Axcelis Technologies, Inc. (NASDAQ:ACLS) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,534 shares of the semiconductor company's stock after selling 13,830 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Axcelis Technologies worth $10,557,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Axcelis Technologies in the fourth quarter valued at approximately $397,000. Swiss National Bank raised its position in Axcelis Technologies by 0.9% in the 4th quarter. Swiss National Bank now owns 64,100 shares of the semiconductor company's stock valued at $4,479,000 after buying an additional 600 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Axcelis Technologies by 10.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,686 shares of the semiconductor company's stock valued at $747,000 after purchasing an additional 1,008 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Axcelis Technologies in the 4th quarter worth about $213,000. Finally, Signaturefd LLC grew its holdings in Axcelis Technologies by 90.6% during the 4th quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock valued at $25,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley boosted their target price on Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Axcelis Technologies currently has a consensus rating of "Hold" and an average price target of $118.33.

Axcelis Technologies Trading Up 5.0%

NASDAQ:ACLS opened at $74.54 on Tuesday. 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 stock has a market cap of $2.39 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 4.76 and a beta of 1.57. Axcelis Technologies, Inc. has a one year low of $40.40 and a one year high of $137.99. The business's 50-day simple moving average is $66.29 and its 200 day simple moving average is $61.15.

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

Insider Activity

In other news, Director John T. Kurtzweil sold 1,682 shares of Axcelis Technologies 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 transaction, the director directly owned 35,050 shares in the company, valued at $2,170,646.50. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by 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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