Axcelis Technologies, Inc. (NASDAQ:ACLS) Stake Raised by Millennium Management LLC

Millennium Management LLC lifted its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 148.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,270 shares of the semiconductor company's stock after buying an additional 173,574 shares during the quarter. Millennium Management LLC owned approximately 0.89% of Axcelis Technologies worth $20,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ACLS. Signaturefd LLC boosted its holdings in Axcelis Technologies by 90.6% in the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 173 shares during the period. Avior Wealth Management LLC boosted its holdings in Axcelis Technologies by 1,153.8% in the fourth quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 450 shares during the period. Capital Advisors Ltd. LLC boosted its holdings 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 purchasing an additional 467 shares during the period. Blue Trust Inc. boosted its holdings in Axcelis Technologies by 85.5% in the fourth quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 289 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Axcelis Technologies by 184.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 433 shares during the period. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Price Performance

ACLS stock traded down $0.73 during trading on Monday, hitting $58.32. The company had a trading volume of 326,436 shares, compared to its average volume of 650,708. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 4.52 and a beta of 1.52. The business has a 50 day moving average of $52.14 and a 200 day moving average of $62.88. Axcelis Technologies, Inc. has a fifty-two week low of $40.40 and a fifty-two week high of $158.61. The company has a current ratio of 5.41, a quick ratio of 4.05 and a debt-to-equity ratio of 0.04.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share 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 net margin of 19.75% and a return on equity of 21.02%. The company's quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 earnings per share. As a group, research analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Axcelis Technologies announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Axcelis Technologies 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 sale, the director now directly owns 35,050 shares in the company, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

ACLS has been the subject of a number of research reports. William Blair downgraded shares of Axcelis Technologies from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. B. Riley reissued a "neutral" rating and set a $50.00 price target (down previously from $80.00) on shares of Axcelis Technologies in a report on Monday, April 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $131.00.

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.