Focus Partners Wealth Cuts Holdings in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Focus Partners Wealth cut its holdings in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 59.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,357 shares of the semiconductor company's stock after selling 21,006 shares during the period. Focus Partners Wealth's holdings in Axcelis Technologies were worth $1,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC lifted its position in Axcelis Technologies by 90.6% during the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 173 shares during the last quarter. Avior Wealth Management LLC lifted its position in Axcelis Technologies by 1,153.8% during the fourth quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company's stock valued at $34,000 after acquiring an additional 450 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Axcelis Technologies by 1,415.2% during the fourth quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 467 shares during the last quarter. Blue Trust Inc. lifted its position in Axcelis Technologies by 85.5% during the fourth quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 289 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Axcelis Technologies by 184.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 433 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John T. Kurtzweil sold 1,682 shares of the firm's stock in a transaction on 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 now owns 35,050 shares of the company's stock, valued at $2,170,646.50. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Axcelis Technologies Stock Performance

Shares of NASDAQ ACLS traded down $0.73 during midday trading on Friday, reaching $58.32. The company had a trading volume of 326,436 shares, compared to its average volume of 649,503. The business's 50-day simple moving average is $52.12 and its 200 day simple moving average is $63.40. The stock has a market cap of $1.87 billion, a P/E ratio of 9.48, a P/E/G ratio of 4.52 and a beta of 1.52. Axcelis Technologies, Inc. has a 1 year low of $40.40 and a 1 year high of $158.61. The company has a current ratio of 5.41, a quick ratio of 4.05 and a debt-to-equity ratio of 0.04.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.65. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. The firm had revenue of $192.56 million during the quarter, compared to analysts' expectations of $184.86 million. During the same quarter last year, the company posted $1.57 earnings per share. The firm's revenue was down 23.7% compared to the same quarter last year. On average, analysts forecast that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

Axcelis Technologies declared that its board has authorized a share repurchase plan on Wednesday, March 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ACLS shares. B. Riley reaffirmed a "neutral" rating and issued a $50.00 price target (down previously from $80.00) on shares of Axcelis Technologies in a report on Monday, April 21st. William Blair cut shares of Axcelis Technologies from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $131.00.

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.