Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.82, read 2026-10-27
Ethical passes the values gate
Price113.64 USD
Fair value94.76
Ethical score70.0/100
Our investment reviews on this name
2026-10-26Read Distribution112.93+0.6% to today Markup gives way to Distribution after a 17% slide in 3 weeks
2026-10-02Read Markup136.71-16.9% to today Markdown gives way to Markup after a 21% rise in 13 days
2026-09-19Read Markdown113.43+0.2% to today Markup gives way to Markdown after a 37% slide in 11 weeks
2026-07-02Read Markup180.12-36.9% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Axcelis Technologies, Inc. holds its Distribution at $113.64. Consolidating, no directional conviction, held for 59 days.
As held on the ledger · 2026-10-27
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 59 days
Price at the screen
$113.64
Valuation
37.90 trailing · 21.44 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.85
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
3.11%
Below 33%
Interest-bearing debt is just 3.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
16.81%
Below 33%
Cash held in interest-bearing accounts and securities is 16.8% of assets, under the one-third limit.
Pass
Receivables
23.06%
Below 49%
Money owed to the company is 23.1% of assets, under the 49% limit.
Pass
Revenue purity
2.56%
Below 5%
Only 2.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Axcelis Technologies, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 3%, inside the ~33% line, and interest is about 3% of its income, under the ~5% line, so it passes.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when ACLS's ethical verdict changes
Today ACLS passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
Fair value range in USD, drawn from the 2026-10-27 screen. The gold marker is the market price at the same screen. The price runs 16.1% above the base estimate.
Third-party analyst targets: 3 covering, consensus Hold. The average target sits +28% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-27 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Ion Implant Tools Ride a Semiconductor Rollercoaster
Every wafer that needs doping still passes through an ion implanter, and Axcelis builds some of the best. Yet the whole supply chain moves with chipmakers capital spending cycles that swing hard and fast. At 28 times forward earnings and revenue barely rising 3 percent, the shares sit well above our fair value with little margin of safety.
The business clears our ethical screen and shows a 12 percent profit margin plus 10 percent return on equity, but those returns sit inside an industry that rarely sustains them at the top of the cycle. Three analysts still call it a buy with a 173 dollar median target, yet the low single-digit growth and unknown competitive edge leave little room for error once equipment orders slow.
Cyclical names trading on elevated multiples often look reasonable until earnings peak and the multiple compresses at the same time. Currency moves and sudden foundry cuts add further volatility that the current price does not appear to discount. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ACLS trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading oversold. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-10-19Markup$115.11-14.5%Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 14.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 11% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-10-12Markup$134.71-1.5%Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 62% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-10-02Markup · changed$136.71+20.5%Entry 8
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 20.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 62% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-09-19Markdown · changed$113.43-17.0%Entry 7
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 17.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 62% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-08-20Markup$136.66+0.2%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 62% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-07-20Markup$136.42-24.3%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 24.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 62% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-07-18Markup$180.12+0.0%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 62% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-07-16Markup$180.12+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 62% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 125%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (3 analysts) rates it none, with a mean price target of $161.
2026-07-03Markup$180.12+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.