AXCELIS TECHNOLOGIES INC
ACLS · Special Industry Machinery, NEC · 30.7M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $34M (gross $52M, SBC $18M)
Reference price $157.44 · est. market cap ~$4.8B — last insider sale, 2026-06-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70Ion-implant equipment maker in a cyclical downturn but still profitable with strong free cash flow and returns.
Strengths
- Profitable through the downturn — operating margin 14.2% (77th), ROE 11.6% (90th)
- Strong FCF and liquidity — FCF $107.0M (100th), current ratio 4.77 (72nd)
Risks
- Cyclical revenue decline — -17.6% (16th), net income -40.2%
- Semiconductor-capex dependence per risk factors — per 10-K
- Customer concentration — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~84% of revenue from one customer/distributor — subsidiaries, accounted for 83
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Strong balance sheetStrong balance sheet — $557M cash & investments
- China exposureexport controls on shipments to Chinese customers have been notably increasing since 2020
- Insider sellingInsider selling — 21 open-market sale(s) by 13 insider(s) (cluster of 13 insiders, ~$6M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- New fund positionNotable fund(s) opened this quarter: Bridgewater Associates, LP
- Revenue declineRevenue -16.5% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
44.9%
Operating margin
14.2%
Net margin
14.3%
Return on equity
11.6%
Return on assets
8.8%
Revenue growth (QoQ)
-16.5%
Net-income growth
-40.2%
Current ratio
4.8×
Free cash flow
$107M
EBITDA
$137M
Tangible book value
$1.0B
Cash & investments
$557M
Stock comp / revenue
2.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Ryzhik David | Tax withheld | 76 | $176.84 |
| 2026-06-15 | Blumenstock Gerald M | Tax withheld | 506 | $191.60 |
| 2026-06-03 | Sayiner Necip | Sell | 1.6K | $157.44 |
| 2026-06-02 | Mahoney Robert John | Sell | 1.2K | $155.24 |
| 2026-05-27 | Sutton Todd | Sell | 2.0K | $159.99 |
| 2026-05-22 | St Dennis Thomas | Sell | 900 | $155.37 |
| 2026-05-22 | Evans Eileen | Sell | 926 | $155.51 |
| 2026-05-21 | Blumenstock Gerald M | Sell | 1.2K | $152.70 |
| 2026-05-20 | Tatnall Christopher | Sell | 1.2K | $149.75 |
| 2026-05-19 | GRAVES GREGORY B | Sell | 600 | $142.51 |
| 2026-05-19 | Quirk Jeanne | Sell | 1.8K | $140.22 |
| 2026-05-19 | GRAVES GREGORY B | Sell | 2.6K | $141.41 |
| 2026-05-19 | KURTZWEIL JOHN T | Sell | 3.5K | $138.79 |
| 2026-05-18 | Mahoney Robert John | Tax withheld | 130 | $146.24 |
| 2026-05-18 | Redinbo Greg | Tax withheld | 111 | $146.24 |
| 2026-05-18 | Mahoney Robert John | Tax withheld | 182 | $146.24 |
| 2026-05-18 | Sutton Todd | Tax withheld | 184 | $146.24 |
| 2026-05-18 | Low Russell | Tax withheld | 711 | $146.24 |
| 2026-05-18 | Redinbo Greg | Tax withheld | 79 | $146.24 |
| 2026-05-15 | Blumenstock Gerald M | Grant | 2.7K | — |
| 2026-05-15 | Blumenstock Gerald M | Tax withheld | 744 | $155.18 |
| 2026-05-15 | Blumenstock Gerald M | Tax withheld | 345 | $155.18 |
| 2026-05-15 | Redinbo Greg | Grant | 3.1K | — |
| 2026-05-15 | Redinbo Greg | Grant | 3.1K | — |
| 2026-05-15 | Redinbo Greg | Tax withheld | 452 | $155.18 |
| 2026-05-15 | Redinbo Greg | Tax withheld | 210 | $155.18 |
| 2026-05-15 | Redinbo Greg | Tax withheld | 177 | $155.18 |
