Axcelis Technologies, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Duksan Jang from Bank of America Securities reiterated a Hold rating on the stock and has a $81.00 price target.
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Duksan Jang’s rating is based on a combination of factors that reflect both positive and cautious outlooks for Axcelis Technologies. The company has shown better-than-expected performance in recent quarters, with Q2 results exceeding expectations and Q3 sales guidance surpassing consensus by 7%. This indicates that the company is moving past its trough, with a stable outlook for Q4. However, Jang remains cautious about a strong recovery in 2026 due to current booking trends that are still near trough levels and muted demand across various end markets.
Despite these challenges, Axcelis Technologies is seen as a key player in the semiconductor industry’s long-term trends, particularly in the SiC and EV sectors. The company benefits from a strong cash position, which supports a robust share repurchase outlook. However, high short interest and limited demand visibility in several markets pose risks, contributing to the Hold rating. The price objective has been raised to $81, reflecting a modest improvement in order patterns and favorable trends in gross margin and operating expenses.
ACLS’s price has also changed moderately for the past six months – from $67.100 to $78.010, which is a 16.26% increase.