Arrowpoint Investment Partners Singapore Pte. Ltd. Takes Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Key Points

• Arrowpoint Investment Partners has acquired a new stake in Axcelis Technologies, purchasing 6,100 shares valued at approximately $303,000 during the first quarter.
• Axcelis Technologies reported $1.13 earnings per share for the latest quarter, significantly exceeding analysts' estimates of $0.73, despite experiencing a 24.2% decline in year-over-year revenue.
• As of now, 89.98% of Axcelis Technologies' stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the semiconductor company.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,100 shares of the semiconductor company's stock, valued at approximately $303,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Axcelis Technologies by 118.7% in the first quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 317 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Axcelis Technologies by 160.5% in the first quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 358 shares in the last quarter. Bayforest Capital Ltd bought a new stake in Axcelis Technologies in the first quarter worth $38,000. Nisa Investment Advisors LLC boosted its holdings in Axcelis Technologies by 97.5% in the first quarter. Nisa Investment Advisors LLC now owns 796 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 393 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in Axcelis Technologies in the first quarter worth $44,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Axcelis Technologies

In related 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 transaction, the director directly owned 35,050 shares in the company, valued at $2,170,646.50. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is owned by corporate insiders.

Axcelis Technologies Stock Up 4.3%

Axcelis Technologies stock opened at $81.32 on Wednesday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 16.63 and a beta of 1.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.01 and a quick ratio of 4.26. Axcelis Technologies, Inc. has a fifty-two week low of $40.40 and a fifty-two week high of $117.57. The firm has a fifty day moving average price of $71.36 and a two-hundred day moving average price of $61.61.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last released its earnings results on Tuesday, August 5th. The semiconductor company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.40. The firm had revenue of $194.54 million during the quarter, compared to analyst estimates of $185.15 million. Axcelis Technologies had a net margin of 17.69% and a return on equity of 16.26%. The business's revenue was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, analysts forecast that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

ACLS has been the subject of a number of recent research reports. B. Riley upped their price objective on shares of Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. DA Davidson boosted their target price on shares of Axcelis Technologies from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $90.00.

Axcelis Technologies 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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