Long Position on ACLS @ $26.25 on 6/25/2020 (Fundamentals)

Axcelis Technologies, Inc. (ACLS) designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide.

The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides curing systems and thermal processing systems. 

In addition, the company offers aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services, and customer training.

It sells its equipment and services to semiconductor chip manufacturers through its direct sales force. 

Axcelis Tech reported 1st Quarter March 2020 earnings of $0.33 per share on revenue of $119.0 million. The consensus earnings estimate was $0.30 per share on revenue of $116.1 million. Revenue grew 30.1% on a year-over-year basis.

This semiconductor manufacturer shares should rebound from the lower boundary of its trading channel.

Entry point: $26.25

52-week trade range: $12.99 - $29.24

Stop/Loss: $25.00

Target Price: $28.85

Updates

7/6/2020 12:05:35 PM

ACLS closed at $28.90

Position closed on 7/6/2020 at price of $28.90 with a 10.10% gain in 11 days.

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