Fri, Feb. 6, 5:09 PM
- In addition to beating Q4 estimates, Axcelis (NASDAQ:ACLS) guided on its CC (transcript) for Q1 revenue of $65M-$70M and EPS of $0.00-$0.02, above a consensus of $52.2M and -$0.02. At the midpoint, the revenue guidance implies 11% Y/Y growth.
- Strong demand for Axcelis' Purion H high-current ion implanter from Korean memory industry clients (likely Samsung and Hynix) is driving growth. CEO Mary Puma stated Axcelis has "installed six Purion H systems in multiple fabs for memory applications" since July, and has "several Purion H orders in backlog with expected shipments in Q1 and Q2."
- She added interest remains high in the mid-current Purion M implanter, and that the Purion XE high-energy implanter "continues to penetrate new customers in non memory applications" such as sensors, power management chips, and specialty logic ICs. EVP Doug Lawson mentioned Axcelis is aiming for "the placement of at least one Purion H evaluation unit at a leading edge foundry or logic customer this year."
- Shares closed up 3.9%, making new 52-week highs along the way.
- Q4 results, PR
Sep. 18, 2014, 12:45 PM
Aug. 27, 2014, 1:44 PM
Aug. 26, 2014, 5:35 PM
Jul. 8, 2014, 1:39 PM
- Axcelis (ACLS) now expects Q2 revenue of $40M-$42M and EPS of -$0.05 to -$0.07, below prior guidance of $55M-$60M and -$0.02 to $0.00. Consensus is at $56.3M and -$0.01.
- The chip equipment maker blames "late-quarter system push-outs at a time of overall muted customer spending." It's launching cost cuts aimed at lowering quarterly opex to $17M-$18M from a prior $20M-$21M, and says it has hired Blackstone to help evaluate "financing and strategic initiatives."
- Axcelis' warning comes as peer Lam Research offers an upbeat analyst day outlook. Industry analyst Robert Maire thinks Axcelis could be a canary in the coal mine for chip equipment firms, many of whom have rallied sharply this year. Needham, however, thinks the warning stems from Axcelis' "high reliance on the small high-energy ion implant market."
Jul. 8, 2014, 12:46 PM
Apr. 24, 2014, 1:42 PM
- Lam Research (LRCX +11%) beat FQ3 estimates and guided on its CC (transcript) for FQ4 revenue of $1.19B-$1.29B and EPS of $1.14-$1.28, above a consensus of $1.16B and $1.09. Ultratech (UTEK +3.6%) missed Q1 estimates, but has reiterated guidance for 25%-30% 2014 revenue growth (above a 23.5% consensus).
- Just as importantly for the industry, Lam has forecast the global wafer fab equipment market will be worth $32B in 2014 - $1B more than what Gartner previously forecast.
- Lam also mentioned it has "seen some strengthening" in DRAM equipment orders - clients have been conservative with their capex following industry consolidation - and a "sustained commitment" among logic/foundry clients (Intel and TSMC?) to advanced processes (20nm, 3D transistors, etc.). However, there have been "some slight delays" in 3D NAND flash investments.
- Chip equipment peers are also up: AMAT +1.4%. KLAC +1.5%. ASML +2.1%. ACLS +1.6%. CAMT +5.3%. RTEC +1.5%. PLAB +3.4%. One notable exception is Teradyne (TER -4.1%), which provided light Q2 EPS guidance - $0.36-$0.43 vs. a consensus of $0.49 - to go with a Q1 beat. Revenue guidance is in-line.
- The group sold off last week after ASML offered soft guidance and a cautious 2H outlook. KLA reports after the bell.
Apr. 16, 2014, 11:40 AM
- ASML (ASML -5.5%) has lowered its 1H14 sales outlook. Moreover, the lithography equipment kingpin says logic IC customers are "encountering timing uncertainties in next-generation device designs" for 2H, and that NAND flash memory makers are "continuing their evaluation of [3D] NAND and future-node planar technologies, resulting in uncertainties for system demand."
- ASML's remarks about logic customers might partly be a reference to Intel, which has reportedly delayed the launch of its 14nm Broadwell CPUs. NAND vendors have been keeping a lid on capex for some time; recent price pressure might encourage them to do so.
- Chip equipment peers Applied Materials (AMAT -2%), KLA-Tencor (KLAC -2.5%), Lam Research (LRCX -2.5%), Axcelis (ACLS -2.6%), Camtek (CAMT -5.8%), and Ultratech (UTEK -0.9%) are off in sympathy. Compared with many other tech companies, the group has held up well during the March/April selloff.
- One silver lining: ASML says multiple customers are qualifying 10nm EUV lithography equipment, and that it expects to recognize revenue on 8 EUV systems in 2014. Investments in both EUV and 450mm wafers have been delayed.
- Gartner has forecast chip wafer fab equipment spend will grow 14.9% in 2014 to $31B, after falling 9.1% in 2013.
Jan. 9, 2014, 9:11 AM| 3 Comments
Oct. 2, 2013, 9:11 AM
Sep. 9, 2013, 2:03 PM
- Axcelis Technologies (ACLS +6.3%) shares climb and are outpacing peers, likely due to an SA Pro article penned by Ben Axler and released from embargo over the weekend.
- Axler sees a potential upside of 50%: "Axcelis Technologies is strategically well positioned at the early stage of the next upcycle in the semiconductor capital equipment market. Having removed substantial fixed operating costs during the last cycle, bolstered its balance sheet, and invested significant R&D resources into positioning its Purion platform to take share in the medium current market, the company is poised for accelerated earnings growth in 2014."
Dec. 4, 2012, 12:45 PM
Aug. 2, 2012, 5:22 PM
May. 4, 2011, 9:00 AM
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Axcelis Technologies, Inc. designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe and Asia.
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