Axcelis Technologies (NASDAQ:ACLS) Trading Down 5.6% - Here's What Happened

Axcelis Technologies, Inc. (NASDAQ:ACLS - Get Free Report)'s stock price was down 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 Analysts Forecast Growth

Separately, B. Riley lifted their price target on Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $132.50.

Axcelis Technologies Stock Down 4.0%

The firm's 50 day moving average is $64.77 and its two-hundred day moving average is $61.11. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 5.02 and a beta of 1.57. The company has a current ratio of 5.56, a quick ratio of 4.08 and a debt-to-equity ratio of 0.04.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.65. Axcelis Technologies had a net margin of 18.58% and a return on equity of 18.55%. The company had revenue of $192.56 million during the quarter, compared to the consensus estimate of $184.86 million. During the same quarter in the prior year, the company posted $1.57 EPS. The company's quarterly revenue was down 23.7% compared to the same quarter last year. On average, sell-side analysts predict that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Insider Activity at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,682 shares of the business's 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 completion of the sale, the director owned 35,050 shares in the company, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axcelis Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Axcelis Technologies by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,439,902 shares of the semiconductor company's stock worth $220,530,000 after acquiring an additional 43,768 shares during the period. Reinhart Partners LLC. boosted its stake in shares of Axcelis Technologies by 5.4% during the 2nd quarter. Reinhart Partners LLC. now owns 1,518,544 shares of the semiconductor company's stock valued at $105,828,000 after buying an additional 77,522 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Axcelis Technologies by 7.6% during the 1st quarter. American Century Companies Inc. now owns 1,140,495 shares of the semiconductor company's stock valued at $56,648,000 after buying an additional 80,399 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Axcelis Technologies by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 897,750 shares of the semiconductor company's stock valued at $62,738,000 after buying an additional 23,234 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of Axcelis Technologies by 0.8% during the 1st quarter. Boston Trust Walden Corp now owns 826,332 shares of the semiconductor company's stock valued at $41,044,000 after buying an additional 6,216 shares during the last quarter. Hedge funds and other institutional investors 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.

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