KLP Kapitalforvaltning AS Raises Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

KLP Kapitalforvaltning AS increased its position in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 70.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,100 shares of the semiconductor company's stock after acquiring an additional 4,600 shares during the period. KLP Kapitalforvaltning AS's holdings in Axcelis Technologies were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ACLS. Fifth Third Bancorp grew its position in shares of Axcelis Technologies by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 358 shares during the period. Versant Capital Management Inc grew its position in shares of Axcelis Technologies by 118.7% during the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 317 shares during the period. Quarry LP grew its position in shares of Axcelis Technologies by 1,387.5% during the 4th quarter. Quarry LP now owns 714 shares of the semiconductor company's stock valued at $50,000 after acquiring an additional 666 shares during the period. Nisa Investment Advisors LLC boosted its holdings 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 buying an additional 393 shares during the period. Finally, Sound Income Strategies LLC bought a new position in Axcelis Technologies in the 1st quarter worth $44,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the firm's stock in a transaction that occurred on 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 sale, the director directly owned 35,050 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Axcelis Technologies Trading Up 1.6%

Axcelis Technologies stock traded up $1.06 during midday trading on Friday, reaching $68.75. The stock had a trading volume of 545,422 shares, compared to its average volume of 415,513. The company has a quick ratio of 4.08, a current ratio of 5.56 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 52-week low of $40.40 and a 52-week high of $117.57. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 12.59 and a beta of 1.58. The company has a fifty day moving average of $68.61 and a 200 day moving average of $61.30.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.65. Axcelis Technologies had a net margin of 18.58% and a return on equity of 18.55%. The business had revenue of $192.56 million for the quarter, compared to the consensus estimate of $184.86 million. During the same period in the prior year, the firm earned $1.57 EPS. The company's revenue for the quarter was down 23.7% compared to the same quarter last year. On average, analysts anticipate that Axcelis Technologies, Inc. will post 2.55 earnings per share 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.