Axcelis Technologies Management
Management criteria checks 4/4
Axcelis Technologies' CEO is Russell Low, appointed in May 2023, has a tenure of 3.08 years. total yearly compensation is $5.10M, comprised of 11.9% salary and 88.1% bonuses, including company stock and options. directly owns 0.16% of the company’s shares, worth $7.65M. The average tenure of the management team and the board of directors is 3 years and 5.6 years respectively.
Key information
Russell Low
Chief executive officer
US$5.1m
Total compensation
| CEO salary percentage | 11.93% |
| CEO tenure | 3.1yrs |
| CEO ownership | 0.2% |
| Management average tenure | 3yrs |
| Board average tenure | 5.6yrs |
Recent management updates
Recent updates
Narrative Update • May 30
ACLS: Updated P E Assumptions And Flat 2026 Outlook Will Guide Recovery
Analysts have lifted their price target on Axcelis Technologies to $161, citing updated assumptions for discount rates and future P/E that, they say, reflect increased confidence in the stock's long term earnings potential. Analyst Commentary Bullish Takeaways Bullish analysts point to the higher price target as a sign that updated discount rate and P/E assumptions leave more room for upside if Axcelis Technologies executes on its long term earnings plans.Narrative Update • May 15
ACLS: Mixed Near Term Outlook And Memory Upside Will Shape Recovery Path
Axcelis Technologies' analyst fair value estimate has shifted from $92 to $161, as analysts factor in recent target resets that reflect mixed near term guidance, changes to revenue and earnings forecasts through 2028, and updated views on margins and future P/E assumptions. Analyst Commentary Recent research paints a mixed picture for Axcelis Technologies, with analysts weighing strong recent execution against more cautious outer year expectations and resetting fair value targets accordingly.
New Narrative • May 06
Silicon Carbide And AI Memory Demand Will Support Long Term Semiconductor Equipment Upside
Catalysts About Axcelis Technologies Axcelis Technologies supplies ion implantation systems and related aftermarket services used in semiconductor manufacturing. What are the underlying business or industry changes driving this perspective?
New Narrative • Apr 22
SiC Electrification Tailwinds Will Likely Be Outweighed By Memory Margin Pressure
Catalysts About Axcelis Technologies Axcelis Technologies supplies ion implantation equipment and aftermarket services to semiconductor manufacturers across power, memory and logic markets. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 21
ACLS: Softer 1Q26 Outlook And Mature Foundry Digestion Will Constrain Recovery
Narrative Update: Axcelis Technologies Price Target Shift Analysts have trimmed Axcelis Technologies' average price target by a few dollars into the low $90s, reflecting softer near term guidance, flattish 2026 revenue expectations as Mature Foundry digestion offsets Memory gains, and reduced 2026 to 2028 sales and EPS estimates, even as they acknowledge recent Services and Systems strength and mix driven gross margin pressure. Analyst Commentary Recent research on Axcelis highlights a mixed setup, with analysts weighing solid recent execution against more cautious expectations for the next few years.Seeking Alpha • Apr 21
Axcelis Technologies: Medium-Term May Be Priced In, But Overall, A Lot Of Upside
Summary Axcelis Technologies, Inc. remains a Hold, with significant upside potential as industry cycles recover and memory demand revives. Despite a 17.5% revenue decline and margin compression, ACLS maintains a robust balance sheet with $145M cash, $229M short-term investments, and zero debt. Flat 2025 revenue guidance signals a bottom, with memory segment resurgence and AI-driven capex cycles poised to drive growth into 2026–2028. The pending Veeco merger promises a major TAM expansion for ACLS and integrated solutions, contingent on final Chinese regulatory approval. Read the full article on Seeking AlphaNarrative Update • Apr 07
ACLS: Memory Mix And Mature Foundry Digestion Will Shape 2H26 Recovery Prospects
Narrative Update on Axcelis Technologies Analyst price targets for Axcelis Technologies have shifted lower by about $3 to $4, with recent research pointing to softer 1Q26 guidance, a flattish CY26 revenue outlook, and reduced 2026 to 2028 sales and EPS estimates, even as analysts highlight prior strength in Q4 and a greater contribution from Memory over time. Analyst Commentary Recent Street research around Axcelis Technologies reflects a mixed tone, with some analysts focusing on execution strengths and others concentrating on a more cautious multi year outlook, especially into 2026 to 2028.Narrative Update • Mar 23
ACLS: Memory Upside And 2H26 Recovery Prospects Balance Near Term Headwinds
