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

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

Analysts Set New Price Targets

Separately, B. Riley restated a "neutral" rating and issued a $50.00 price target (down 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 stock. According to data from MarketBeat.com, Axcelis Technologies presently has a consensus rating of "Hold" and an average price target of $131.00.

Axcelis Technologies Trading Up 6.0%

The business's 50 day moving average price is $55.38 and its 200-day moving average price is $61.57. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 11.21, a PEG 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 released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $184.86 million. During the same period in the previous year, the business earned $1.57 earnings per share. The company's quarterly revenue was down 23.7% on a year-over-year basis. On average, research analysts forecast that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Axcelis Technologies declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, Director John T. Kurtzweil sold 1,682 shares of the stock in a transaction dated 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 sale, the director now owns 35,050 shares in the company, valued at $2,170,646.50. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Axcelis Technologies

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Axcelis Technologies during the 4th quarter worth approximately $397,000. Principal Financial Group Inc. boosted 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. LPL Financial LLC grew its holdings in shares of Axcelis Technologies by 36.1% during the fourth quarter. LPL Financial LLC now owns 60,834 shares of the semiconductor company's stock worth $4,250,000 after purchasing an additional 16,152 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Axcelis Technologies in the fourth quarter valued at $465,000. Finally, Private Advisor Group LLC bought a new position in shares of Axcelis Technologies in the fourth quarter valued at about $424,000. Institutional investors and hedge funds 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.