Axcelis Technologies (ACLS) Outpaces Stock Market Gains: What You Should Know

This story originally appeared on Zacks

Axcelis Technologies (ACLS) closed at $63.27 in the latest trading session, marking a +1.05% move from the prior day. This change outpaced the S&P 500’s 0.69% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, added 0.28%.

– Zacks

Coming into today, shares of the semiconductor services company had lost 18.45% in the past month. In that same time, the Computer and Technology sector lost 8.19%, while the S&P 500 lost 5.29%.

Axcelis Technologies will be looking to display strength as it nears its next earnings release, which is expected to be February 7, 2022. On that day, Axcelis Technologies is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 162.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $190.15 million, up 55.61% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Axcelis Technologies. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Axcelis Technologies is currently a Zacks Rank #2 (Buy).

Looking at its valuation, Axcelis Technologies is holding a Forward P/E ratio of 17.65. This valuation marks a premium compared to its industry’s average Forward P/E of 13.25.

The Electronics – Manufacturing Machinery industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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