Axcelis Technologies (NASDAQ:ACLS) Sets New 1-Year Low - Here's What Happened

Axcelis Technologies, Inc. (NASDAQ:ACLS - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $90.06 and last traded at $90.06, with a volume of 1324 shares trading hands. The stock had previously closed at $90.40.

Wall Street Analysts Forecast Growth

ACLS has been the subject of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Axcelis Technologies in a research note on Friday, August 2nd. Benchmark reduced their target price on shares of Axcelis Technologies from $180.00 to $175.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Bank of America raised their price target on shares of Axcelis Technologies from $125.00 to $150.00 and gave the company a "neutral" rating in a report on Wednesday, July 10th. B. Riley reduced their price objective on shares of Axcelis Technologies from $190.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. Finally, DA Davidson raised their target price on shares of Axcelis Technologies from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $167.33.

Axcelis Technologies Stock Performance

The firm's 50-day simple moving average is $102.81 and its two-hundred day simple moving average is $114.47. The company has a market cap of $2.93 billion, a PE ratio of 11.89, a P/E/G ratio of 3.02 and a beta of 1.58. The company has a current ratio of 4.42, a quick ratio of 3.26 and a debt-to-equity ratio of 0.05.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.18. Axcelis Technologies had a return on equity of 27.35% and a net margin of 21.54%. The firm had revenue of $256.51 million for the quarter, compared to the consensus estimate of $250.06 million. During the same period in the prior year, the firm earned $1.86 EPS. The firm's revenue was down 6.4% on a year-over-year basis. As a group, research analysts anticipate that Axcelis Technologies, Inc. will post 6.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axcelis Technologies news, Director Jorge Titinger sold 6,086 shares of Axcelis Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $109.98, for a total transaction of $669,338.28. Following the completion of the sale, the director now directly owns 5,891 shares in the company, valued at approximately $647,892.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.43% of the stock is owned by corporate insiders.

Institutional Trading of Axcelis Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Axcelis Technologies by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company's stock worth $480,040,000 after purchasing an additional 263,604 shares during the period. Reinhart Partners LLC. raised its position in shares of Axcelis Technologies by 64.1% in the third quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company's stock worth $72,096,000 after acquiring an additional 268,560 shares during the period. Jackson Square Partners LLC boosted its stake in shares of Axcelis Technologies by 49.0% during the 1st quarter. Jackson Square Partners LLC now owns 492,764 shares of the semiconductor company's stock worth $54,953,000 after acquiring an additional 162,040 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Axcelis Technologies by 7.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 455,846 shares of the semiconductor company's stock valued at $64,816,000 after acquiring an additional 32,695 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Axcelis Technologies by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 385,181 shares of the semiconductor company's stock valued at $54,769,000 after purchasing an additional 38,827 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

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.