GSA Capital Partners LLP Sells 15,115 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Key Points

• GSA Capital Partners LLP has significantly reduced its stake in Axcelis Technologies, decreasing its holdings by 44.6% during the 1st quarter, now owning approximately 18,809 shares valued at $934,000.
• Axcelis Technologies reported earnings of $1.04 per share, exceeding expectations by $0.65, despite a 23.7% year-over-year revenue decline for the quarter.
• Analyst ratings for Axcelis Technologies indicate a consensus of "Hold" with an average price target of $118.33, reflecting mixed sentiment among investment analysts.

GSA Capital Partners LLP trimmed its holdings in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 44.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,809 shares of the semiconductor company's stock after selling 15,115 shares during the period. GSA Capital Partners LLP owned about 0.06% of Axcelis Technologies worth $934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ACLS. Raymond James Financial Inc. bought a new stake in Axcelis Technologies in the 4th quarter valued at about $397,000. Nisa Investment Advisors LLC boosted its stake in Axcelis Technologies by 97.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 796 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 393 shares during the period. LPL Financial LLC lifted its holdings in shares of Axcelis Technologies by 36.1% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Axcelis Technologies in the fourth quarter valued at approximately $298,000. Finally, Homestead Advisers Corp grew its stake in Axcelis Technologies by 15.5% during the first quarter. Homestead Advisers Corp now owns 34,200 shares of the semiconductor company's stock valued at $1,699,000 after acquiring an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Trading Up 10.1%

ACLS traded up $7.19 on Tuesday, hitting $78.07. 902,339 shares of the company were exchanged, compared to its average volume of 634,838. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.08 and a current ratio of 5.56. Axcelis Technologies, Inc. has a 12 month low of $40.40 and a 12 month high of $117.57. The firm has a fifty day simple moving average of $68.61 and a two-hundred day simple moving average of $61.23. The stock has a market capitalization of $2.51 billion, a PE ratio of 14.31 and a beta of 1.58.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.65. The business had revenue of $192.56 million for the quarter, compared to analyst estimates of $184.86 million. Axcelis Technologies had a net margin of 18.58% and a return on equity of 18.55%. The company's revenue was down 23.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.57 EPS. Sell-side analysts expect that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Insider Activity

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the company's stock in a transaction that occurred 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 owned 35,050 shares of the company's stock, 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 SEC, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, B. Riley upped their target price on Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $90.00.

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.