Stock in Concentration: Axcelis Technologies, Inc. (NASDAQ: ACLS)

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Axcelis Technologies, Inc.,ACLS

On 21 Jan 19, Axcelis Technologies, Inc. (NASDAQ: ACLS) negotiated 255,627 shares against it an average volume of 250,819 shares. The stock concluded the recent trade at $19.53 with upbeat/downbeat trend move of +1.56%. The company has total market value of 633.008M. The daily trading range was observed between a day’s low price of $19.31 to a day’s high price of $19.96.

Axcelis Technologies, Inc. (ACLS) recently reported financial results for the third quarter ended September 30, 2018.

The Company stated third quarter revenue of $95.4M, contrast to $119.3M for the second quarter of 2018. Operating profit for the quarter was $10.7M, contrast to $19.3M for the second quarter. Net income for the quarter was $8.8M, or $0.26 per diluted share, contrast to net income for the second quarter of 2018 of $14.7M, or $0.43 per diluted share. Included in the quarter is a tax benefit of $1.4M or $0.04 per diluted share relating to the calculation of transition tax under the 2017 Tax Cuts and Jobs Act. Gross margin for the quarter was 41.8%, contrast to 41.1% in the second quarter. Cash, cash equivalents and restricted cash were $155.6M at September 30, 2018, contrast to $154.9M on June 30, 2018.

“We continue to see important demand from a highly diverse consumer base for the capabilities the Purion Platform provides to address their challenging technology requirements,” commented President and CEO Mary Puma. “Our aggressive initiatives to improve gross margin, combined with favorable revenue mix, delivered results above our THIRD QUARTER guidance and are enabling the achievement of our 40% gross margin target for 2018.”

Business Outlook
For the fourth quarter ending December 31, 2018, Axcelis expects revenues of about $100M. Gross margin in the fourth quarter is predictable to be about 40%. Fourth quarter operating profit is forecasted to be about $10.5M. Earnings per share is predictable to be about $0.20.

A look on the firm performance, its monthly performance is 11.28% and a quarterly performance of 2.90%. The stock price is moving up from its 20 days moving average with 11.19% and isolated positively from 50 days moving average with 9.74%.

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