Axcelis Technologies, Inc. (NASDAQ:ACLS) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA has reduced its holdings in Axcelis Technologies by 8.9%, now owning about 2.59% of the company worth approximately $41.5 million.
• Axcelis Technologies reported $1.13 earnings per share (EPS) for the last quarter, significantly exceeding analysts' expectations of $0.73, although its revenue was down 24.2% year-over-year.
• According to analysts, Axcelis Technologies has an average target price of $90.00, with some analysts rating the stock as a "buy" due to its growth potential.

Primecap Management Co. CA cut its holdings in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 8.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 835,066 shares of the semiconductor company's stock after selling 81,360 shares during the period. Primecap Management Co. CA owned about 2.59% of Axcelis Technologies worth $41,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in Axcelis Technologies by 118.7% in the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 317 shares in the last quarter. Fifth Third Bancorp grew its holdings in 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 buying an additional 358 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Axcelis Technologies during the first quarter worth about $38,000. Nisa Investment Advisors LLC increased its holdings in shares of Axcelis Technologies by 97.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 796 shares of the semiconductor company's stock worth $40,000 after buying an additional 393 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Axcelis Technologies in the first quarter valued at $44,000. Hedge funds and other institutional investors own 89.98% of the company's stock.

Axcelis Technologies Stock Performance

Shares of ACLS opened at $75.72 on Thursday. The company has a quick ratio of 4.08, a current ratio of 6.01 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 52-week low of $40.40 and a 52-week high of $117.57. The company has a 50-day simple moving average of $69.59 and a 200-day simple moving average of $61.44. The company has a market capitalization of $2.43 billion, a PE ratio of 15.48 and a beta of 1.58.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. B. Riley lifted their price objective on Axcelis Technologies from $58.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. DA Davidson increased their target price on Axcelis Technologies from $75.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $90.00.

Insider Activity at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,682 shares of the firm's stock in a transaction that occurred 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 directly 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 document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by corporate insiders.

About Axcelis Technologies

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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