Geode Capital Management LLC Grows Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Geode Capital Management LLC increased its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 897,750 shares of the semiconductor company's stock after acquiring an additional 23,234 shares during the period. Geode Capital Management LLC owned about 2.76% of Axcelis Technologies worth $62,738,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Axcelis Technologies by 90.6% during the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company's stock worth $25,000 after buying an additional 173 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Axcelis Technologies by 1,153.8% in the 4th quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 450 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Axcelis Technologies by 1,415.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 467 shares during the last quarter. Blue Trust Inc. grew its holdings in Axcelis Technologies by 85.5% during the fourth quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 289 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Axcelis Technologies by 184.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company's stock worth $47,000 after buying an additional 433 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Axcelis Technologies Trading Up 0.4 %

NASDAQ ACLS traded up $0.16 on Friday, hitting $44.78. The company's stock had a trading volume of 448,938 shares, compared to its average volume of 637,032. The company has a quick ratio of 4.05, a current ratio of 5.41 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 1-year low of $40.40 and a 1-year high of $158.61. The firm has a market cap of $1.44 billion, a PE ratio of 7.28, a PEG ratio of 4.52 and a beta of 1.59. The company's 50-day moving average is $54.73 and its 200 day moving average is $70.50.

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

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

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.