8,400 Shares in Axcelis Technologies, Inc. (NASDAQ:ACLS) Bought by Brookwood Investment Group LLC

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 acquired a new position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,400 shares of the semiconductor company's stock, valued at approximately $417,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS boosted its stake in shares of Axcelis Technologies by 70.8% in the 1st quarter. KLP Kapitalforvaltning AS now owns 11,100 shares of the semiconductor company's stock worth $551,000 after buying an additional 4,600 shares during the last quarter. Homestead Advisers Corp lifted its stake in Axcelis Technologies by 15.5% in the first quarter. Homestead Advisers Corp now owns 34,200 shares of the semiconductor company's stock valued at $1,699,000 after purchasing an additional 4,600 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Axcelis Technologies in the first quarter valued at approximately $701,000. Peterson Wealth Services lifted its stake in Axcelis Technologies by 18.7% in the first quarter. Peterson Wealth Services now owns 9,131 shares of the semiconductor company's stock valued at $454,000 after purchasing an additional 1,438 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its stake in Axcelis Technologies by 3.8% in the first quarter. Eagle Bay Advisors LLC now owns 7,585 shares of the semiconductor company's stock valued at $377,000 after purchasing an additional 275 shares during the last quarter. 89.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John T. Kurtzweil sold 1,682 shares of the company's 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 owned 35,050 shares in the company, valued at $2,170,646.50. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

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

Axcelis Technologies Price Performance

Shares of ACLS traded down $1.97 during trading hours on Tuesday, reaching $73.42. 163,866 shares of the stock traded hands, compared to its average volume of 631,421. The company has a market cap of $2.36 billion, a P/E ratio of 13.52 and a beta of 1.57. Axcelis Technologies, Inc. has a 52-week low of $40.40 and a 52-week high of $127.88. The company has a current ratio of 5.56, a quick ratio of 4.08 and a debt-to-equity ratio of 0.04. The company's 50-day moving average price is $67.74 and its two-hundred day moving average price is $61.22.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last announced its quarterly 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 net margin of 18.58% and a return on equity of 18.55%. The firm had revenue of $192.56 million during the quarter, compared to analysts' expectations of $184.86 million. During the same quarter in the prior year, the company earned $1.57 EPS. The company's revenue was down 23.7% compared to the same quarter last year. On average, analysts anticipate that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

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.