Primecap Management Co. CA Has $64.03 Million Stake in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Primecap Management Co. CA decreased its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 6.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 916,426 shares of the semiconductor company’s stock after selling 58,010 shares during the period. Primecap Management Co. CA owned 2.82% of Axcelis Technologies worth $64,031,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in shares of Axcelis Technologies by 51.4% during the 3rd quarter. FMR LLC now owns 263,332 shares of the semiconductor company’s stock valued at $27,610,000 after acquiring an additional 89,453 shares during the last quarter. Reinhart Partners LLC. grew its holdings in Axcelis Technologies by 50.7% in the 4th quarter. Reinhart Partners LLC. now owns 1,036,112 shares of the semiconductor company’s stock valued at $72,393,000 after buying an additional 348,504 shares during the last quarter. Intech Investment Management LLC grew its holdings in Axcelis Technologies by 157.3% in the 3rd quarter. Intech Investment Management LLC now owns 11,094 shares of the semiconductor company’s stock valued at $1,163,000 after buying an additional 6,782 shares during the last quarter. Pier Capital LLC grew its holdings in Axcelis Technologies by 101.4% in the 3rd quarter. Pier Capital LLC now owns 82,990 shares of the semiconductor company’s stock valued at $8,702,000 after buying an additional 41,782 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Axcelis Technologies in the 3rd quarter valued at approximately $1,304,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

Axcelis Technologies Price Performance

Shares of ACLS stock opened at $57.19 on Wednesday. The stock has a 50 day moving average of $64.33 and a two-hundred day moving average of $78.68. The company has a current ratio of 5.41, a quick ratio of 4.05 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 12 month low of $53.67 and a 12 month high of $158.61. The company has a market capitalization of $1.84 billion, a P/E ratio of 9.30, a P/E/G ratio of 4.52 and a beta of 1.62.

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

Axcelis Technologies declared that its board has approved a stock buyback program on Wednesday, March 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Axcelis Technologies 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.