Citigroup Inc. Sells 126,540 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Citigroup Inc. cut its stake in Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 58.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,727 shares of the semiconductor company's stock after selling 126,540 shares during the quarter. Citigroup Inc. owned 0.27% of Axcelis Technologies worth $9,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Boston Trust Walden Corp bought a new stake in shares of Axcelis Technologies during the 3rd quarter valued at about $53,099,000. Reinhart Partners LLC. grew its position in Axcelis Technologies by 64.1% during the third quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company's stock valued at $72,096,000 after buying an additional 268,560 shares during the period. Granite Investment Partners LLC purchased a new stake in Axcelis Technologies during the second quarter valued at approximately $27,801,000. Boston Partners bought a new position in Axcelis Technologies in the first quarter worth approximately $20,819,000. Finally, Royce & Associates LP boosted its stake in shares of Axcelis Technologies by 157.1% during the 3rd quarter. Royce & Associates LP now owns 273,671 shares of the semiconductor company's stock worth $28,694,000 after acquiring an additional 167,235 shares during the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

Axcelis Technologies Price Performance

Shares of Axcelis Technologies stock traded up $0.73 during trading hours on Friday, hitting $74.24. The company's stock had a trading volume of 257,862 shares, compared to its average volume of 636,994. The company has a market cap of $2.41 billion, a PE ratio of 10.98, a PEG ratio of 2.29 and a beta of 1.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.29 and a current ratio of 4.45. The business has a 50 day moving average price of $89.45 and a two-hundred day moving average price of $109.89. Axcelis Technologies, Inc. has a 12-month low of $69.35 and a 12-month high of $158.61.

Analysts Set New Price Targets

Several research firms have recently commented on ACLS. Benchmark lowered Axcelis Technologies from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Needham & Company LLC restated a "hold" rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Finally, B. Riley lowered their price objective on Axcelis Technologies from $190.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Axcelis Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $167.33.

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.