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Axcelis Technologies, Inc. (ACLS) designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia. 
The company offers high energy, high current, and medium current implanters for various application requirements.
It also provides 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.
On February 8th, ACLS reported Quarter December 2022 earnings of $1.71 per share on revenue of $266.1 million. The consensus earnings estimate was $1.46 per share on revenue of $248.6 million. The Earnings Whisper number was $1.50 per share. Revenue grew 29.3% on a year-over-year basis.
Guided Higher: The company said it expects first quarter earnings of approximately $1.25 per share on revenue of approximately $240.0 million. The current consensus earnings estimate is $1.22 per share on revenue of $235.19 million for the quarter ending March 31, 2023. The company said it expects 2023 revenue of $1.00 billion or more. The current consensus revenue estimate is $952.92 million for the year ending December 31, 2023.
Shares have formed a bullish "wedge" that is supported by the stock's 50-day moving average support. Higher share prices are expected.
Entry Point: $128.00
Stop Loss: $122.00
Trading Range: $46.4101 to $135.96
Target Pirce: $140.00
