgrades, maintenance services and customer training. Its products include Purion H, which is next generation single wafer high current implanter; Optima HDx, is designed to maximize beam current, minimize beam setup time and deliver productive process across the applications space; Purion XE, is next generation single wafer high energy implanter, it is the second tool in the expanding family of Purion ion implanters; Optima XEx, includes implant energies matched to meet the changing needs of today’s advanced device manufacturing; Paradigm XE, offers implant energies matched to meet the changing needs of advanced logic and memory manufacturing; and Purion M, is a low energy, medium current ion implanter for all channel engineering applications in the low dose and mid dose regimes. The company also sells its equipment and services through direct sales, distributors, and manufacturing representatives. Axcelis Technologies was founded in 1978 and is headquartered in Beverly, MA.