Axcelis Technologies (ACLS) closed slightly up, but underperformed the market and has negative analyst outlook.

From Nasdaq: 2024-12-20 18:15:08

Axcelis Technologies (ACLS) closed at $69.47, up 0.42% from the previous day. The stock underperformed the S&P 500, while the Dow and Nasdaq saw gains. ACLS shares fell 5.6% in the past month, compared to sector gains. Analysts expect a 41.86% drop in EPS and a 21.07% decrease in revenue for the company.

The Zacks Consensus Estimates predict a 21.13% drop in earnings and a 10.63% decrease in revenue for Axcelis Technologies for the fiscal year. Estimate revisions can impact stock performance, and the Zacks Rank system rates ACLS as a #5 (Strong Sell) currently. Market participants await the company’s financial results closely.

Axcelis Technologies currently trades at a Forward P/E ratio of 11.81, below the industry average. The company’s PEG ratio stands at 2.16, higher than the industry average. The Electronics – Manufacturing Machinery industry, where ACLS belongs, has a Zacks Industry Rank of 236, placing it in the bottom 6% of all industries.

Zacks has identified a top semiconductor stock poised for growth, with strong earnings and market potential. The stock is positioned to benefit from the growing demand for AI, ML, and IoT technologies. The global semiconductor market is projected to increase from $452 billion in 2021 to $803 billion by 2028. Check out the stock recommendation from Zacks for more details.



Read more at Nasdaq: Here’s Why Axcelis Technologies (ACLS) Gained But Lagged the Market Today