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

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $70.04 and last traded at $70.24, with a volume of 66399 shares changing hands. The stock had previously closed at $72.14.

Analysts Set New Price Targets

ACLS has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Benchmark lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, B. Riley cut their target price 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.33.

Axcelis Technologies Trading Down 2.4 %

The company has a current ratio of 4.45, a quick ratio of 3.29 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $94.75 and a 200-day moving average price of $112.56. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.28 and a beta of 1.60.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds have recently made changes to their positions in the business. CWM LLC boosted its holdings in Axcelis Technologies by 4.8% during the second quarter. CWM LLC now owns 1,506 shares of the semiconductor company’s stock worth $214,000 after buying an additional 69 shares in the last quarter. Xponance Inc. boosted its stake 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 acquiring an additional 92 shares in the last quarter. Andina Capital Management LLC grew its holdings in shares of Axcelis Technologies by 3.7% in the 2nd quarter. Andina Capital Management LLC now owns 2,791 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 99 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Axcelis Technologies by 17.5% during the first quarter. Advisors Asset Management Inc. now owns 670 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 100 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds 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.