Illumine Investment Management LLC Makes New $483,000 Investment in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Illumine Investment Management LLC purchased 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,731 shares of the semiconductor company's stock, valued at approximately $483,000.

Several other hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers lifted its position in Axcelis Technologies by 0.5% in the fourth quarter. Rhumbline Advisers now owns 90,842 shares of the semiconductor company's stock valued at $6,347,000 after purchasing an additional 477 shares during the period. Principal Financial Group Inc. raised its stake in shares of Axcelis Technologies by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 188,559 shares of the semiconductor company's stock worth $13,175,000 after buying an additional 7,476 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Axcelis Technologies in the 4th quarter valued at approximately $341,000. Private Advisor Group LLC purchased a new stake in shares of Axcelis Technologies in the fourth quarter valued at approximately $424,000. Finally, Capital Advisors Ltd. LLC raised its position in Axcelis Technologies by 1,415.2% in the fourth quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 467 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Axcelis Technologies Price Performance

ACLS stock traded up $3.11 during midday trading on Tuesday, hitting $69.64. 532,498 shares of the stock were exchanged, compared to its average volume of 654,434. The stock's 50-day moving average price is $57.85 and its 200-day moving average price is $61.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.08 and a current ratio of 5.56. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 4.46 and a beta of 1.52. Axcelis Technologies, Inc. has a fifty-two week low of $40.40 and a fifty-two week high of $158.61.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last released its quarterly 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. The business had revenue of $192.56 million during the quarter, compared to the consensus estimate of $184.86 million. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. The business's revenue was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.57 EPS. Research analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current 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 reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

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 stock a "neutral" rating in a research report on Wednesday, June 18th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Axcelis Technologies has a consensus rating of "Hold" and a consensus target price of $136.00.

Insider Buying and Selling at Axcelis Technologies

In related news, Director John T. Kurtzweil sold 1,682 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the transaction, the director now owns 35,050 shares of the company's stock, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.48% of the company's stock.

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.