Axcelis Technologies (NASDAQ:ACLS) Sets New 52-Week Low – Here’s Why

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $67.50 and last traded at $68.11, with a volume of 93383 shares. The stock had previously closed at $73.10.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Benchmark lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.33.

Axcelis Technologies Stock Down 7.4 %

The business’s fifty day moving average price is $75.48 and its two-hundred day moving average price is $100.00. The firm has a market cap of $2.20 billion, a P/E ratio of 10.02, a P/E/G ratio of 2.36 and a beta of 1.53. The company has a current ratio of 4.45, a quick ratio of 3.29 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Axcelis Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in Axcelis Technologies by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 23,751 shares of the semiconductor company’s stock valued at $2,490,000 after buying an additional 6,786 shares during the last quarter. Royce & Associates LP increased its stake in shares of Axcelis Technologies by 157.1% in the third quarter. Royce & Associates LP now owns 273,671 shares of the semiconductor company’s stock worth $28,694,000 after purchasing an additional 167,235 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Axcelis Technologies by 243.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 60,328 shares of the semiconductor company’s stock worth $6,325,000 after purchasing an additional 42,779 shares during the last quarter. Annex Advisory Services LLC boosted its stake in Axcelis Technologies by 72.0% during the 3rd quarter. Annex Advisory Services LLC now owns 12,226 shares of the semiconductor company’s stock valued at $1,282,000 after purchasing an additional 5,118 shares during the period. Finally, FMR LLC increased its position in Axcelis Technologies by 51.4% in the 3rd quarter. FMR LLC now owns 263,332 shares of the semiconductor company’s stock worth $27,610,000 after buying an additional 89,453 shares during the period. Institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.