| 2026-05-15 | Evans Eileen | Grant | 3.9K | — |
| 2026-05-15 | Evans Eileen | Grant | 3.9K | — |
| 2026-05-15 | Low Russell | Grant | 19K | — |
| 2026-05-15 | Low Russell | Grant | 19K | — |
| 2026-05-15 | Low Russell | Tax withheld | 3.7K | $155.18 |
| 2026-05-15 | Low Russell | Tax withheld | 1.7K | $155.18 |
| 2026-05-15 | Low Russell | Tax withheld | 1.5K | $155.18 |
| 2026-05-15 | Quirk Jeanne | Grant | 1.4K | — |
| 2026-05-15 | Chiu Tzu Yin | Grant | 1.4K | — |
| 2026-05-15 | Titinger Jorge | Grant | 1.4K | — |
| 2026-05-15 | St Dennis Thomas | Grant | 1.4K | — |
| 2026-05-15 | Sayiner Necip | Grant | 1.4K | — |
| 2026-05-15 | GRAVES GREGORY B | Grant | 1.4K | — |
| 2026-05-15 | KURTZWEIL JOHN T | Grant | 1.4K | — |
| 2026-05-15 | Evans Eileen | Tax withheld | 867 | $155.18 |
| 2026-05-15 | Sutton Todd | Grant | 1.2K | — |
| 2026-05-15 | Sutton Todd | Tax withheld | 226 | $155.18 |
| 2026-05-15 | Sutton Todd | Tax withheld | 112 | $155.18 |
| 2026-05-15 | Sutton Todd | Tax withheld | 103 | $155.18 |
| 2026-05-15 | Ryzhik David | Grant | 3.1K | — |
| 2026-05-15 | Ryzhik David | Tax withheld | 226 | $155.18 |
| 2026-05-15 | Mahoney Robert John | Grant | 1.9K | — |
| 2026-05-15 | Mahoney Robert John | Grant | 1.9K | — |
| 2026-05-15 | Mahoney Robert John | Tax withheld | 372 | $155.18 |
| 2026-05-15 | Mahoney Robert John | Tax withheld | 173 | $155.18 |
| 2026-05-15 | Mahoney Robert John | Tax withheld | 170 | $155.18 |
| 2026-05-15 | Mahoney Robert John | Tax withheld | 61 | $155.18 |
| 2026-05-15 | Tatnall Christopher | Grant | 3.5K | — |
| 2026-05-15 | Tatnall Christopher | Grant | 3.5K | — |
| 2026-05-15 | Tatnall Christopher | Tax withheld | 744 | $155.18 |
| 2026-05-15 | Tatnall Christopher | Tax withheld | 345 | $155.18 |
| 2026-05-15 | Tatnall Christopher | Tax withheld | 170 | $155.18 |
| 2026-05-15 | Blumenstock Gerald M | Grant | 2.7K | — |
| 2026-05-14 | Sutton Todd | Sell | 2.6K | $163.89 |
| 2026-05-14 | Blumenstock Gerald M | Sell | 1.0K | $162.31 |
| 2026-05-13 | Titinger Jorge | Sell | 2.0K | $164.14 |
| 2026-05-13 | Redinbo Greg | Sell | 2.9K | $160.85 |
| 2026-05-12 | Mahoney Robert John | Sell | 2.3K | $161.00 |
| 2026-05-06 | Low Russell | Sell | 7.5K | $156.75 |
| 2026-05-01 | Low Russell | Sell | 1.2K | $138.86 |
| 2026-04-20 | Tatnall Christopher | Tax withheld | 907 | $131.02 |
| 2026-04-01 | Low Russell | Sell | 1.2K | $94.06 |
| 2026-03-24 | Low Russell | Sell | 1.2K | $90.00 |
| 2026-03-02 | Blumenstock Gerald M | Tax withheld | 1.1K | $86.58 |
| 2026-03-02 | Redinbo Greg | Tax withheld | 723 | $86.58 |
| 2026-03-02 | COOGAN JAMES GORDON | Tax withheld | 1.8K | $86.58 |
| 2026-03-02 | Low Russell | Tax withheld | 5.2K | $86.58 |
| 2026-03-02 | Tatnall Christopher | Tax withheld | 1.1K | $86.58 |
| 2026-03-02 | Mahoney Robert John | Tax withheld | 573 | $86.58 |
| 2026-02-20 | Titinger Jorge | Sell | 1.0K | $80.00 |
| 2026-01-15 | Mahoney Robert John | Grant | 1.7K | — |
| 2025-12-17 | Titinger Jorge | Sell | 2.0K | $86.05 |
| 2025-12-16 | Evans Eileen | Tax withheld | 1.4K | $86.32 |
| 2025-12-11 | Blumenstock Gerald M | Sell | 3.0K | $89.46 |
| 2025-10-16 | COOGAN JAMES GORDON | Tax withheld | 713 | $83.62 |
| 2025-09-15 | Tatnall Christopher | Tax withheld | 137 | $87.30 |
| 2025-09-15 | Redinbo Greg | Tax withheld | 208 | $87.30 |
