Why Axcelis Technologies Stock Is Sinking Today
Axcelis Technologies (NASDAQ: ACLS) stock is losing ground Thursday. The semiconductor equipment company's share price was down 7.3% as of 12:30 p.m. ET, according to data from S&P Global Market Intelligence.
Axcelis published fourth-quarter earnings results after the market closed yesterday and actually delivered sales and earnings performance that beat Wall Street's expectations. The business posted earnings of $2.15 per share on revenue of $310.29 million, beating the average analyst estimate's call for a per-share profit of $2.04 on sales of $297.63 million. But despite the Q4 beats, the stock is losing ground because management's forward guidance has failed to excite investors.
Axcelis's revenue grew 16.6% year over year in Q4, and the company closed out the year with a year-end systems backlog of $1.2 billion. But it looks like sales momentum is on track to weaken this year.
Source Fool.com
