Axcelis Announces $100 Million Increase to Share Repurchase Authorization

Rhea-AI Summary

Axcelis Technologies (ACLS) has announced a significant expansion of its share repurchase program, with its Board of Directors approving an additional $100 million in share repurchase authorization. This increase brings the total outstanding repurchase authorization to $215 million.

The company plans to increase its quarterly share repurchase activity while maintaining a strong balance sheet. The repurchases may be executed through open market or privately negotiated transactions under SEC's Rule 10b-18, with the possibility of implementing Rule 10b5-1 trading plans. President and CEO Russell Low attributed this decision to the company's strong cash position and solid execution, expressing confidence in their long-term business fundamentals.

The program remains flexible, as Axcelis has no obligation to repurchase shares and may suspend or discontinue the program at any time, subject to market conditions and other factors.

Positive

• Additional $100 million share repurchase authorization, bringing total to $215 million
• Strong cash position maintained through solid execution
• Planned increase in quarterly share repurchase activity
• Management's confidence in long-term business fundamentals

Negative

• Program execution subject to market conditions and regulatory restrictions
• No guarantee of complete program execution as company can suspend/discontinue at any time

BEVERLY, Mass., March 12, 2025 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) a leading supplier of enabling ion implantation solutions for the semiconductor industry, announced today that its Board of Directors has approved an additional $100 million in share repurchase authorization. This approval brings the current outstanding repurchase authorization to $215 million.

"Axcelis has maintained a strong cash position supported by solid execution over the past several years. This increased share repurchase authorization reflects our confidence in the attractive long-term fundamentals of our business. We intend to use this authorization to increase the quarterly level of our share repurchase activity going forward, while continuing to maintain a strong balance sheet," said Russell Low, President and Chief Executive Officer.

Any decision to repurchase shares will be subject to market conditions and other factors, including legal and regulatory restrictions and required approvals, up to the aggregate amount authorized by the Board. Repurchases of the Company's common stock may be made from time to time under the SEC's Rule 10b-18. These shares may be purchased in the open market or through privately negotiated transactions. The Company may from time to time enter into Rule 10b5-1 trading plans to facilitate the repurchase of its common stock pursuant to its share repurchase program. The Company has no obligation to repurchase shares under the authorization. The Company may suspend or discontinue the repurchase program at any time.

Safe Harbor Statement
Statements made in this press release that are not of known historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. These statements, which include our plans to execute a share repurchase program, are based on management's current expectations and should be viewed with caution. They are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including the continuing strength of our financial position and ability to make share repurchases, as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the risk factors described in our annual report on Form 10-K for the fiscal year ended December 31, 2024. The Company undertakes no obligation to update the information or statements made in this press release.

About Axcelis:
Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 45 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.

CONTACTS:

Investor Relations Contact:
David Ryzhik
Senior Vice President, Investor Relations and Corporate Strategy
Telephone: (978) 787-2352
Email: David.Ryzhik@axcelis.com

Press/Media Relations Contact: 
Maureen Hart
Senior Director, Corporate & Marketing Communications
Telephone: (978) 787-4266
Email: Maureen.Hart@axcelis.com

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SOURCE Axcelis Technologies, Inc.

FAQ

How much did Axcelis Technologies (ACLS) increase its share buyback program by in March 2025?

Axcelis Technologies increased its share buyback authorization by $100 million, bringing the total outstanding repurchase authorization to $215 million.

What methods will ACLS use to execute its share repurchase program?

ACLS may purchase shares through open market or privately negotiated transactions under SEC's Rule 10b-18, potentially using Rule 10b5-1 trading plans.

Why did Axcelis Technologies announce this share buyback increase?

The increased buyback reflects management's confidence in the company's long-term fundamentals and is supported by their strong cash position and solid execution.

Is ACLS obligated to complete the full $215 million share repurchase program?

No, Axcelis has no obligation to repurchase shares and can suspend or discontinue the program at any time based on market conditions and other factors.

How will ACLS implement the new share repurchase program?

ACLS plans to increase the quarterly level of share repurchase activity while maintaining a strong balance sheet.