Principal Financial Group Inc. Trims Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Principal Financial Group Inc. trimmed its holdings in Axcelis Technologies, Inc. (NASDAQ:ACLS) by 14.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,083 shares of the semiconductor company’s stock after selling 30,476 shares during the period. Principal Financial Group Inc.’s holdings in Axcelis Technologies were worth $18,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACLS. Xponance Inc. increased its holdings in shares of Axcelis Technologies by 4.7% during the 2nd quarter. Xponance Inc. now owns 2,061 shares of the semiconductor company’s stock worth $293,000 after buying an additional 92 shares during the last quarter. Evergreen Capital Management LLC grew its position in Axcelis Technologies by 6.1% during the second quarter. Evergreen Capital Management LLC now owns 1,984 shares of the semiconductor company’s stock valued at $282,000 after acquiring an additional 114 shares during the period. Nisa Investment Advisors LLC increased its stake in Axcelis Technologies by 11.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,069 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 114 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Axcelis Technologies by 5.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,398 shares of the semiconductor company’s stock worth $251,000 after purchasing an additional 132 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Axcelis Technologies by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 9,134 shares of the semiconductor company’s stock valued at $1,299,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Trading Down 0.1 %

ACLS opened at $72.05 on Friday. The firm’s 50 day moving average is $79.59 and its 200-day moving average is $104.73. Axcelis Technologies, Inc. has a 52-week low of $68.23 and a 52-week high of $158.61. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.34 billion, a P/E ratio of 10.66, a P/E/G ratio of 2.36 and a beta of 1.53.

Wall Street Analyst Weigh In

ACLS has been the topic of several research reports. Benchmark lowered shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axcelis Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $167.33.

About Axcelis Technologies

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.