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Axcelis (ACLS) Increases Q4 Revenue Guidance on Strong Demand
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Axcelis Technologies (ACLS - Free Report) recently increased its revenue guidance for the fourth quarter of 2022 driven by strong demand trends.
The company also added that strong execution by Axcelis team led to higher system shipments and aftermarket revenues. Also, favorable forex movements acted as a tailwind. Continued demand for Purion suite of products is likely to cushion top-line growth in 2023, noted Axcelis.
ACLS now expects fourth-quarter revenues to exceed $250 million compared with the earlier guided range of $232-$240 million. The company expects to deliver full-year 2022 revenues above $900 million. Currently, the Zacks Consensus Estimate for the fourth quarter and full-year revenues is pegged at $236 million and $889.9 million, respectively.
The company now expects fourth-quarter earnings to exceed $1.45 per share compared with the earlier guided range of $1.00-$1.10 per share. The company expects full-year 2022 earnings to be above $5.00 per share. Currently, the Zacks Consensus Estimate for the fourth quarter and full-year earnings per share is pegged at $1.05 and $4.80, respectively.
Axcelis is scheduled to report its fourth quarter and full-year 2022 results on Feb 6.
Headquartered in Beverly, MA, Axcelis specializes in production of ion implantation equipment used in the fabrication of semiconductors. The demand for company’s products is being driven by strength in the implant-intensive power markets.
Increasing uptake of Purion family of products is a major growth driver for the company. In December 2022, Axcelis announced multiple shipments of the Purion Dragon high current implanter. These shipments also include a follow-on order and a new customer evaluation to semiconductor manufacturers in Asia to aid in advanced memory and logic device development and fabrication.
In the last reported quarter, Axcelis reported revenues of $229.2 million, up 3.6% on a year-over-year basis.
At present, ACLS carries a Zacks Rank #3 (Hold). Shares of the company have increased 32.5% against the sub-industry’s decline of 34% in the past year.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 13.4% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL are up 2.7% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2022 earnings is pegged at 7 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 23%.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 83.3%. Shares of ASUR have soared 37.5% in the past year.
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Axcelis (ACLS) Increases Q4 Revenue Guidance on Strong Demand
Axcelis Technologies (ACLS - Free Report) recently increased its revenue guidance for the fourth quarter of 2022 driven by strong demand trends.
The company also added that strong execution by Axcelis team led to higher system shipments and aftermarket revenues. Also, favorable forex movements acted as a tailwind. Continued demand for Purion suite of products is likely to cushion top-line growth in 2023, noted Axcelis.
ACLS now expects fourth-quarter revenues to exceed $250 million compared with the earlier guided range of $232-$240 million. The company expects to deliver full-year 2022 revenues above $900 million. Currently, the Zacks Consensus Estimate for the fourth quarter and full-year revenues is pegged at $236 million and $889.9 million, respectively.
Axcelis Technologies, Inc. Price and Consensus
Axcelis Technologies, Inc. price-consensus-chart | Axcelis Technologies, Inc. Quote
The company now expects fourth-quarter earnings to exceed $1.45 per share compared with the earlier guided range of $1.00-$1.10 per share. The company expects full-year 2022 earnings to be above $5.00 per share. Currently, the Zacks Consensus Estimate for the fourth quarter and full-year earnings per share is pegged at $1.05 and $4.80, respectively.
Axcelis is scheduled to report its fourth quarter and full-year 2022 results on Feb 6.
Headquartered in Beverly, MA, Axcelis specializes in production of ion implantation equipment used in the fabrication of semiconductors. The demand for company’s products is being driven by strength in the implant-intensive power markets.
Increasing uptake of Purion family of products is a major growth driver for the company. In December 2022, Axcelis announced multiple shipments of the Purion Dragon high current implanter. These shipments also include a follow-on order and a new customer evaluation to semiconductor manufacturers in Asia to aid in advanced memory and logic device development and fabrication.
In the last reported quarter, Axcelis reported revenues of $229.2 million, up 3.6% on a year-over-year basis.
At present, ACLS carries a Zacks Rank #3 (Hold). Shares of the company have increased 32.5% against the sub-industry’s decline of 34% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks (ANET - Free Report) , Jabil (JBL - Free Report) and Asure Software (ASUR - Free Report) . While Arista and Jabil sport a Zacks Rank #1 (Strong Buy), Asure carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 13.4% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL are up 2.7% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2022 earnings is pegged at 7 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 23%.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 83.3%. Shares of ASUR have soared 37.5% in the past year.