Axcelis Technologies (NASDAQ:ACLS) Sets New 52-Week Low - Here's What Happened

Axcelis Technologies, Inc. (NASDAQ:ACLS - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $70.04 and last traded at $70.24, with a volume of 66399 shares traded. The stock had previously closed at $72.14.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ACLS. Benchmark cut Axcelis Technologies from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Finally, B. Riley decreased their target price on Axcelis Technologies from $190.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $167.33.

Axcelis Technologies Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.45 and a quick ratio of 3.29. The company has a fifty day moving average of $94.24 and a 200-day moving average of $112.31. The firm has a market capitalization of $2.28 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 2.28 and a beta of 1.60.

Hedge Funds Weigh In On Axcelis Technologies

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in Axcelis Technologies by 40.0% during the third quarter. Van ECK Associates Corp now owns 23,751 shares of the semiconductor company's stock valued at $2,490,000 after buying an additional 6,786 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Axcelis Technologies by 309.0% during the second quarter. Harbor Capital Advisors Inc. now owns 17,549 shares of the semiconductor company's stock valued at $2,495,000 after buying an additional 13,258 shares in the last quarter. Royce & Associates LP raised its holdings in Axcelis Technologies by 157.1% during the third quarter. Royce & Associates LP now owns 273,671 shares of the semiconductor company's stock valued at $28,694,000 after buying an additional 167,235 shares in the last quarter. Annex Advisory Services LLC raised its holdings in Axcelis Technologies by 72.0% during the third quarter. Annex Advisory Services LLC now owns 12,226 shares of the semiconductor company's stock valued at $1,282,000 after buying an additional 5,118 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in Axcelis Technologies by 281.5% during the first quarter. Virtu Financial LLC now owns 12,467 shares of the semiconductor company's stock valued at $1,390,000 after buying an additional 9,199 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors.

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.