# Axcelis Technologies, Inc. (ACLS)

> Source: Nexqual · https://nexqual.com/ACLS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Axcelis Technologies, Inc. (ACLS), nexqual.com/ACLS" · informational, not investment advice.

**Price:** USD 104.74 (-10.16% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 116.58 · day 104.31–111.35 · 52w 73.6–193.78 · market cap $3.23B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $866M, net income $92.8M (10.7% margin), free cash flow $65.6M (SEC filings).
- Valuation: P/E 34.9x (avg 16.7x at the last 3 fiscal year-ends).
- 2 of 80 tracked superinvestors hold ACLS (13F, Q2 2026): 1 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 17 Form 4 filings, $5.7M; 15 not under a Rule 10b5-1 plan ($4.3M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 3.20 on a 1–5 scale) (5 analysts), mean target USD 150 (range 140–165).
- Total return with dividends: 1Y +24.2% vs S&P 500 +14.9%; 5Y +112.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.11, revenue estimate $230M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $662M | $920M | $1.13B | $1.02B | $839M | $866M |
| Gross profit | $286M | $402M | $491M | $455M | $377M | — |
| Operating income | $127M | $212M | $266M | $211M | $119M | $89.4M |
| Net income | $98.7M | $183M | $246M | $201M | $120M | $92.8M |
| EPS (diluted) | $2.88 | $5.46 | $7.43 | $6.15 | $3.80 | — |
| Free cash flow | $141M | $205M | $136M | $129M | $107M | $65.6M |
| Gross margin | 43.2% | 43.7% | 43.5% | 44.7% | 44.9% | — |
| Operating margin | 19.2% | 23.1% | 23.5% | 20.7% | 14.2% | 10.3% |
| Net margin | 14.9% | 19.9% | 21.8% | 19.7% | 14.3% | 10.7% |
| Revenue growth | +39.6% | +38.9% | +22.9% | -10.0% | -17.6% | — |
| Cash + short-term investments | $295M | $432M | $506M | $571M | $374M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 34.9x · P/S 3.7x · P/FCF 49.3x · P/B 3.0x · FCF yield 2.03% · Earnings yield 2.87%
P/E at fiscal year-ends: Dec 2025 21.2x, Dec 2024 11.4x, Dec 2023 17.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold ACLS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.02% | $13.6M | Reduced -28.5% |
| Lee Ainslie | Maverick Capital | <0.01% | $498K | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 17 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-03 | Sayiner Necip | Director | 1,586 | $250K | 18.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Mahoney Robert John | EVP Global Operations | 1,155 | $179K | 7.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-27 | Sutton Todd | VP Corporate Controller | 2,000 | $320K | 23.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-22 | St Dennis Thomas | Director | 900 | $140K | 4.8% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-05-22 | Evans Eileen | EVP, General Counsel and Sec'y | 926 | $144K | 2.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-21 | Blumenstock Gerald M | EVP, Research, Dev. & Eng. | 1,161 | $177K | 5.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-20 | Tatnall Christopher | EVP Global Customer Operations | 1,166 | $175K | 4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-19 | Graves Gregory B | Director | 3,225 | $457K | 37.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-19 | Kurtzweil John T | Director | 3,500 | $486K | 9.6% | No | Routine (sold in May each year 2023–2025) |
| 2026-05-19 | Quirk Jeanne | Director | 1,789 | $251K | 13.6% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-05-14 | Sutton Todd | VP Corporate Controller | 2,574 | $422K | 24.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Blumenstock Gerald M | EVP, Research, Dev. & Eng. | 1,015 | $165K | 5.5% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-13 | Titinger Jorge | Director | 2,000 | $328K | 30.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-13 | Redinbo Greg | EVP MARKETING AND APPLICATIONS | 2,883 | $464K | 8.8% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-05-12 | Mahoney Robert John | EVP Global Operations | 2,258 | $364K | 15% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-06 | Low Russell | PRESIDENT AND CEO | 7,468 | $1.2M | 5.7% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2025) |
| 2026-05-01 | Low Russell | PRESIDENT AND CEO | 1,244 | $173K | 0.9% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.20 on a 1–5 scale), 5 analysts; mean target USD 150 (low 140, high 165).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +24.2% | +112.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +24.3% | +16.2% |
| Volatility (annualized) | 69.4% | 54.7% |
| Max drawdown | -45.9% (Jun 2026→Sep 2026) | -78.0% (Jul 2023→Mar 2025) |

## Peers (Semiconductor Equipment & Materials)
ACMR (ACM Research, Inc.) USD 49.12 -10.18% · AXTI (AXT Inc) USD 51.56 -13.02% · IPGP (IPG Photonics Corporation) USD 69.41 -6.24% · AMBA (Ambarella, Inc.) USD 63.12 -4.36% · KLIC (Kulicke and Soffa Industries, I) USD 73.4 -9.86% · VECO (Veeco Instruments Inc.) USD 41.15 -11.81%

## More
Full page: https://nexqual.com/ACLS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name ACLS in their own reports (relationship from ACLS's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | VEECO INSTRUMENTS INC (VECO) | 10-K 2026-02-25 | "Merger Agreement with Axcelis Technologies, Inc." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $200.5M | 93.2% | +9.3% |
| New Systems Revenue | $132.4M | 61.5% | -0.7% |
| After Market | $82.8M | 38.5% | +35.2% |
| Services | $14.7M | 6.8% | +31.8% |
| Total revenue | $215.2M | 100% | — |
The lines above cover 200% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Asia Pacific | $177.9M | 82.7% | +22.1% |
| Europe | $23.9M | 11.1% | +62.6% |
| North America | $13.4M | 6.2% | -60.8% |
| Total revenue | $215.2M | 100% | — |

## Customer concentration

Period ended 2026-06-30: 21.6%, 15.9% of revenue from unnamed direct customers (10-Q, filed 2026-08-06).

## Company outlook (8-K filed 2026-08-06)

- "For the third quarter ending September 30, 2026, Axcelis expects revenues of approximately $230 million, GAAP earnings per diluted share of approximately $0.76, and non-GAAP earnings per share of approximately $1.11."
- "Please refer to Third Quarter 2026 Outlook under the &ldquo;Notes on our Non-GAAP Financial Information&rdquo; section of this document for detail relating to the computation of non-GAAP earnings per diluted share as well as the Safe Harbor Statement section of this document."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.11 | $1.04 | +6.3% | $230.1M | 5 |
| Next quarter (ends 2026-12-31) | $1.22 | $1.18 | +3.2% | $239.3M | 5 |
| Current fiscal year (ends 2026-12-31) | $4.11 | $3.83 | +7.1% | $883.5M | 5 |
| Next fiscal year (ends 2027-12-31) | $5.27 | $4.85 | +8.7% | $988.8M | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±17.8%; last 8 reports averaged ±6.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 77.5% | ±17.8% |
| 2026-12-18 | 56 | 68.1% | ±21.9% |
| 2027-03-19 | 147 | 66.3% | ±34.1% |
| 2027-06-17 | 237 | 65.9% | ±42.6% |