| 2025-06-16 | Blumenstock Gerald M | Tax withheld | 506 | $68.96 |
| 2025-06-16 | Redinbo Greg | Tax withheld | 734 | $68.96 |
| 2025-05-20 | KURTZWEIL JOHN T | Sell | 1.7K | $61.93 |
| 2025-05-17 | Low Russell | Tax withheld | 947 | $62.01 |
| 2025-05-16 | Redinbo Greg | Tax withheld | 190 | $61.58 |
| 2025-05-16 | Low Russell | Tax withheld | 712 | $61.58 |
| 2025-05-15 | KURTZWEIL JOHN T | Grant | 3.6K | — |
| 2025-05-15 | Low Russell | Grant | 31K | — |
| 2025-05-15 | Tatnall Christopher | Grant | 6.1K | — |
| 2025-05-15 | Tatnall Christopher | Grant | 6.1K | — |
| 2025-05-15 | Tatnall Christopher | Tax withheld | 345 | $62.67 |
| 2025-05-15 | Tatnall Christopher | Tax withheld | 170 | $62.67 |
| 2025-05-15 | Redinbo Greg | Grant | 6.1K | — |
| 2025-05-15 | Redinbo Greg | Grant | 6.1K | — |
| 2025-05-15 | Redinbo Greg | Tax withheld | 209 | $62.67 |
| 2025-05-15 | Redinbo Greg | Tax withheld | 177 | $62.67 |
| 2025-05-15 | COOGAN JAMES GORDON | Grant | 12K | — |
| 2025-05-15 | COOGAN JAMES GORDON | Grant | 12K | — |
| 2025-05-15 | COOGAN JAMES GORDON | Tax withheld | 574 | $62.67 |
| 2025-05-15 | Low Russell | Grant | 31K | — |
| 2025-05-15 | Low Russell | Tax withheld | 1.7K | $62.67 |
| 2025-05-15 | Low Russell | Tax withheld | 1.5K | $62.67 |
| 2025-05-15 | Blumenstock Gerald M | Grant | 6.1K | — |
| 2025-05-15 | Blumenstock Gerald M | Grant | 6.1K | — |
| 2025-05-15 | Blumenstock Gerald M | Tax withheld | 345 | $62.67 |
| 2025-05-15 | Evans Eileen | Grant | 7.2K | — |
| 2025-05-15 | Evans Eileen | Grant | 7.2K | — |
| 2025-05-15 | Chiu Tzu Yin | Grant | 3.6K | — |
| 2025-05-15 | Sayiner Necip | Grant | 3.6K | — |
| 2025-05-15 | GRAVES GREGORY B | Grant | 3.6K | — |
| 2025-05-15 | Quirk Jeanne | Grant | 3.6K | — |
| 2025-05-15 | St Dennis Thomas | Grant | 3.6K | — |
| 2025-05-15 | Titinger Jorge | Grant | 3.6K | — |
| 2025-04-21 | Tatnall Christopher | Tax withheld | 907 | $45.23 |
| 2025-02-28 | Blumenstock Gerald M | Tax withheld | 748 | $54.79 |
| 2025-02-28 | Tatnall Christopher | Tax withheld | 1.1K | $54.79 |
| 2025-02-28 | COOGAN JAMES GORDON | Tax withheld | 1.8K | $54.79 |
| 2025-02-28 | Low Russell | Tax withheld | 3.9K | $54.79 |
| 2025-02-28 | Low Russell | Tax withheld | 5.2K | $54.79 |
| 2025-02-28 | Redinbo Greg | Tax withheld | 471 | $54.79 |
| 2025-02-28 | Redinbo Greg | Tax withheld | 749 | $54.79 |
| 2025-01-03 | FALLON LYNNETTE C | Tax withheld | 3.1K | $71.96 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
- SMIC (Semiconductor Manufacturing International Corporation)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-08 | 2026-03-31 | 0001104659-26-057725 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001104659-26-057147 ↗ |
| 8-K | 2026-05-06 | 2026-05-05 | 0001104659-26-056230 ↗ |
| 8-K | 2026-03-12 | 2026-03-10 | 0001104659-26-027104 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001104659-26-020461 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001104659-26-016391 ↗ |
| 8-K | 2026-02-06 | 2026-02-06 | 0001104659-26-011577 ↗ |
| 8-K | 2026-02-02 | 2026-01-22 | 0001104659-26-008916 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0001104659-26-007482 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001104659-25-107689 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001104659-25-105954 ↗ |
| 8-K | 2025-10-01 | 2025-10-01 | 0001104659-25-095693 ↗ |