Principal Financial Group Inc. Trims Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Principal Financial Group Inc. lessened its position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS - Free Report) by 14.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 181,083 shares of the semiconductor company's stock after selling 30,476 shares during the quarter. Principal Financial Group Inc. owned 0.56% of Axcelis Technologies worth $18,987,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Axcelis Technologies during the 1st quarter worth approximately $791,000. Sei Investments Co. lifted its position in shares of Axcelis Technologies by 42.3% in the first quarter. Sei Investments Co. now owns 144,752 shares of the semiconductor company's stock valued at $16,143,000 after acquiring an additional 43,020 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Axcelis Technologies by 19.1% in the first quarter. ProShare Advisors LLC now owns 11,597 shares of the semiconductor company's stock worth $1,293,000 after acquiring an additional 1,861 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Axcelis Technologies by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,740 shares of the semiconductor company's stock valued at $1,198,000 after purchasing an additional 1,430 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Axcelis Technologies by 239.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,434 shares of the semiconductor company's stock worth $5,178,000 after purchasing an additional 32,753 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ACLS. Benchmark cut Axcelis Technologies from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. B. Riley lowered their price target on Axcelis Technologies from $190.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Axcelis Technologies 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $167.33.

Axcelis Technologies Stock Performance

Shares of NASDAQ:ACLS traded down $5.63 on Friday, hitting $73.22. 1,003,594 shares of the company were exchanged, compared to its average volume of 634,544. The firm has a market capitalization of $2.38 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 2.46 and a beta of 1.60. The company has a current ratio of 4.45, a quick ratio of 3.29 and a debt-to-equity ratio of 0.04. The stock's 50 day moving average price is $95.22 and its 200 day moving average price is $112.64. Axcelis Technologies, Inc. has a 1-year low of $73.15 and a 1-year high of $158.61.

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.