B. Riley Keeps Neutral Rating On Axcelis Technologies (ACLS)’s Shares

We recently published 13 Best Semiconductor Equipment Stocks to Buy According to Hedge Funds. Axcelis Technologies, Inc. (NASDAQ:ACLS) is one of the stocks Jim Cramer recently discussed.

Axcelis Technologies, Inc. (NASDAQ:ACLS) is a specialty semiconductor equipment manufacturing firm. It primarily deals with the ion implantation process through its implanters. Ion implantation in the chip manufacturing process allows fabrication companies to introduce different properties into the silicon wafers. These properties include wear resistance and conductivity, among others.

B. Riley Keeps Neutral Rating On Axcelis Technologies (ACLS)'s Shares

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B. Riley maintained a Neutral rating on Axcelis Technologies, Inc. (NASDAQ:ACLS)’s on November 5th. The firm also reduced the share price target to $84 from $85. The rating and price target came after Axcelis Technologies, Inc. (NASDAQ:ACLS) reported its latest earnings report. The results saw the firm post $213 million in revenue and $1.21 in earnings per share. The figures beat analyst estimates of $200 million and $1.01.

Apart from B. Riley’s coverage and the earnings, it’s been relatively quiet for Axcelis Technologies, Inc. (NASDAQ:ACLS) on the news front. The firm announced in October that it would merge with Veeco Instruments through an all-stock merger expected to have a $4.4 billion enterprise value. Veeco is also a semiconductor equipment company, and it makes and sells etching, deposition, ionization, and other equipment.

While we acknowledge the risk and potential of ACLS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ACLS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.