Axcelis Technologies (NASDAQ:ACLS) Sets New 1-Year Low - Here's Why

Axcelis Technologies, Inc. (NASDAQ:ACLS - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $52.70 and last traded at $53.21, with a volume of 27410 shares traded. The stock had previously closed at $53.78.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Craig Hallum reduced their price objective on shares of Axcelis Technologies from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Finally, William Blair downgraded shares of Axcelis Technologies from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $154.00.

Axcelis Technologies Stock Up 3.2 %

The business's 50 day simple moving average is $61.36 and its 200-day simple moving average is $75.78. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.05 and a current ratio of 5.41. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 4.52 and a beta of 1.62.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last issued its earnings results on Monday, February 10th. The semiconductor company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.29. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. Sell-side analysts expect that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

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Axcelis Technologies declared that its board has initiated a share repurchase plan on Wednesday, March 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in Axcelis Technologies by 51.4% during the third quarter. FMR LLC now owns 263,332 shares of the semiconductor company's stock worth $27,610,000 after buying an additional 89,453 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Axcelis Technologies by 16.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,538 shares of the semiconductor company's stock worth $581,000 after purchasing an additional 790 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Axcelis Technologies during the third quarter valued at approximately $2,193,000. Holocene Advisors LP raised its stake in shares of Axcelis Technologies by 17.8% in the third quarter. Holocene Advisors LP now owns 41,544 shares of the semiconductor company's stock valued at $4,356,000 after purchasing an additional 6,285 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Axcelis Technologies by 23.5% in the third quarter. HighTower Advisors LLC now owns 3,666 shares of the semiconductor company's stock worth $382,000 after purchasing an additional 697 shares during the period. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Company 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.