Connor Clark & Lunn Investment Management Ltd. Sells 55,441 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 43.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,021 shares of the semiconductor company's stock after selling 55,441 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of Axcelis Technologies worth $7,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ACLS. Signaturefd LLC boosted its position in Axcelis Technologies by 348.9% in the 2nd quarter. Signaturefd LLC now owns 211 shares of the semiconductor company's stock valued at $30,000 after buying an additional 164 shares during the last quarter. Blue Trust Inc. boosted its holdings in Axcelis Technologies by 223.8% in the second quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 188 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Axcelis Technologies in the second quarter worth about $39,000. Meeder Asset Management Inc. bought a new stake in Axcelis Technologies during the 2nd quarter worth about $69,000. Finally, Advisors Asset Management Inc. lifted its position in Axcelis Technologies by 17.5% during the 1st quarter. Advisors Asset Management Inc. now owns 670 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Trading Up 2.4 %

Shares of ACLS traded up $1.79 during trading hours on Friday, reaching $75.07. The stock had a trading volume of 546,839 shares, compared to its average volume of 755,805. The company has a market cap of $2.44 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.28 and a beta of 1.60. Axcelis Technologies, Inc. has a 52 week low of $69.35 and a 52 week high of $158.61. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $91.99 and a 200 day moving average of $111.20.

Wall Street Analyst Weigh In

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

Axcelis Technologies 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.