Axcelis Technologies, Inc. (NASDAQ:ACLS) Shares Purchased by Jackson Square Partners LLC

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 grew its position in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 12.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,344 shares of the semiconductor company's stock after acquiring an additional 23,754 shares during the quarter. Jackson Square Partners LLC owned 0.65% of Axcelis Technologies worth $10,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of Montreal Can increased its position in Axcelis Technologies by 3.9% during the fourth quarter. Bank of Montreal Can now owns 4,540 shares of the semiconductor company's stock worth $317,000 after buying an additional 170 shares during the last quarter. Perkins Coie Trust Co grew its position in shares of Axcelis Technologies by 9.2% in the first quarter. Perkins Coie Trust Co now owns 2,675 shares of the semiconductor company's stock valued at $133,000 after purchasing an additional 225 shares during the last quarter. Eagle Bay Advisors LLC grew its position in shares of Axcelis Technologies by 3.8% in the first quarter. Eagle Bay Advisors LLC now owns 7,585 shares of the semiconductor company's stock valued at $377,000 after purchasing an additional 275 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Axcelis Technologies by 118.7% in the first quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 317 shares during the last quarter. Finally, Fifth Third Bancorp grew its position 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 last quarter. Institutional investors own 89.98% of the company's stock.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. B. Riley lifted their price target on shares of Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. DA Davidson upped their price objective on shares of Axcelis Technologies from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $90.00.

Axcelis Technologies Stock Down 1.2%

Axcelis Technologies stock traded down $0.99 during midday trading on Monday, reaching $78.44. The stock had a trading volume of 147,077 shares, compared to its average volume of 637,842. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.26 and a current ratio of 6.01. The firm's fifty day simple moving average is $70.49 and its 200-day simple moving average is $61.42. The stock has a market capitalization of $2.46 billion, a P/E ratio of 16.06 and a beta of 1.58. Axcelis Technologies, Inc. has a 1-year low of $40.40 and a 1-year high of $117.57.

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

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.