KLP Kapitalforvaltning AS Acquires New Holdings in Axcelis Technologies, Inc. (NASDAQ:ACLS)

KLP Kapitalforvaltning AS bought a new position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,500 shares of the semiconductor company's stock, valued at approximately $454,000.

Several other large investors have also modified their holdings of ACLS. FMR LLC raised its holdings in shares of Axcelis Technologies by 51.4% in the 3rd quarter. FMR LLC now owns 263,332 shares of the semiconductor company's stock valued at $27,610,000 after purchasing an additional 89,453 shares in the last quarter. Reinhart Partners LLC. raised its stake in Axcelis Technologies by 50.7% in the fourth quarter. Reinhart Partners LLC. now owns 1,036,112 shares of the semiconductor company's stock valued at $72,393,000 after buying an additional 348,504 shares in the last quarter. Pier Capital LLC lifted its holdings in Axcelis Technologies by 101.4% during the 3rd quarter. Pier Capital LLC now owns 82,990 shares of the semiconductor company's stock worth $8,702,000 after buying an additional 41,782 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Axcelis Technologies in the 3rd quarter valued at about $13,874,000. Finally, State Street Corp raised its position in shares of Axcelis Technologies by 1.5% during the 3rd quarter. State Street Corp now owns 1,233,282 shares of the semiconductor company's stock worth $129,310,000 after acquiring an additional 18,101 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Stock Performance

Shares of NASDAQ:ACLS traded up $6.22 during midday trading on Wednesday, hitting $48.90. The stock had a trading volume of 1,236,715 shares, compared to its average volume of 634,703. Axcelis Technologies, Inc. has a 1 year low of $40.40 and a 1 year high of $158.61. The company has a current ratio of 5.41, a quick ratio of 4.05 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $57.12 and a two-hundred day moving average price of $72.72. The company has a market capitalization of $1.57 billion, a PE ratio of 7.95, a P/E/G ratio of 4.52 and a beta of 1.59.

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Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 21.02% and a net margin of 19.75%. As a group, equities analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

Axcelis Technologies declared that its board has authorized a share buyback program on Wednesday, March 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ACLS has been the topic of a number of recent analyst reports. William Blair downgraded shares of Axcelis Technologies from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 12th. Craig Hallum dropped their price objective on Axcelis Technologies from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $154.00.

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.