Axcelis Technologies (ACLS) Tops Q3 EPS by 3c; Guides Below the Street

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Needham & Company Remains Bullish as Axcelis Technologies (ACLS) Reports Mixed 3Q

November 3, 2016 7:09 AM EDT

Needham & Company maintained a Buy rating on Axcelis Technologies (NASDAQ: ACLS), and cut the price target to $15.00 (from $17.00), following the company's 3Q earnings report. Revenue of $65.7MM missed the Street's $67.7MM estimates. However, EPS of $0.07 beat the consensus estimate of $0.04 as GM came in better than expected at 36.7%. Revenue and EPS guidance of... More