Craig Hallum Issues Pessimistic Forecast for Axcelis Technologies (NASDAQ:ACLS) Stock Price

Axcelis Technologies (NASDAQ:ACLS) had its target price reduced by stock analysts at Craig Hallum from $115.00 to $105.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target points to a potential upside of 45.75% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Benchmark cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Axcelis Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $155.83.

Axcelis Technologies Stock Performance

ACLS stock traded up $2.38 during trading on Wednesday, reaching $72.04. 124,529 shares of the company’s stock were exchanged, compared to its average volume of 489,661. Axcelis Technologies has a 1-year low of $66.75 and a 1-year high of $158.61. The firm has a market cap of $2.34 billion, a PE ratio of 10.66, a P/E/G ratio of 2.36 and a beta of 1.53. The company’s fifty day moving average price is $74.50 and its 200-day moving average price is $97.96. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04.

Institutional Trading of Axcelis Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in Axcelis Technologies in the third quarter worth approximately $69,000. KBC Group NV raised its position in shares of Axcelis Technologies by 30.3% during the third quarter. KBC Group NV now owns 934 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 217 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Axcelis Technologies during the third quarter worth $105,000. GAMMA Investing LLC lifted its holdings in shares of Axcelis Technologies by 37.2% during the third quarter. GAMMA Investing LLC now owns 999 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 271 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Axcelis Technologies by 11.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,069 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 114 shares in the last quarter. 89.98% of the stock is 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.