Needham analyst Charles Shi has maintained their neutral stance on ACLS stock, giving a Hold rating today.
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Charles Shi has given his Hold rating due to a combination of factors including Axcelis Technologies’ recent financial performance and market conditions. The company reported revenue and earnings per share that exceeded expectations, driven by strong performance in the Power SiC segment, although gross margins were impacted by a less favorable product mix.
Despite these positive results, there are concerns about a significant drop in orders, particularly in the Power and General Mature segments, which saw a 46% decline quarter-over-quarter. Looking ahead, while there is some optimism for a slight revenue increase and a rebound in orders, the overall outlook remains cautious with an expected decline in revenue from China and uncertainty in other segments. As a result, Shi maintains a Hold rating, awaiting clearer signs of a cyclical recovery before considering a more favorable recommendation.