Axcelis Technologies (NASDAQ:ACLS) Stock Price Down 5.6% - Here's Why

Axcelis Technologies, Inc. (NASDAQ:ACLS - Get Free Report) shares dropped 5.6% during mid-day trading on Monday . The stock traded as low as $70.82 and last traded at $70.67. Approximately 101,683 shares were traded during trading, a decline of 84% from the average daily volume of 647,545 shares. The stock had previously closed at $74.86.

Wall Street Analyst Weigh In

Separately, B. Riley lifted their price objective on Axcelis Technologies from $58.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $118.33.

Axcelis Technologies Stock Down 0.2%

The company has a quick ratio of 4.08, a current ratio of 5.56 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $65.77 and a two-hundred day simple moving average of $61.26. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 4.81 and a beta of 1.57.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.39 by $0.65. The business had revenue of $192.56 million for the quarter, compared to the consensus estimate of $184.86 million. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. Axcelis Technologies's revenue was down 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 EPS. Equities analysts expect that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the sale, the director owned 35,050 shares in the company, valued at approximately $2,170,646.50. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its position in Axcelis Technologies by 90.6% in the 4th quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 173 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Axcelis Technologies by 50.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 481 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 161 shares during the last quarter. Parallel Advisors LLC raised its position in Axcelis Technologies by 129.0% in the 2nd quarter. Parallel Advisors LLC now owns 545 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 307 shares during the last quarter. Fifth Third Bancorp raised its position in Axcelis Technologies by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 358 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Axcelis Technologies by 118.7% in the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 317 shares during the last quarter. Institutional investors 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.