Pier Capital LLC Acquires 41,782 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Pier Capital LLC grew its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 101.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,990 shares of the semiconductor company's stock after purchasing an additional 41,782 shares during the quarter. Axcelis Technologies comprises about 1.2% of Pier Capital LLC's portfolio, making the stock its 25th biggest holding. Pier Capital LLC owned about 0.26% of Axcelis Technologies worth $8,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ACLS. Signaturefd LLC increased its holdings in shares of Axcelis Technologies by 348.9% during the 2nd quarter. Signaturefd LLC now owns 211 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 164 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Axcelis Technologies by 223.8% during the 2nd quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 188 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Axcelis Technologies during the 2nd quarter worth approximately $39,000. Meeder Asset Management Inc. acquired a new position in shares of Axcelis Technologies during the 2nd quarter worth approximately $69,000. Finally, Truvestments Capital LLC bought a new stake in Axcelis Technologies in the 3rd quarter valued at $69,000. Institutional investors and hedge funds own 89.98% of the company's stock.

Axcelis Technologies Price Performance

Shares of NASDAQ:ACLS traded up $0.68 during trading on Friday, reaching $74.19. 444,207 shares of the company traded hands, compared to its average volume of 707,009. The company's 50 day moving average is $86.54 and its two-hundred day moving average is $108.52. The firm has a market capitalization of $2.41 billion, a PE ratio of 10.97, a PEG ratio of 2.37 and a beta of 1.53. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 52 week low of $69.35 and a 52 week high of $158.61.

Analysts Set New Price Targets

ACLS has been the subject of several recent research reports. Benchmark downgraded 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 note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Axcelis Technologies has a consensus rating of "Moderate Buy" and an average target price of $167.33.

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.