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Axcelis (ACLS) Announces Purion Implanter Shipments to Japan
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Axcelis Technologies, Inc (ACLS - Free Report) recently announced that it shipped Purion EXE SiC high energy implanter and Purion H200 SiC medium energy implanter evaluation closure to Japan-based power device chipmakers.
These solutions will be utilized for 150mm and 200mm production of silicon-carbide power devices for a wide range of applications across various sectors like automotive, industrial and energy.
Axcelis is a leading producer of ion implantation equipment used in the fabrication of semiconductors. Robust customer demand for Purion suite of products, especially in the silicon-carbide power market, is driving the company’s top line.
Purion suite of ion implanters is designed to address the challenges of fab processes at 10nm or less. All Purion ion implanters have a common, high-performance platform embedded with three beamline technologies to meet the requirements of High Current, Medium Current and High Energy applications. The platform is capable of delivering throughput of up to 500 WPH, noted ACLS.
Management also remains focused on expanding its market share. Apart from the shipments to device makers in Japan, it also shipped numerous shipments of Purion M SiC medium current implanter to China-based power device chipmakers a few days back.
Prior to the current shipments, ACLS had shipped Purion H SiC Power Series and Purion M SiC Power Series ion implanter systems to power device chipmakers in Asia and Europe. Also, it had shipped Purion XE high energy and Purion H high current implanters to various fabs in Korea and China for manufacturing of DRAM memory devices in December 2023. The shipments also included a follow-on shipment to an existing customer in Korea.
ACLS expects momentum in the power segment to help it achieve the targeted $1.3 billion in revenues in 2025. For 2024, revenues are expected to be similar to 2023 levels with higher revenues expected in the second half.
In 2023, the company reported revenues of $1.13 billion, up 23% year over year driven by strong adoption of Purion products. System revenues increased 28% year over year to $883.6 million in 2023. China continues to be a key market, with a contribution of 46% to total system revenues in 2023.
However, softness in the general mature and memory markets remains concerning. Amid volatile macroeconomic backdrop, increasing expenses toward research and development, and infrastructure are likely to be additional headwinds.
ACLS currently carries a Zacks Rank #3 (Hold). Shares of the company have declined 16.7% in the past year against 38.5% growth of the sub-industry.
The Zacks Consensus Estimate for SNPS’ fiscal 2024 EPS is pegged at $13.36. The long-term earnings growth rate is 17.5%. SNPS’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 4.1%. Shares of SNPS have soared 50.9% in the past year.
The Zacks Consensus Estimate for IRDM’s 2024 EPS has increased 148.3% in the past 60 days to 72 cents. Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and missed twice. The average earnings surprise is 91.7%.
The Zacks Consensus Estimate for PEGA’s 2024 EPS has increased 19.4% in the past 60 days to $2.77. Pegasystems’ earnings beat the Zacks Consensus Estimate in two of the last four quarters, while missed the same in the remaining quarters. The average earnings surprise is 1063.8%. Shares of PEGA have surged 27.4% in the past year.
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Axcelis (ACLS) Announces Purion Implanter Shipments to Japan
Axcelis Technologies, Inc (ACLS - Free Report) recently announced that it shipped Purion EXE SiC high energy implanter and Purion H200 SiC medium energy implanter evaluation closure to Japan-based power device chipmakers.
These solutions will be utilized for 150mm and 200mm production of silicon-carbide power devices for a wide range of applications across various sectors like automotive, industrial and energy.
Axcelis is a leading producer of ion implantation equipment used in the fabrication of semiconductors. Robust customer demand for Purion suite of products, especially in the silicon-carbide power market, is driving the company’s top line.
Axcelis Technologies, Inc. Price and Consensus
Axcelis Technologies, Inc. price-consensus-chart | Axcelis Technologies, Inc. Quote
Purion suite of ion implanters is designed to address the challenges of fab processes at 10nm or less. All Purion ion implanters have a common, high-performance platform embedded with three beamline technologies to meet the requirements of High Current, Medium Current and High Energy applications. The platform is capable of delivering throughput of up to 500 WPH, noted ACLS.
Management also remains focused on expanding its market share. Apart from the shipments to device makers in Japan, it also shipped numerous shipments of Purion M SiC medium current implanter to China-based power device chipmakers a few days back.
Prior to the current shipments, ACLS had shipped Purion H SiC Power Series and Purion M SiC Power Series ion implanter systems to power device chipmakers in Asia and Europe. Also, it had shipped Purion XE high energy and Purion H high current implanters to various fabs in Korea and China for manufacturing of DRAM memory devices in December 2023. The shipments also included a follow-on shipment to an existing customer in Korea.
ACLS expects momentum in the power segment to help it achieve the targeted $1.3 billion in revenues in 2025. For 2024, revenues are expected to be similar to 2023 levels with higher revenues expected in the second half.
In 2023, the company reported revenues of $1.13 billion, up 23% year over year driven by strong adoption of Purion products. System revenues increased 28% year over year to $883.6 million in 2023. China continues to be a key market, with a contribution of 46% to total system revenues in 2023.
However, softness in the general mature and memory markets remains concerning. Amid volatile macroeconomic backdrop, increasing expenses toward research and development, and infrastructure are likely to be additional headwinds.
ACLS currently carries a Zacks Rank #3 (Hold). Shares of the company have declined 16.7% in the past year against 38.5% growth of the sub-industry.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks worth consideration in the broader technology space are Synopsys (SNPS - Free Report) , Iridium Communications (IRDM - Free Report) and Pegasystems (PEGA - Free Report) . While SNPS and IRDM sport a Zacks Rank #1 (Strong Buy) each, PEGA carries a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SNPS’ fiscal 2024 EPS is pegged at $13.36. The long-term earnings growth rate is 17.5%. SNPS’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 4.1%. Shares of SNPS have soared 50.9% in the past year.
The Zacks Consensus Estimate for IRDM’s 2024 EPS has increased 148.3% in the past 60 days to 72 cents. Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and missed twice. The average earnings surprise is 91.7%.
The Zacks Consensus Estimate for PEGA’s 2024 EPS has increased 19.4% in the past 60 days to $2.77. Pegasystems’ earnings beat the Zacks Consensus Estimate in two of the last four quarters, while missed the same in the remaining quarters. The average earnings surprise is 1063.8%. Shares of PEGA have surged 27.4% in the past year.