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Axcelis Technologies (ACLS) Outpaces Stock Market Gains: What You Should Know
Axcelis Technologies (ACLS - Free Report) closed at $109.95 in the latest trading session, marking a +1.97% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.46%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 6.63%.
Heading into today, shares of the semiconductor services company had gained 35.87% over the past month, outpacing the Computer and Technology sector's gain of 9.6% and the S&P 500's gain of 4.75% in that time.
Wall Street will be looking for positivity from Axcelis Technologies as it approaches its next earnings report date. This is expected to be February 8, 2023. The company is expected to report EPS of $1.46, up 39.05% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $251.3 million, up 22.18% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Axcelis Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.95% higher within the past month. Axcelis Technologies is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Axcelis Technologies has a Forward P/E ratio of 20.6 right now. Its industry sports an average Forward P/E of 17.5, so we one might conclude that Axcelis Technologies is trading at a premium comparatively.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ACLS in the coming trading sessions, be sure to utilize Zacks.com.