Allianz Asset Management GmbH Sells 43,425 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Key Points

• Allianz Asset Management GmbH reduced its stake in Axcelis Technologies by 74.9%, selling 43,425 shares during the first quarter, leaving it with 14,530 shares valued at $722,000.
• In contrast, Fifth Third Bancorp and Versant Capital Management Inc increased their stakes in Axcelis Technologies by over 160% and 118% respectively during the same period.
• Analysts at B. Riley raised their target price for Axcelis Technologies from $58 to $75 while maintaining a "neutral" rating on the stock.

Allianz Asset Management GmbH reduced its holdings in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 74.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,530 shares of the semiconductor company's stock after selling 43,425 shares during the period. Allianz Asset Management GmbH's holdings in Axcelis Technologies were worth $722,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Peterson Wealth Services lifted its holdings in shares of Axcelis Technologies by 18.7% in the 1st quarter. Peterson Wealth Services now owns 9,131 shares of the semiconductor company's stock valued at $454,000 after buying an additional 1,438 shares during the period. Eagle Bay Advisors LLC lifted its holdings in Axcelis Technologies by 3.8% in the first quarter. Eagle Bay Advisors LLC now owns 7,585 shares of the semiconductor company's stock valued at $377,000 after acquiring an additional 275 shares during the last quarter. Private Advisor Group LLC lifted its stake in Axcelis Technologies by 783.3% during the first quarter. Private Advisor Group LLC now owns 53,575 shares of the semiconductor company's stock worth $2,661,000 after purchasing an additional 47,510 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Axcelis Technologies by 9.3% during the first quarter. Victory Capital Management Inc. now owns 19,163 shares of the semiconductor company's stock worth $952,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Axcelis Technologies by 255.5% during the first quarter. Signaturefd LLC now owns 1,294 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 930 shares in the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Axcelis Technologies Price Performance

Shares of Axcelis Technologies stock traded down $2.05 during trading on Wednesday, hitting $75.97. 691,219 shares of the company were exchanged, compared to its average volume of 639,760. The company has a quick ratio of 4.08, a current ratio of 5.56 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a fifty-two week low of $40.40 and a fifty-two week high of $117.57. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.91 and a beta of 1.58. The firm has a 50 day moving average price of $69.23 and a 200 day moving average price of $61.34.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.40. Axcelis Technologies had a net margin of 18.58% and a return on equity of 18.55%. The firm had revenue of $194.54 million for the quarter, compared to analyst estimates of $185.15 million. During the same quarter in the previous year, the business posted $1.55 EPS. The firm's revenue was down 24.2% compared to the same quarter last year. On average, equities analysts expect that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of Axcelis Technologies 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 sale, the director owned 35,050 shares of the company's stock, valued at $2,170,646.50. This trade represents a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Axcelis Technologies has a consensus rating of "Hold" and a consensus target price of $90.00.

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.