Axcelis Technologies (NASDAQ:ACLS) Reaches New 52-Week Low – Here’s What Happened

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

Analysts Set New Price Targets

A number of brokerages have issued reports on ACLS. DA Davidson upped their price target on shares of Axcelis Technologies from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Benchmark lowered their price target on Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Bank of America increased their price objective on Axcelis Technologies from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. B. Riley dropped their target price on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.33.

Axcelis Technologies Trading Down 0.1 %

The firm has a market cap of $2.93 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 3.02 and a beta of 1.58. The company has a 50-day simple moving average of $102.27 and a 200 day simple moving average of $114.30. The company has a current ratio of 4.42, a quick ratio of 3.26 and a debt-to-equity ratio of 0.05.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.18. The firm had revenue of $256.51 million for the quarter, compared to the consensus estimate of $250.06 million. Axcelis Technologies had a net margin of 21.54% and a return on equity of 27.35%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, sell-side analysts forecast that Axcelis Technologies, Inc. will post 6.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jorge Titinger sold 6,086 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $109.98, for a total transaction of $669,338.28. Following the transaction, the director now owns 5,891 shares in the company, valued at $647,892.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Boston Trust Walden Corp purchased a new position in shares of Axcelis Technologies in the third quarter valued at approximately $53,099,000. Reinhart Partners LLC. raised its stake in Axcelis Technologies by 64.1% in the 3rd quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company’s stock valued at $72,096,000 after purchasing an additional 268,560 shares during the last quarter. Vanguard Group Inc. boosted its stake in Axcelis Technologies by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock worth $480,040,000 after purchasing an additional 263,604 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Axcelis Technologies during the second quarter worth $27,801,000. Finally, Boston Partners purchased a new stake in shares of Axcelis Technologies during the first quarter worth $20,819,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

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.