Brookwood Investment Group LLC Takes $417,000 Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Key Points

• Brookwood Investment Group LLC has invested approximately $417,000 in Axcelis Technologies, acquiring 8,400 shares in the semiconductor company during the first quarter.
• Axcelis Technologies reported a quarterly earnings per share (EPS) of $1.04, significantly exceeding analysts' expectations of $0.39, despite experiencing a 23.7% decline in revenue year-over-year.
• The company’s shares have recently been upgraded, with B. Riley increasing their target price from $58.00 to $75.00, maintaining a "neutral" rating amidst varying analyst opinions.

Brookwood Investment Group LLC bought a new position in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,400 shares of the semiconductor company's stock, valued at approximately $417,000.

Several other hedge funds also recently made changes to their positions in ACLS. Bank of Montreal Can lifted its holdings in shares of Axcelis Technologies by 3.9% in 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 last quarter. Perkins Coie Trust Co lifted its holdings in shares of Axcelis Technologies by 9.2% in the 1st quarter. Perkins Coie Trust Co now owns 2,675 shares of the semiconductor company's stock worth $133,000 after purchasing an additional 225 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in shares of Axcelis Technologies by 3.8% in the 1st quarter. Eagle Bay Advisors LLC now owns 7,585 shares of the semiconductor company's stock worth $377,000 after purchasing an additional 275 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 317 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Axcelis Technologies by 160.5% in 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 last quarter. Institutional investors and hedge funds own 89.98% of the company's stock.

Insider Activity at Axcelis Technologies

In other 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 value of $104,166.26. Following the sale, the director owned 35,050 shares of the company's stock, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.48% of the company's stock.

Axcelis Technologies Stock Performance

Axcelis Technologies stock traded up $0.55 during mid-day trading on Friday, hitting $73.40. 246,529 shares of the company's stock traded hands, compared to its average volume of 442,855. The firm has a 50 day moving average price of $67.47 and a 200 day moving average price of $61.35. The company has a quick ratio of 4.08, a current ratio of 5.56 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.36 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 4.92 and a beta of 1.57. Axcelis Technologies, Inc. has a one year low of $40.40 and a one year high of $128.70.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.65. The firm 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%. The firm's revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. On average, equities analysts forecast that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Wall Street Analyst Weigh In

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

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.