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Axcelis (ACLS) Purion Solution Continues to Gain Traction
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Axcelis Technologies, Inc (ACLS - Free Report) recently announced multiple new penetrations and follow-on shipments of the Purion Power Series ion implanter systems to silicon carbide chipmakers located across Asia, Europe and the United States.
Shipments include Purion XE high energy, Purion H200 high current and the Purion M medium current implanters solutions. These solutions will be used by chipmakers in high volume production of power devices for automotive industry EV applications.
In December 2022, Axcelis announced multiple shipments of the Purion Dragon high current implanter. These shipments also included a follow-on order and a new customer evaluation to semiconductor manufacturers in Asia to aid in advanced memory and logic device development and fabrication.
Axcelis further noted that the transition to electric vehicles is driving the silicon carbide power device market and in turn boosting demand for Purion suite of products. The company expects power device market to represent 35-40% of its system shipments in 2022 and further grow in 2023.
ACLS is scheduled to report its fourth-quarter and full-year 2022 results on Feb 8. The company recently increased its revenue guidance for fourth-quarter 2022 driven by strong demand trends.
The company also added that strong execution by Axcelis team led to higher system shipments and aftermarket revenues. Also, favorable forex movements acted as a tailwind. Continued demand for Purion suite of products is likely to cushion top-line growth in 2023, noted Axcelis.
ACLS now expects fourth-quarter revenues to exceed $250 million compared with the earlier guided range of $232-$240 million. The company expects to deliver full-year 2022 revenues above $900 million. Currently, the Zacks Consensus Estimate for fourth-quarter and full-year revenues are pegged at $251.3 million and $905.3 million, respectively.
The company now expects fourth-quarter earnings to exceed $1.45 per share compared with the earlier guided range of $1-$1.10 per share. The company anticipates full-year 2022 earnings to be above $5.00 per share. Currently, the Zacks Consensus Estimate for fourth-quarter and full-year earnings per share are pegged at $1.46 and $5.21, respectively.
At present, ACLS carries a Zacks Rank #1 (Strong Buy). Shares of the company have surged 80.5% against the sub-industry’s decline of 20.9% in the past year.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.38 per share, up 1 cent in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have increased 1.9% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.37 per share, up 2.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 34.6% in the past year.
The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at $1.28 per share, up 8.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 21.3%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 156%. Shares of PSTG have increased 8.5% in the past year.
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Axcelis (ACLS) Purion Solution Continues to Gain Traction
Axcelis Technologies, Inc (ACLS - Free Report) recently announced multiple new penetrations and follow-on shipments of the Purion Power Series ion implanter systems to silicon carbide chipmakers located across Asia, Europe and the United States.
Shipments include Purion XE high energy, Purion H200 high current and the Purion M medium current implanters solutions. These solutions will be used by chipmakers in high volume production of power devices for automotive industry EV applications.
In December 2022, Axcelis announced multiple shipments of the Purion Dragon high current implanter. These shipments also included a follow-on order and a new customer evaluation to semiconductor manufacturers in Asia to aid in advanced memory and logic device development and fabrication.
Axcelis further noted that the transition to electric vehicles is driving the silicon carbide power device market and in turn boosting demand for Purion suite of products. The company expects power device market to represent 35-40% of its system shipments in 2022 and further grow in 2023.
ACLS is scheduled to report its fourth-quarter and full-year 2022 results on Feb 8. The company recently increased its revenue guidance for fourth-quarter 2022 driven by strong demand trends.
Axcelis Technologies, Inc. Price and Consensus
Axcelis Technologies, Inc. price-consensus-chart | Axcelis Technologies, Inc. Quote
The company also added that strong execution by Axcelis team led to higher system shipments and aftermarket revenues. Also, favorable forex movements acted as a tailwind. Continued demand for Purion suite of products is likely to cushion top-line growth in 2023, noted Axcelis.
ACLS now expects fourth-quarter revenues to exceed $250 million compared with the earlier guided range of $232-$240 million. The company expects to deliver full-year 2022 revenues above $900 million. Currently, the Zacks Consensus Estimate for fourth-quarter and full-year revenues are pegged at $251.3 million and $905.3 million, respectively.
The company now expects fourth-quarter earnings to exceed $1.45 per share compared with the earlier guided range of $1-$1.10 per share. The company anticipates full-year 2022 earnings to be above $5.00 per share. Currently, the Zacks Consensus Estimate for fourth-quarter and full-year earnings per share are pegged at $1.46 and $5.21, respectively.
At present, ACLS carries a Zacks Rank #1 (Strong Buy). Shares of the company have surged 80.5% against the sub-industry’s decline of 20.9% in the past year.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Arista Networks (ANET - Free Report) , Jabil (JBL - Free Report) and Pure Storage (PSTG - Free Report) . While Jabil sports a Zacks Rank #1, Arista and Pure Storage carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.38 per share, up 1 cent in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have increased 1.9% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.37 per share, up 2.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 34.6% in the past year.
The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at $1.28 per share, up 8.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 21.3%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 156%. Shares of PSTG have increased 8.5% in the past year.