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Investing.com - DA Davidson has reiterated its Buy rating and $110.00 price target on Axcelis Technologies (NASDAQ:ACLS) following the company’s quarterly earnings report. This target represents a 33% upside from the current price of $82.76, aligning with InvestingPro data showing that 3 analysts have revised their earnings upwards for the upcoming period.
The semiconductor equipment manufacturer delivered what DA Davidson described as a "solid beat and raise quarter," with its stock performing positively despite broader market weakness in the semiconductor sector.
Silicon carbide (SiC) applications remained the primary growth driver for Axcelis, while mainstream semiconductor activity continued to show minimal movement and the memory market displayed early recovery signals.
DA Davidson noted that weak bookings represented "the only real concern" during the quarter, though indicators suggest sequential growth is expected in the fourth quarter.
Based on the quarterly results, DA Davidson increased its future-year estimates for Axcelis while maintaining its existing Buy rating and $110 price target on the stock. InvestingPro analysis indicates that Axcelis appears undervalued with a strong financial health score of "GOOD" and holds more cash than debt on its balance sheet. Access Axcelis’s comprehensive Pro Research Report and 10+ additional ProTips with an InvestingPro subscription.
In other recent news, Axcelis Technologies Inc. reported robust financial results for the third quarter of 2025. The company posted earnings per share (EPS) of $1.21, which exceeded the forecasted $1.00. Additionally, Axcelis Technologies achieved revenue of $213.6 million, surpassing the projected $200.06 million. These figures highlight a positive performance for the company, reflecting its ability to outperform market expectations. While specific analyst upgrades or downgrades were not mentioned, the strong earnings and revenue results are likely to influence investor sentiment. These developments come amid a period of heightened investor interest in the company’s financial health. The positive earnings announcement is a key factor in shaping the current outlook for Axcelis Technologies.
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