Axcelis Technologies (NASDAQ:ACLS) Shares Gap Down to $103.27

Axcelis Technologies, Inc. (NASDAQ:ACLS) gapped down before the market opened on Monday . The stock had previously closed at $103.27, but opened at $100.83. Axcelis Technologies shares last traded at $97.22, with a volume of 90,624 shares changing hands.

Analyst Upgrades and Downgrades

ACLS has been the subject of a number of analyst reports. Benchmark lowered their price target 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. Craig Hallum raised their price objective on Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, July 12th. B. Riley cut their target price on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research report on Friday, August 2nd. Finally, DA Davidson boosted their price objective on shares of Axcelis Technologies from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Axcelis Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $167.33.

Axcelis Technologies Stock Performance

The firm has a fifty day moving average price of $116.09 and a two-hundred day moving average price of $116.59. 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 stock has a market capitalization of $3.26 billion, a PE ratio of 13.18, a P/E/G ratio of 3.06 and a beta of 1.58.

Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.18. The business had revenue of $256.51 million during the quarter, compared to the consensus estimate of $250.06 million. Axcelis Technologies had a return on equity of 27.35% and a net margin of 21.54%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.86 earnings per share. Research analysts expect that Axcelis Technologies, Inc. will post 6.05 EPS for the current year.

Insider Buying and Selling at Axcelis Technologies

In other news, Director Jorge Titinger sold 6,086 shares of the firm’s 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 transaction, the director now directly 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. 1.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Axcelis Technologies in the fourth quarter valued at about $57,105,000. Reinhart Partners LLC. purchased a new position in Axcelis Technologies during the 1st quarter valued at about $37,871,000. Vanguard Group Inc. raised its holdings in shares of Axcelis Technologies by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock valued at $480,040,000 after purchasing an additional 263,604 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Axcelis Technologies in the 2nd quarter worth approximately $27,801,000. Finally, Boston Partners bought a new position in shares of Axcelis Technologies during the first quarter valued at approximately $20,819,000. Institutional investors own 89.98% of the company’s stock.

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.