LPL Financial LLC Cuts Stock Position in Axcelis Technologies, Inc. $ACLS

Key Points

• LPL Financial LLC reduced its stake in Axcelis Technologies by 7.2%, resulting in ownership of 56,435 shares valued at $2.8 million.
• Other institutional investors have also shifted their holdings, with significant increases from firms such as Versant Capital Management and Fifth Third Bancorp.
• Axcelis Technologies reported a better-than-expected EPS of $1.13 for the last quarter, surpassing estimates, despite a year-over-year revenue decline of 24.2%.

LPL Financial LLC cut its holdings in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 7.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,435 shares of the semiconductor company's stock after selling 4,399 shares during the quarter. LPL Financial LLC owned 0.18% of Axcelis Technologies worth $2,803,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ACLS. Versant Capital Management Inc lifted its position in Axcelis Technologies by 118.7% in 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 in the last quarter. Fifth Third Bancorp lifted its position in Axcelis Technologies by 160.5% in 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 in the last quarter. Nisa Investment Advisors LLC lifted its position in Axcelis Technologies by 97.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 796 shares of the semiconductor company's stock valued at $40,000 after acquiring an additional 393 shares in the last quarter. Sound Income Strategies LLC bought a new position in Axcelis Technologies in the 1st quarter valued at approximately $44,000. Finally, Quarry LP lifted its holdings 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 buying an additional 666 shares during the period. 89.98% of the stock is owned by institutional investors.

Axcelis Technologies Price Performance

Shares of Axcelis Technologies stock opened at $80.51 on Monday. Axcelis Technologies, Inc. has a one year low of $40.40 and a one year high of $117.32. The stock's fifty day moving average is $72.64 and its 200 day moving average is $61.85. The stock has a market cap of $2.53 billion, a P/E ratio of 16.46 and a beta of 1.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.26 and a current ratio of 6.01.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.40. The business had revenue of $194.54 million during 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%. Axcelis Technologies's revenue for the quarter was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 EPS. Sell-side analysts anticipate that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACLS shares. B. Riley increased their price target on Axcelis Technologies from $58.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. DA Davidson raised their target price on Axcelis Technologies from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $90.00.

Insider Buying and Selling

In related news, Director John T. Kurtzweil sold 1,682 shares of Axcelis Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the transaction, the director owned 35,050 shares in the company, valued at approximately $2,170,646.50. This trade 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 hyperlink. Corporate 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.

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