Bridges Investment Management Inc. Grows Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Bridges Investment Management Inc. lifted its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 130.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,793 shares of the semiconductor company's stock after purchasing an additional 14,589 shares during the quarter. Bridges Investment Management Inc. owned about 0.08% of Axcelis Technologies worth $1,281,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Signaturefd LLC raised its stake in shares of Axcelis Technologies by 90.6% during the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 173 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Axcelis Technologies by 118.7% during 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 during the last quarter. Fifth Third Bancorp raised its stake in shares of Axcelis Technologies by 160.5% during 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 during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Axcelis Technologies by 97.5% during 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 during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in shares of Axcelis Technologies during the first quarter worth approximately $44,000. Hedge funds and other institutional investors own 89.98% of the company's stock.

Axcelis Technologies Trading Up 0.2%

Shares of ACLS stock opened at $74.37 on Thursday. The business's fifty day moving average price is $63.79 and its 200 day moving average price is $61.21. Axcelis Technologies, Inc. has a 1-year low of $40.40 and a 1-year high of $158.61. The firm has a market capitalization of $2.39 billion, a PE ratio of 13.62, a P/E/G ratio of 4.98 and a beta of 1.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.56 and a quick ratio of 4.08.

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

Axcelis Technologies announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total transaction of $104,166.26. Following the sale, the director directly owned 35,050 shares in the company, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley upped their price objective on Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $136.00.

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.

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