Axcelis Technologies (NASDAQ:ACLS) Trading Down 6.5% – Here’s Why

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) were down 6.5% on Tuesday . The company traded as low as $98.00 and last traded at $98.29. Approximately 466,240 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 625,783 shares. The stock had previously closed at $105.10.

Wall Street Analysts Forecast Growth

ACLS has been the topic of several recent analyst reports. Craig Hallum lifted their price target on shares of Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a report on Friday, July 12th. DA Davidson lifted their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research note on Friday, August 2nd. Benchmark decreased their price objective on Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Bank of America upped their target price on shares of Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Axcelis Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $167.33.

Axcelis Technologies Trading Down 1.9 %

The firm has a market capitalization of $3.05 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 3.02 and a beta of 1.58. The stock’s 50-day simple moving average is $104.88 and its two-hundred day simple moving average is $115.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.42 and a quick ratio of 3.26.

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, topping analysts’ consensus estimates of $1.37 by $0.18. The business had revenue of $256.51 million during 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%. Axcelis Technologies’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 EPS. Equities research analysts expect that Axcelis Technologies, Inc. will post 6.05 EPS for the current year.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, Director Jorge Titinger sold 6,086 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $109.98, for a total transaction of $669,338.28. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at $647,892.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC increased its stake in Axcelis Technologies by 348.9% during the second quarter. Signaturefd LLC now owns 211 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 164 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Axcelis Technologies by 109.4% during the 1st quarter. GAMMA Investing LLC now owns 266 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 139 shares during the last quarter. Blue Trust Inc. raised its holdings in Axcelis Technologies by 223.8% during the 2nd quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 188 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Axcelis Technologies in the second quarter worth $39,000. Finally, Meeder Asset Management Inc. purchased a new position in Axcelis Technologies during the second quarter worth $69,000. 89.98% of the stock is currently owned by institutional investors.

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.