Axcelis Technologies (NASDAQ:ACLS) Hits New 52-Week Low – Here’s Why

Axcelis Technologies, Inc. (NASDAQ:ACLS) hit a new 52-week low during trading on Wednesday . The stock traded as low as $80.72 and last traded at $81.15, with a volume of 103163 shares traded. The stock had previously closed at $82.73.

Wall Street Analysts Forecast Growth

ACLS has been the topic of several research analyst reports. B. Riley lowered their price objective on shares of Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Finally, Benchmark cut Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.33.

Axcelis Technologies Price Performance

The firm has a market capitalization of $2.60 billion, a P/E ratio of 11.76, a PEG ratio of 2.56 and a beta of 1.60. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $96.43 and a 200-day moving average of $113.25.

Hedge Funds Weigh In On Axcelis Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACLS. Signaturefd LLC lifted 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 valued at $30,000 after purchasing an additional 164 shares in the last quarter. Blue Trust Inc. increased its stake in Axcelis Technologies by 223.8% in the 2nd quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 188 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Axcelis Technologies during the 2nd quarter worth about $39,000. Isthmus Partners LLC boosted its stake in shares of Axcelis Technologies by 87.3% during the 2nd quarter. Isthmus Partners LLC now owns 33,270 shares of the semiconductor company’s stock worth $47,000 after buying an additional 15,507 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Axcelis Technologies in the 2nd quarter valued at about $69,000. 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.