Exchange Traded Concepts LLC Invests $222,000 in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Exchange Traded Concepts LLC bought a new position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,475 shares of the semiconductor company's stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Axcelis Technologies during the 4th quarter worth $397,000. Principal Financial Group Inc. lifted its position in Axcelis Technologies by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 188,559 shares of the semiconductor company's stock valued at $13,175,000 after buying an additional 7,476 shares during the last quarter. LPL Financial LLC boosted its stake in Axcelis Technologies by 36.1% during the fourth quarter. LPL Financial LLC now owns 60,834 shares of the semiconductor company's stock worth $4,250,000 after buying an additional 16,152 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Axcelis Technologies during the fourth quarter valued at about $298,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Axcelis Technologies during the fourth quarter valued at about $424,000. Institutional investors and hedge funds own 89.98% of the company's stock.

Insider Transactions at Axcelis Technologies

In related 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 completion of the transaction, the director now directly owns 35,050 shares of the company's stock, valued at $2,170,646.50. The trade was a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

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

Axcelis Technologies Trading Up 1.1%

NASDAQ:ACLS traded up $0.76 on Thursday, reaching $70.92. 514,900 shares of the company's stock were exchanged, compared to its average volume of 655,444. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 4.71 and a beta of 1.52. Axcelis Technologies, Inc. has a 52-week low of $40.40 and a 52-week high of $158.61. 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 business has a fifty day moving average of $58.81 and a 200-day moving average of $61.35.

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

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

Axcelis Technologies 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.