Axcelis Technologies' analyst price targets have edged down into the low $90s as analysts factor in softer 1Q26 guidance, a flattish 2026 revenue outlook, and lower long term sales and EPS estimates, while still acknowledging the recent Q4 beat and expectations for improving momentum in the second half of 2026. Analyst Commentary Recent Street research on Axcelis points to a more cautious stance on valuation and growth, even as the company delivered a strong Q4.Narrative Update • Mar 09
ACLS: Memory Upside And 2H26 Momentum Will Shape Future Cash Flows
Analyst price targets for Axcelis Technologies have moved modestly lower, with reductions to around $90 to $91 as analysts factor in softer 1Q26 guidance, a flattish 2026 revenue outlook, and reduced 2026 to 2028 sales and EPS estimates, partially balanced by expectations for improving momentum later in 2026. Analyst Commentary Recent research updates on Axcelis highlight a mix of optimism and caution, with price targets reset around the low US$90s as analysts balance solid recent execution against a more muted medium term outlook.Narrative Update • Feb 23
ACLS: Multi Year Demand Visibility And Memory Upside Will Shape Cash Flows
Axcelis Technologies' analyst fair value estimate has been trimmed by $6.50 to $92.00 as analysts factor in lower long term profit margin assumptions and reduced sales and EPS forecasts, even as they reflect higher revenue growth and a slightly higher future P/E multiple in their updated models. Analyst Commentary Recent Street research on Axcelis Technologies reflects a mix of optimism about longer term demand drivers and caution around nearer term execution and earnings power.Narrative Update • Feb 08
ACLS: Multi Year Demand Visibility Will Shape Future Cash Flow Potential
Analysts have raised their price expectations for Axcelis Technologies by around US$10 per share, citing a stronger multi year demand outlook, improved visibility, broader customer exposure and the potential for higher free cash flow generation in the next upturn. Analyst Commentary Bullish Takeaways Bullish analysts have lifted their Axcelis price targets by about US$10 per share, which reflects a view that the company’s earnings power and cash generation prospects may support a higher valuation range over the next cycle.Narrative Update • Jan 25
ACLS: Shareholder Meeting And Buybacks Will Frame Future Demand And Cash Flow Potential
Analysts have lifted their price target for Axcelis Technologies by US$5 to reflect updated assumptions on fair value, profit margins, discount rate and future P/E. This change is supported by recent research citing a stronger multi year demand outlook, improving visibility, broader customer diversification and potential for higher free cash flow generation in an upturn.Narrative Update • Jan 11
ACLS: Shareholder Meeting And Buybacks Will Shape Balanced Future Prospects
Analysts have reduced their fair value estimate for Axcelis Technologies from $96.80 to $93.50. They cite updated assumptions around revenue growth, profit margins, and a higher future P/E multiple as the reasons for the change.Narrative Update • Dec 27
ACLS: Veeco Merger Will Expand Scale And Support Undervalued Upside Potential
Analysts nudged their price target on Axcelis Technologies higher to $110 from $90, citing the Veeco merger as a catalyst for expanded product breadth, improved profitability, greater scale, and potentially increased strategic appeal to larger industry players. Analyst Commentary Bullish analysts view the pending Veeco merger as a transformational step that broadens Axcelis Technologies' product portfolio beyond its traditional core, creating a more diversified revenue base that can support higher, more durable growth multiples over time.Narrative Update • Dec 13
ACLS: Merger Synergies And Added Scale Will Support Undervalued Upside Potential
Analysts have increased their price target on Axcelis Technologies to $110 from $90, citing the added scale, broader product portfolio, and improved profitability expected from its merger with Veeco Instruments, even as they flag customer concentration and China exposure as ongoing risks. Analyst Commentary Bullish Takeaways Bullish analysts highlight that the Veeco merger materially broadens Axcelis' product portfolio, which they believe can support higher sustainable growth and justify a premium valuation multiple.Analysis Article • Dec 06
Axcelis Technologies, Inc.'s (NASDAQ:ACLS) Shareholders Might Be Looking For Exit
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 18x, you may...Narrative Update • Nov 29
ACLS: Merger With Veeco Will Expand Scale And Broaden Product Reach
