Meeder Asset Management Inc. Takes $69,000 Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Meeder Asset Management Inc. acquired a new stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 483 shares of the semiconductor company’s stock, valued at approximately $69,000.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Axcelis Technologies by 348.9% during the second quarter. Signaturefd LLC now owns 211 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 164 shares during the period. GAMMA Investing LLC raised its stake in shares of Axcelis Technologies by 109.4% during the first quarter. GAMMA Investing LLC now owns 266 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 139 shares during the period. Blue Trust Inc. raised its stake in shares of Axcelis Technologies by 223.8% during the second quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 188 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Axcelis Technologies in the second quarter worth $39,000. Finally, Assetmark Inc. increased its stake in shares of Axcelis Technologies by 690.0% in the fourth quarter. Assetmark Inc. now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Craig Hallum lifted their price target on shares of Axcelis Technologies from $130.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. B. Riley dropped their price target 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. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research note on Friday, August 2nd. Bank of America lifted their price target on shares of Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Benchmark decreased their price objective 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.33.

Insider Activity

In other news, Director Jorge Titinger sold 6,086 shares of the business’s stock in a transaction 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 transaction, the director now owns 5,891 shares of the company’s stock, valued at $647,892.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Axcelis Technologies Stock Performance

Axcelis Technologies stock opened at $103.27 on Friday. Axcelis Technologies, Inc. has a 12 month low of $93.77 and a 12 month high of $181.45. The company has a market cap of $3.37 billion, a PE ratio of 13.64, a P/E/G ratio of 3.06 and a beta of 1.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.42 and a quick ratio of 3.26. The company has a fifty day moving average price of $118.02 and a two-hundred day moving average price of $116.76.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly 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 net margin of 21.54% and a return on equity of 27.35%. The company had revenue of $256.51 million during the quarter, compared to the consensus estimate of $250.06 million. During the same quarter in the previous year, the company posted $1.86 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts expect that Axcelis Technologies, Inc. will post 6.05 earnings per share for the current year.

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.