Axcelis Technologies (NASDAQ:ACLS) Trading Down 5.7% - Should You Sell?

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Get Free Report) fell 5.7% during trading on Friday . The stock traded as low as $65.65 and last traded at $64.96. 79,604 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 655,092 shares. The stock had previously closed at $68.91.

Wall Street Analysts Forecast Growth

Separately, B. Riley reiterated a "neutral" rating and issued a $50.00 price target (down previously from $80.00) on shares of Axcelis Technologies in a research report on Monday, April 21st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $131.00.

Axcelis Technologies Stock Performance

The firm's 50-day moving average is $55.38 and its 200 day moving average is $61.73. The stock has a market cap of $2.09 billion, a PE ratio of 10.58, a P/E/G ratio of 4.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.05 and a current ratio of 5.41.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.65. The company had revenue of $192.56 million during the quarter, compared to the consensus estimate of $184.86 million. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. Axcelis Technologies's quarterly revenue was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. As a group, research analysts anticipate that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Axcelis Technologies declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Axcelis Technologies

A number of large investors have recently made changes to their positions in ACLS. Signaturefd LLC increased its holdings in shares of Axcelis Technologies by 90.6% in the 4th quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 173 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Axcelis Technologies by 118.7% in the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 317 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Axcelis Technologies by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Axcelis Technologies by 1,415.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 467 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Axcelis Technologies in the 1st quarter valued at about $38,000. 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.