Axcelis Technologies' analyst price target was recently increased from $90 to $110 per share, as analysts highlighted the expanded scale and product range following the Veeco merger as key drivers for the higher valuation. Analyst Commentary Recent analyst coverage of Axcelis Technologies in the context of its merger with Veeco Instruments has highlighted both optimistic expectations and notable concerns regarding the company’s future outlook and valuation.Narrative Update • Nov 15
ACLS: Broader Product Portfolio Will Drive Market Position Amid Chinese Exposure
Analysts have raised their price target for Axcelis Technologies to $110 from $90, citing the company’s improved growth prospects, stronger profit margins, and increased scale following the merger with Veeco Instruments. Analyst Commentary Recent research following the merger between Axcelis Technologies and Veeco Instruments has sparked a range of views among industry analysts regarding Axcelis’ future prospects, valuation, and market exposure.Narrative Update • Nov 01
ACLS: Merger Will Expand Product Breadth And Increase Industry Scale
Analysts have raised their price target on Axcelis Technologies from $90 to $110, citing the company's merger with Veeco as a move that expands product breadth, increases profitability, and enhances scale. Analyst Commentary Recent research following the Axcelis Technologies and Veeco merger provides both positive and cautionary perspectives on the company’s valuation, future execution, and growth opportunities.Narrative Update • Oct 17
SiC Expansion And Concentrated China Exposure Will Shape Future Trends
Analysts have raised their price target for Axcelis Technologies from $95.20 to $97.00. They cite positive expectations for the planned merger with Veeco Instruments and anticipated benefits of expanded scale and profitability, despite ongoing market risks.Narrative Update • Oct 03
SiC Expansion And Concentrated China Exposure Will Shape Future Trends
The analyst price target for Axcelis Technologies has increased significantly from $85.50 to $95.20. Analysts cite improved profitability, expanded product offerings through recent mergers, and above-expectation quarterly results as key factors supporting the higher valuation.Analysis Article • Aug 07
Results: Axcelis Technologies, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates
As you might know, Axcelis Technologies, Inc. ( NASDAQ:ACLS ) just kicked off its latest quarterly results with some...Narrative Update • Aug 06
SiC Expansion And Concentrated China Exposure Will Shape Future Trends
The upward revision in Axcelis Technologies’ price target reflects improved revenue growth forecasts and a sharply lower future P/E ratio, leading to a new consensus fair value of $78.50. What's in the News Issued Q3 2025 guidance: expects approximately $200 million in revenue and $0.87 GAAP EPS.Analysis Article • Jul 20
Is Now The Time To Look At Buying Axcelis Technologies, Inc. (NASDAQ:ACLS)?
Axcelis Technologies, Inc. ( NASDAQ:ACLS ), is not the largest company out there, but it received a lot of attention...Analysis Article • Jul 02
Returns Are Gaining Momentum At Axcelis Technologies (NASDAQ:ACLS)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...Analysis Article • Jul 02
Axcelis Technologies, Inc. (NASDAQ:ACLS) Stock Catapults 28% Though Its Price And Business Still Lag The Market
Axcelis Technologies, Inc. ( NASDAQ:ACLS ) shares have continued their recent momentum with a 28% gain in the last...Seeking Alpha • Feb 28
Axcelis Technologies: Oversold And Undervalued - A Long-Term Growth Play
Summary Axcelis faces challenges in the EV market and China but has strong long-term prospects due to SiC demand, AI, and cloud technologies. The company's financial stability, low debt, and undervaluation present a 21% upside, making Axcelis a "Buy" with a target price of $78. Despite a revenue drop in 2024, Axcelis' diversified segments and high-margin CS&I services ensure resilience and future growth. Long-term growth drivers include SiC demand, U.S. and European semiconductor support, and recovery in the Memory segment by 2026. Read the full article on Seeking AlphaSeeking Alpha • Jan 09
Axcelis: Power Device Segment Driving Double-Digit Growth
Summary Axcelis's Power Device segment, driven by SiC, has shown impressive growth, becoming the largest revenue contributor with an average growth rate of 61.7% from 2021 to 2024. Despite the overall semiconductor market's modest growth, Axcelis's competitive strengths in SiC devices have significantly outpaced the market, contributing to its robust performance. Based on a P/S valuation and projected revenue growth, we rate Axcelis as a Strong Buy. Read the full article on Seeking AlphaSeeking Alpha • Dec 04
Axcelis Technologies: Navigating Turbulence As EV And Semiconductor Markets Stumble
