Bridgewater Associates LP Trims Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Bridgewater Associates LP reduced its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 35.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,045 shares of the semiconductor company's stock after selling 10,448 shares during the period. Bridgewater Associates LP owned 0.06% of Axcelis Technologies worth $1,997,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Axcelis Technologies by 348.9% in the second quarter. Signaturefd LLC now owns 211 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 164 shares during the period. Blue Trust Inc. boosted its holdings in Axcelis Technologies by 223.8% in the 2nd quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company's stock worth $39,000 after buying an additional 188 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Axcelis Technologies in the 2nd quarter worth $39,000. Isthmus Partners LLC raised its holdings in Axcelis Technologies by 87.3% during the second quarter. Isthmus Partners LLC now owns 33,270 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 15,507 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Axcelis Technologies in the second quarter worth about $69,000. 89.98% of the stock is currently owned by institutional investors.

Axcelis Technologies Price Performance

NASDAQ ACLS traded up $0.73 during trading on Friday, hitting $74.24. 257,862 shares of the stock traded hands, compared to its average volume of 734,025. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 12-month low of $69.35 and a 12-month high of $158.61. The company has a market capitalization of $2.41 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. The firm has a 50-day simple moving average of $89.45 and a 200-day simple moving average of $109.88.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Axcelis Technologies in a research note on Friday, November 8th. Benchmark cut shares of Axcelis Technologies from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.33.

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.