Axcelis Technologies, Inc. (NASDAQ:ACLS) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in Axcelis Technologies by 15.7%, selling 52,443 shares, and now owns 280,983 shares worth approximately $13.96 million.
• Analyst firm B. Riley raised its price target for Axcelis Technologies from $58 to $75 while maintaining a "neutral" rating on the stock.
• Axcelis Technologies reported earnings exceeding expectations with $1.04 per share, compared to an estimate of $0.39, although it experienced a 23.7% decline in quarterly revenue year-over-year.

Royce & Associates LP decreased its holdings in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 15.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,983 shares of the semiconductor company's stock after selling 52,443 shares during the period. Royce & Associates LP owned approximately 0.87% of Axcelis Technologies worth $13,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in Axcelis Technologies by 3.9% during the 4th quarter. Bank of Montreal Can now owns 4,540 shares of the semiconductor company's stock worth $317,000 after purchasing an additional 170 shares during the period. Perkins Coie Trust Co lifted its stake in Axcelis Technologies by 9.2% in the 1st quarter. Perkins Coie Trust Co now owns 2,675 shares of the semiconductor company's stock valued at $133,000 after buying an additional 225 shares in the last quarter. Eagle Bay Advisors LLC lifted its stake in Axcelis Technologies by 3.8% in the 1st quarter. Eagle Bay Advisors LLC now owns 7,585 shares of the semiconductor company's stock valued at $377,000 after buying an additional 275 shares in the last quarter. Versant Capital Management Inc lifted its stake in 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 buying an additional 317 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Axcelis Technologies by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Trading Up 2.5%

Shares of ACLS traded up $1.81 during trading hours on Monday, hitting $75.21. The stock had a trading volume of 76,546 shares, compared to its average volume of 632,139. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.08 and a current ratio of 5.56. The firm has a market cap of $2.42 billion, a P/E ratio of 13.77 and a beta of 1.57. The company's fifty day simple moving average is $67.47 and its 200 day simple moving average is $61.18. Axcelis Technologies, Inc. has a 12-month low of $40.40 and a 12-month high of $128.70.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.65. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. The business had revenue of $192.56 million for the quarter, compared to analyst estimates of $184.86 million. During the same period last year, the company posted $1.57 EPS. The business's quarterly revenue was down 23.7% on a year-over-year basis. Equities research analysts forecast that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, B. Riley increased 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $118.33.

Insider Transactions at Axcelis Technologies

In related news, Director John T. Kurtzweil sold 1,682 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the sale, the director directly owned 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% 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.