Axcelis Technologies (ACLS) experienced a significant pre-market plummet of 21.19% on Wednesday, following concerning developments regarding the company's near-term outlook.
The sharp decline appears primarily driven by the company's guidance for the first quarter of 2026, which projects revenue of approximately $195 million and non-GAAP earnings per share of about $0.71. This represents a sequential decline from the strong fourth-quarter 2025 performance and falls below analyst expectations, raising investor concerns about near-term business prospects despite the company's Q4 earnings beat.
Adding to the negative sentiment, multiple analysts have adjusted their outlook on the stock. BofA Global Research lowered its price target on Axcelis to $90 from $100 while maintaining an Underperform rating, and Truist Securities adjusted its price target to $91 from $94 while maintaining a Neutral rating, reflecting cautious analyst sentiment toward the semiconductor equipment company.
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