Western Wealth Management LLC Takes Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Western Wealth Management LLC purchased a new stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,300 shares of the semiconductor company's stock, valued at approximately $510,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in shares of Axcelis Technologies by 90.6% during the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock worth $25,000 after buying an additional 173 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of 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 raised its stake 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 valued at $35,000 after purchasing an additional 467 shares in the last quarter. Blue Trust Inc. increased its holdings in Axcelis Technologies by 85.5% in the 4th quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company's stock valued at $44,000 after buying an additional 289 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Axcelis Technologies by 184.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company's stock valued at $47,000 after buying an additional 433 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,682 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $61.93, for a total transaction of $104,166.26. Following the sale, the director now owns 35,050 shares in the company, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Axcelis Technologies Stock Performance

NASDAQ:ACLS traded up $0.55 on Thursday, reaching $58.10. 106,408 shares of the company's stock were exchanged, compared to its average volume of 647,877. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 4.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.05. The stock has a fifty day simple moving average of $52.23 and a 200-day simple moving average of $62.82. Axcelis Technologies, Inc. has a 52 week low of $40.40 and a 52 week high of $158.61.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.65. The company had revenue of $192.56 million during the quarter, compared to analyst estimates of $184.86 million. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. Axcelis Technologies's revenue was down 23.7% compared to the same quarter last year. During the same period last year, the business earned $1.57 earnings per share. As a group, sell-side analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Axcelis Technologies declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACLS. Needham & Company LLC reiterated a "hold" rating on shares of Axcelis Technologies in a research report on Wednesday, February 12th. B. Riley reissued a "neutral" rating and issued a $50.00 price objective (down previously from $80.00) on shares of Axcelis Technologies in a research note on Monday, April 21st. Finally, William Blair downgraded shares of Axcelis Technologies from an "outperform" rating to a "market perform" rating 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $131.00.

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.