Zacks Investment Research upgraded Axcelis Technologies Inc. ACLS to a Zacks Rank #1 (Strong Buy) on Mar 31, 2015. Going by the Zacks model, companies holding a Zacks Rank #1 have strong chances of performing better than the broader market.
Why the Upgrade?
Axcelis Technologies holds a sound earnings track record, with positive earnings surprise in three and negative in one of the trailing four quarters. The stock has a positive average earnings surprise of 9.82%. In the last reported quarter, the company’s break-even bottom-line results beat the Zacks Consensus Estimate of 3 cents of loss per share. Revenues grew 62% sequentially.
In addition, Axcelis Technologies’ order-wins indicate the growing preference of customers for its products and services. Recently, the company won a multi system 'Purion XE' high energy implanter order from a new Purion logic customer.
Over the last 60 days, the Zacks Consensus Estimate for Axcelis Technologies has increased from loss of 1 cent per share to earnings of 7 cents per share for 2015, while the same is pegged at 23 cents per share for 2016. These estimates represent year-over-year growth of 174.1% for 2015 and 245% for 2016. Also, the company has an Earnings ESP of +14.29% for 2015.
Other Stocks to Consider
Axcelis Technologies currently has a market capitalization of $272 million. Other stocks worth considering in the industry include Rudolph Technologies Inc. RTEC, Tessera Technologies Inc. TSRA and MKS Instruments, Inc. MKSI. While Rudolph Technologies and Tessera Technologies sport the same Zacks Rank as Axcelis Technologies, MKS Instruments carries a Zacks Rank #2 (Buy).
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