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

Axcelis Technologies, Inc. (NASDAQ:ACLS) shares hit a new 52-week low on Wednesday . The company traded as low as $90.06 and last traded at $90.06, with a volume of 1324 shares trading hands. The stock had previously closed at $90.40.

Analyst Ratings Changes

Several brokerages recently issued reports on ACLS. Benchmark reduced their price target on shares of Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research report on Friday, August 2nd. B. Riley reduced their price target on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Bank of America increased their price objective on Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Craig Hallum boosted their target price on shares of Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a report on Friday, July 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Axcelis Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $167.33.

Axcelis Technologies Trading Up 0.7 %

The stock has a 50-day moving average of $103.21 and a two-hundred day moving average of $114.65. The company has a market cap of $2.96 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 3.02 and a beta of 1.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.26 and a current ratio of 4.42.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.18. The firm had revenue of $256.51 million during the quarter, compared to the consensus estimate of $250.06 million. Axcelis Technologies had a return on equity of 27.35% and a net margin of 21.54%. The company’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the company earned $1.86 earnings per share. On average, equities research analysts predict that Axcelis Technologies, Inc. will post 6.05 earnings per share for the current year.

Insider Transactions at Axcelis Technologies

In related news, Director Jorge Titinger sold 6,086 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $109.98, for a total transaction of $669,338.28. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at $647,892.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of Axcelis Technologies by 109.4% in the first quarter. GAMMA Investing LLC now owns 266 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 139 shares during the period. Signaturefd LLC grew its position in Axcelis Technologies by 348.9% in the 2nd quarter. Signaturefd LLC now owns 211 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 164 shares during the period. Blue Trust Inc. raised its stake in Axcelis Technologies by 223.8% during the 2nd quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 188 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Axcelis Technologies in the 2nd quarter worth $39,000. Finally, Isthmus Partners LLC grew its holdings in shares of Axcelis Technologies by 87.3% in the second quarter. Isthmus Partners LLC now owns 33,270 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 15,507 shares during the period. Hedge funds and other 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.