Axcelis Technologies

ACLS · NASDAQ

$112.93+$1.72 (+1.55%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $111.21

ACLS analyst rating

HoldConsensus of 2 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold1
Underperform1
Sell0

12-month price target · 6 analysts

Average $160.03 (+41.7% upside)

Low: $141.40
Now: $112.93
High: $207.90

Upgrades and downgrades

The latest rating actions, newest first

ACLS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
B of A Securities	Jun 23, 2026	Maintains	Underperform	$130.00 → $156.00	17%
B. Riley Securities	Feb 18, 2026	Maintains	Neutral	$94.00 → $91.00	60%
B. Riley Securities	Jan 21, 2026	Maintains	Neutral	$84.00 → $94.00	60%
B of A Securities	Jan 13, 2026	Maintains	Underperform	$90.00 → $100.00	17%
B. Riley Securities	Nov 5, 2025	Maintains	Neutral	$85.00 → $84.00	60%

The case for and against

Updated Mar 20, 2026

Bull case

Axcelis Technologies Inc reported solid financial performance with a revenue of $213.6 million and earnings per share of $1.21, exceeding consensus estimates by $13.6 million and $0.21, driven by record levels in CS&I/Services and a slight uptick in Systems. The company benefits from enhanced capacity and innovation due to the complementary capabilities of its teams, positioning it well to capitalize on opportunities across key geographies and end markets. With a gross margin recovery to 43.0%, 100 basis points above projections and a promising revenue guidance of $215 million, the firm is set to sustain strong execution and diversify its product offerings, effectively reducing investor risk.

Bear case

Axcelis Technologies Inc. has experienced a significant decrease in orders, with a 46% drop to $52 million, and a 16% reduction in backlog to $485 million, raising concerns about future revenue performance. Furthermore, management faces challenges in executing its restructuring plans, which, if unsuccessful, could lead to diminished margins and cash flow, compounded by potential cyclical downturns in GDP that may adversely affect results. Additionally, macroeconomic pressures, such as rising oil prices and decreasing consumer spending, could further hinder the company's business prospects, leading to an overall negative outlook for the stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.