Western Wealth Management LLC Invests $510,000 in Axcelis Technologies, Inc. (NASDAQ:ACLS)

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

Other large investors also recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in 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 boosted its stake in shares of Axcelis Technologies by 1,153.8% during the 4th quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Axcelis Technologies by 1,415.2% during the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 467 shares in the last quarter. Blue Trust Inc. boosted its position in Axcelis Technologies by 85.5% during 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Axcelis Technologies by 184.3% during 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 in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John T. Kurtzweil sold 1,682 shares of the stock in a transaction that occurred on 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 now directly owns 35,050 shares in the company, valued at approximately $2,170,646.50. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Axcelis Technologies Trading Up 2.3%

Shares of ACLS stock traded up $1.35 on Tuesday, hitting $59.67. 420,973 shares of the stock traded hands, compared to its average volume of 649,789. Axcelis Technologies, Inc. has a twelve month low of $40.40 and a twelve month high of $158.61. The stock has a market capitalization of $1.92 billion, a PE ratio of 9.70, a PEG ratio of 4.52 and a beta of 1.52. The firm's 50-day moving average price is $52.14 and its two-hundred day moving average price is $62.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.05 and a current ratio of 5.41.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.65. The company had revenue of $192.56 million for 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 EPS. As a group, analysts anticipate that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Axcelis Technologies declared that its board has approved a stock repurchase program on Wednesday, March 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.