New Insight Wealth Advisors Makes New $1.58 Million Investment in Axcelis Technologies, Inc. (NASDAQ:ACLS)

New Insight Wealth Advisors acquired a new position in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,847 shares of the semiconductor company's stock, valued at approximately $1,582,000. Axcelis Technologies makes up 0.7% of New Insight Wealth Advisors' portfolio, making the stock its 29th largest position. New Insight Wealth Advisors owned about 0.10% of Axcelis Technologies at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ACLS. Smartleaf Asset Management LLC lifted its stake in Axcelis Technologies by 184.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 433 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Axcelis Technologies by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,936 shares of the semiconductor company's stock worth $25,847,000 after acquiring an additional 22,913 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Axcelis Technologies in the 4th quarter worth about $397,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Axcelis Technologies by 8.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,503 shares of the semiconductor company's stock worth $501,000 after acquiring an additional 517 shares in the last quarter. Finally, Amundi lifted its stake in Axcelis Technologies by 15.1% in the 4th quarter. Amundi now owns 489,251 shares of the semiconductor company's stock worth $35,764,000 after acquiring an additional 64,256 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, B. Riley increased their price objective on Axcelis Technologies from $58.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Axcelis Technologies currently has a consensus rating of "Hold" and a consensus price target of $136.00.

Axcelis Technologies Stock Performance

Shares of ACLS stock opened at $74.21 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.56 and a quick ratio of 4.08. Axcelis Technologies, Inc. has a fifty-two week low of $40.40 and a fifty-two week high of $158.61. The stock's 50-day moving average is $63.28 and its two-hundred day moving average is $61.11. The firm has a market cap of $2.38 billion, a P/E ratio of 13.59, a PEG ratio of 4.76 and a beta of 1.57.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last issued its earnings results 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. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. The company had revenue of $192.56 million for the quarter, compared to analyst estimates of $184.86 million. During the same period in the prior year, the firm posted $1.57 EPS. The business's revenue was down 23.7% compared to the same quarter last year. Analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

Axcelis Technologies announced that its board has initiated a share buyback plan on Wednesday, March 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,682 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total transaction of $104,166.26. Following the transaction, the director owned 35,050 shares of the company's stock, valued at approximately $2,170,646.50. This represents a 4.58% decrease in their position. The sale 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.

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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