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Investors Business Daily
Investors Business Daily
Technology
PATRICK SEITZ

Chip Gear Maker Axcelis Beats Fourth-Quarter Targets, Guides Higher

Semiconductor equipment supplier Axcelis Technologies late Wednesday beat expectations for the fourth quarter. It also guided higher for sales in the March quarter and full year ahead. But ACLS stock fell in extended trading.

The Beverly, Mass.-based company earned $1.71 a share on sales of $266.1 million in the December quarter. Analysts polled by FactSet had expected Axcelis earnings of $1.42 a share on sales of $248.6 million. On a year-over-year basis, Axcelis earnings rose 63% while sales increased 29%.

Axcelis had raised its guidance for the fourth quarter on Jan. 10, citing "robust customer demand."

For the current quarter, Axcelis predicted it would earn $1.25 a share on sales of $240 million. Wall Street had projected earnings of $1.26 a share on sales of $235.1 million for the first quarter. In the year-earlier period, Axcelis earned $1.22 a share on sales of $203.6 million.

For the full year, Axcelis said it expects to achieve revenue of greater than $1 billion. Analysts were looking for 2023 sales of $952.9 million. In 2022, Axcelis posted sales of $920 million, up 39%.

ACLS Stock On Three IBD Stock Lists

In after-hours trading on the stock market today, ACLS stock fell 2.2% to 115. During the regular session Wednesday, ACLS stock slid 1% to close at 117.57.

Axcelis makes ion implantation systems, which provide a critical step in the process of manufacturing integrated circuits. Ion implantation equipment creates charged regions within silicon wafers to enable transistor functionality.

ACLS stock is tied for first place with four other companies in IBD's semiconductor equipment industry group, according to IBD Stock Checkup. It has a best-possible IBD Composite Rating of 99. The Composite Rating scores a stock's key growth metrics against all other stocks regardless of industry group.

Also,  ACLS stock is on three IBD stock lists: IBD 50, Sector Leaders and Tech Leaders.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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