Axcelis Technologies (NASDAQ:ACLS) Hits New 12-Month Low – Here’s Why

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $46.50 and last traded at $46.03, with a volume of 117471 shares. The stock had previously closed at $50.96.

Wall Street Analysts Forecast Growth

ACLS has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Craig Hallum cut their price target on shares of Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Finally, William Blair lowered shares of Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Axcelis Technologies presently has a consensus rating of “Hold” and a consensus target price of $154.00.

Axcelis Technologies Stock Performance

The stock has a market cap of $1.36 billion, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 4.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.05. The stock’s 50 day simple moving average is $59.45 and its two-hundred day simple moving average is $74.64.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.25 by $0.29. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. As a group, research analysts forecast that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Axcelis Technologies announced that its Board of Directors has approved a share buyback program on Wednesday, March 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Axcelis Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in shares of Axcelis Technologies by 90.6% in the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 173 shares during the last quarter. Avior Wealth Management LLC grew its stake in Axcelis Technologies by 1,153.8% in the fourth quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Axcelis Technologies by 1,415.2% during the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Axcelis Technologies by 118.7% during the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 317 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Axcelis Technologies by 85.5% in the 4th quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 289 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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.