Summary Axcelis Technologies' stock has plummeted over 50% since July, with no signs of buying pressure to indicate a rebound. The semiconductor and EV industries are experiencing slowdowns, impacting Axcelis' revenue and profit growth, with a rough few quarters ahead. The company's financial performance shows significant YOY declines, and competition from Chinese firms is intensifying. Given the current market conditions and technical setup, it's best to wait for clear recovery signs before investing in ACLS stock. Read the full article on Seeking AlphaSeeking Alpha • Sep 27
Axcelis Technologies: No Rush To Add More
Summary Axcelis Technologies, Inc. faces a negative trend with declining revenues and profitability, particularly in the EV and hybrid markets, leading to a hold rating. Q2 results showed a revenue beat but a year-over-year decline in both revenue and EPS, with gross margins remaining flat and operating margins deteriorating. The company's strong cash position and no debt are positives, but weak guidance and economic uncertainties make it unappealing for further investment now. I expect potential revenue to rebound with interest rate cuts and improved market conditions in 2025, but will reassess the position in the next quarter. Read the full article on Seeking Alpha
New Narrative • Sep 04
Silicon Carbide Revolution Fuels Growth In EVs, AI, And Global Semiconductor Markets
Demand for Axcelis' systems in EV-related markets and applications like Silicon Carbide points to significant revenue growth potential.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$101m |
| Dec 31 2025 | US$5m | US$609k | US$120m |
| Sep 30 2025 | n/a | n/a | US$136m |
| Jun 30 2025 | n/a | n/a | US$158m |
| Mar 31 2025 | n/a | n/a | US$178m |
| Dec 31 2024 | US$4m | US$633k | US$201m |
| Sep 30 2024 | n/a | n/a | US$222m |
| Jun 30 2024 | n/a | n/a | US$239m |
| Mar 31 2024 | n/a | n/a | US$250m |
| Dec 31 2023 | US$4m | US$530k | US$246m |
| Sep 30 2023 | n/a | n/a | US$232m |
| Jun 30 2023 | n/a | n/a | US$207m |
| Mar 31 2023 | n/a | n/a | US$189m |
| Dec 31 2022 | US$1m | US$373k | US$183m |
| Sep 30 2022 | n/a | n/a | US$162m |
| Jun 30 2022 | n/a | n/a | US$149m |
| Mar 31 2022 | n/a | n/a | US$124m |
| Dec 31 2021 | US$1m | US$360k | US$99m |
| Sep 30 2021 | n/a | n/a | US$78m |
| Jun 30 2021 | n/a | n/a | US$61m |
| Mar 31 2021 | n/a | n/a | US$55m |
| Dec 31 2020 | US$1m | US$343k | US$50m |
| Sep 30 2020 | n/a | n/a | US$45m |
| Jun 30 2020 | n/a | n/a | US$35m |
| Mar 31 2020 | n/a | n/a | US$22m |
| Dec 31 2019 | US$779k | US$319k | US$17m |
Compensation vs Market: Russell's total compensation ($USD5.10M) is below average for companies of similar size in the US market ($USD8.41M).
Compensation vs Earnings: Russell's compensation has been consistent with company performance over the past year.
CEO
Russell Low (55 yo)
3.1yrs
Tenure
US$5,100,394
Compensation
Dr. Russell J. Low, PhD, serves as Chief Executive Officer, President and Director at Axcelis Technologies Inc. since May 11, 2023. He had been an Executive Vice President of Global Customer & Engineering...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 3.1yrs | US$5.10m | 0.16% $ 7.7m | |
| Executive VP of Human Resources and Legal | 1.5yrs | US$1.61m | 0.0048% $ 233.7k | |
| Executive Vice President of Marketing & Applications | 3.8yrs | US$1.29m | 0.047% $ 2.3m | |
| Executive Vice President of Research | 3yrs | US$1.29m | 0% $ 0 | |
| Executive Vice President of Global Customer Operations | 2.8yrs | US$1.29m | 0.022% $ 1.1m | |
| Interim CFO & Senior VP of Investor Relations and Corporate Strategy | less than a year | no data | 0.0043% $ 212.3k | |
| Executive Vice President of Global Operations | 12.4yrs | no data | 0.0097% $ 474.3k | |
| VP of Corporate Controller | no data | no data | 0.021% $ 1.0m |
3.0yrs
Average Tenure
57.5yo
Average Age
Experienced Management: ACLS's management team is considered experienced (3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 3.1yrs | US$5.10m | 0.16% $ 7.7m | |
| Independent Non-Executive Director | 11.1yrs | US$319.74k | 0.10% $ 5.0m | |
| Independent Non-Executive Director | 11.1yrs | US$304.74k | 0.053% $ 2.6m | |
| Non-Executive Director | 2.3yrs | US$319.74k | 0.011% $ 533.9k | |
| Non-Executive Director | 2.3yrs | US$304.74k | 0.021% $ 1.0m | |
| Independent Non-Executive Director | 8.1yrs | US$294.74k | 0.034% $ 1.7m | |
| Independent Non-Executive Chairman | 6.8yrs | US$362.24k | 0.015% $ 711.0k | |
| Independent Non-Executive Director | 4.3yrs | US$312.24k | 0.032% $ 1.6m |
5.6yrs
Average Tenure
65yo
Average Age
Experienced Board: ACLS's board of directors are considered experienced (5.6 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/03 21:35 |
| End of Day Share Price | 2026/06/03 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Axcelis Technologies, Inc. is covered by 8 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Christopher Muse | Barclays |
| Duksan Jang | BofA Global Research |
| Craig Ellis | B. Riley Securities, Inc. |