Axcelis Technologies (NASDAQ:ACLS) Sets New 1-Year Low – Here’s Why

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $93.69 and last traded at $93.79, with a volume of 652079 shares changing hands. The stock had previously closed at $95.65.

Analysts Set New Price Targets

ACLS has been the topic of several recent research reports. DA Davidson lifted their target price on shares of Axcelis Technologies from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Bank of America boosted their price objective on shares of Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. B. Riley decreased their price objective on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Craig Hallum lifted their target price on Axcelis Technologies from $130.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Benchmark reduced their price target on Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Axcelis Technologies currently has an average rating of “Moderate Buy” and an average target price of $167.33.

Axcelis Technologies Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.26 and a current ratio of 4.42. The business has a 50 day moving average price of $104.88 and a 200-day moving average price of $115.03. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 3.02 and a beta of 1.58.

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

Insiders Place Their Bets

In related news, Director Jorge Titinger sold 6,086 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $109.98, for a total value of $669,338.28. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Homestead Advisers Corp purchased a new position in shares of Axcelis Technologies during the first quarter valued at approximately $1,227,000. SG Americas Securities LLC bought a new stake in shares of Axcelis Technologies in the 1st quarter worth $791,000. Harbor Capital Advisors Inc. raised its holdings in shares of Axcelis Technologies by 309.0% in the second quarter. Harbor Capital Advisors Inc. now owns 17,549 shares of the semiconductor company’s stock valued at $2,495,000 after purchasing an additional 13,258 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Axcelis Technologies during the first quarter valued at about $594,000. Finally, Virtu Financial LLC boosted its holdings in Axcelis Technologies by 281.5% during the first quarter. Virtu Financial LLC now owns 12,467 shares of the semiconductor company’s stock worth $1,390,000 after purchasing an additional 9,199 shares during the last quarter. 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.