Exchange Traded Concepts LLC Takes Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

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

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in Axcelis Technologies in the first quarter valued at approximately $44,000. Fifth Third Bancorp increased its holdings in shares of Axcelis Technologies by 160.5% in the first quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 358 shares during the period. SG Americas Securities LLC increased its holdings in shares of Axcelis Technologies by 10.1% in the first quarter. SG Americas Securities LLC now owns 8,404 shares of the semiconductor company's stock valued at $417,000 after purchasing an additional 774 shares during the period. GAMMA Investing LLC increased its holdings in shares of Axcelis Technologies by 89.0% in the first quarter. GAMMA Investing LLC now owns 1,576 shares of the semiconductor company's stock valued at $78,000 after purchasing an additional 742 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Axcelis Technologies by 60.1% in the first quarter. Harbor Capital Advisors Inc. now owns 140,582 shares of the semiconductor company's stock valued at $6,983,000 after purchasing an additional 52,757 shares during the period. Hedge funds and other institutional investors own 89.98% of the company's stock.

Analyst Ratings Changes

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

Axcelis Technologies Price Performance

Shares of NASDAQ:ACLS traded up $3.11 on Tuesday, hitting $69.64. The company had a trading volume of 532,498 shares, compared to its average volume of 654,434. The company has a current ratio of 5.56, a quick ratio of 4.08 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 52-week low of $40.40 and a 52-week high of $158.61. The business has a 50 day moving average of $57.85 and a 200 day moving average of $61.23. The company has a market cap of $2.24 billion, a PE ratio of 12.75, a PEG ratio of 4.46 and a beta of 1.52.

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

Axcelis Technologies declared that its board has approved a share repurchase program on Wednesday, March 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director John T. Kurtzweil sold 1,682 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total value of $104,166.26. Following the transaction, the director now directly owns 35,050 shares in the company, valued at $2,170,646.50. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

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.