Axcelis Technologies, Inc. (NASDAQ:ACLS) Merger and Price Target Update

• D.A. Davidson sets a price target of $110 for Axcelis Technologies, Inc. (NASDAQ:ACLS), indicating a potential increase of about 12.13%.
• The merger with Veeco Instruments Inc. is expected to create a leading semiconductor equipment company, with Axcelis shareholders holding approximately 58% of the new entity.
• The combined entity is projected to have an enterprise value of approximately $4.4 billion, with the merger being accretive to non-GAAP earnings per share within the first year.

Axcelis Technologies, Inc. (NASDAQ:ACLS) is a prominent player in the semiconductor equipment industry. On October 2, 2025, D.A. Davidson set a price target of $110 for ACLS, suggesting a potential increase of about 12.13% from its then-current price of $98.10. This target reflects optimism about the company's future prospects, especially in light of its recent merger announcement.

Axcelis is merging with Veeco Instruments Inc. in an all-stock transaction, creating a leading semiconductor equipment company. This merger is expected to diversify their portfolio and expand their addressable markets. Axcelis shareholders are anticipated to hold approximately 58% of the newly combined entity, as highlighted by Halper Sadeh LLC, which is investigating the merger's fairness for Axcelis shareholders.

The merger is projected to enhance the company's operating profile and balance sheet, supporting investments in growth initiatives and a share repurchase program. The combined entity is expected to have an enterprise value of approximately $4.4 billion. This merger is anticipated to be accretive to non-GAAP earnings per share within the first year post-closing, indicating potential financial benefits for shareholders.

Currently, ACLS stock is priced at $92.79, reflecting a decrease of approximately 2.08% or $1.97. The stock has fluctuated between a low of $92.74 and a high of $98.35 today. Over the past year, ACLS has reached a high of $107.23 and a low of $40.40. The company's market capitalization is approximately $2.92 billion, with a trading volume of 378,561 shares on the NASDAQ exchange.