Axcelis Technologies (NASDAQ:ACLS) Trading 6.8% Higher - Time to Buy?

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Get Free Report) traded up 6.8% during mid-day trading on Monday . The stock traded as high as $67.70 and last traded at $67.81. 169,607 shares changed hands during trading, a decline of 74% from the average session volume of 647,745 shares. The stock had previously closed at $63.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. William Blair cut Axcelis Technologies from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. Finally, B. Riley reaffirmed a "neutral" rating and issued a $50.00 target price (down from $80.00) on shares of Axcelis Technologies in a research report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Axcelis Technologies has an average rating of "Hold" and an average price target of $131.00.

Axcelis Technologies Stock Up 1.4%

The firm has a 50-day simple moving average of $54.45 and a 200 day simple moving average of $61.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.05. The company has a market capitalization of $2.21 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 4.52 and a beta of 1.52.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.39 by $0.65. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. The company had revenue of $192.56 million for the quarter, compared to analyst estimates of $184.86 million. During the same period last year, the company posted $1.57 earnings per share. The firm's revenue was down 23.7% compared to the same quarter last year. On average, research analysts predict that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

Axcelis Technologies announced that its Board of Directors has initiated a share buyback program on Wednesday, March 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,682 shares of Axcelis Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total transaction of $104,166.26. Following the sale, the director now directly owns 35,050 shares of the company's stock, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Institutional Trading of Axcelis Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Financial Concepts LLC acquired a new position in Axcelis Technologies in the fourth quarter worth about $727,000. Empowered Funds LLC acquired a new position in Axcelis Technologies in the fourth quarter worth about $465,000. Rhumbline Advisers grew its stake in Axcelis Technologies by 0.5% in the fourth quarter. Rhumbline Advisers now owns 90,842 shares of the semiconductor company's stock worth $6,347,000 after purchasing an additional 477 shares in the last quarter. Palouse Capital Management Inc. acquired a new position in Axcelis Technologies in the fourth quarter worth about $79,000. Finally, Principal Financial Group Inc. grew its stake in Axcelis Technologies by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 188,559 shares of the semiconductor company's stock worth $13,175,000 after purchasing an additional 7,476 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other 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.