Jackson Square Partners LLC Has $10.45 Million Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Key Points

• Jackson Square Partners LLC increased its stake in Axcelis Technologies, Inc. by 12.7% during the first quarter, holding 210,344 shares valued at approximately $10.45 million.
• Axcelis Technologies reported $1.13 earnings per share for the last quarter, exceeding analysts' estimates, but experienced a 24.2% decline in revenue compared to the previous year.
• Analysts have a consensus rating of "Hold" for Axcelis Technologies, with a newly adjusted average target price of $90.00, reflecting positive growth expectations.

Jackson Square Partners LLC increased its stake in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 12.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 210,344 shares of the semiconductor company's stock after purchasing an additional 23,754 shares during the period. Jackson Square Partners LLC owned approximately 0.65% of Axcelis Technologies worth $10,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Axcelis Technologies during the 4th quarter worth about $397,000. Nisa Investment Advisors LLC raised its stake in shares of Axcelis Technologies by 97.5% during 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 in the last quarter. LPL Financial LLC raised its position 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 acquiring an additional 16,152 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Axcelis Technologies during the 4th quarter worth about $298,000. Finally, Homestead Advisers Corp lifted its stake in Axcelis Technologies by 15.5% in the 1st quarter. Homestead Advisers Corp now owns 34,200 shares of the semiconductor company's stock valued at $1,699,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Stock Down 2.9%

Shares of ACLS opened at $75.72 on Thursday. The firm's 50-day simple moving average is $69.59 and its 200 day simple moving average is $61.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.08 and a current ratio of 6.01. The firm has a market cap of $2.43 billion, a P/E ratio of 15.48 and a beta of 1.58. Axcelis Technologies, Inc. has a 52 week low of $40.40 and a 52 week high of $117.57.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The semiconductor company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.40. The company had revenue of $194.54 million for the quarter, compared to analyst estimates of $185.15 million. Axcelis Technologies had a return on equity of 16.26% and a net margin of 17.69%. The firm's quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. On average, analysts forecast that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ACLS shares. DA Davidson upped their price objective on Axcelis Technologies from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday. B. Riley increased their price target on Axcelis Technologies from $58.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Axcelis Technologies has a consensus rating of "Hold" and an average target price of $90.00.

Insider Buying and Selling at Axcelis Technologies

In related news, Director John T. Kurtzweil sold 1,682 shares of the company'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 transaction, the director directly owned 35,050 shares in the company, valued at approximately $2,170,646.50. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company's stock.

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.

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