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

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $58.60 and last traded at $61.61, with a volume of 452447 shares traded. The stock had previously closed at $67.58.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACLS. Benchmark downgraded Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Finally, Craig Hallum cut their price target on shares of Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Axcelis Technologies Price Performance

The company has a market capitalization of $1.97 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 2.39 and a beta of 1.52. 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 firm’s 50-day moving average is $71.47 and its 200-day moving average is $88.83.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.25 by $0.29. Axcelis Technologies had a return on equity of 24.16% and a net margin of 20.65%. Equities analysts predict that Axcelis Technologies, Inc. will post 5.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axcelis Technologies

A number of hedge funds have recently made changes to their positions in the business. Boston Partners raised its position in Axcelis Technologies by 34.4% in the 4th quarter. Boston Partners now owns 330,073 shares of the semiconductor company’s stock worth $23,095,000 after purchasing an additional 84,481 shares during the period. Intech Investment Management LLC increased its holdings in shares of Axcelis Technologies by 121.5% in the fourth quarter. Intech Investment Management LLC now owns 24,577 shares of the semiconductor company’s stock worth $1,717,000 after buying an additional 13,483 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Axcelis Technologies by 1.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 28,623 shares of the semiconductor company’s stock valued at $2,054,000 after acquiring an additional 383 shares during the last quarter. Signaturefd LLC boosted its holdings in Axcelis Technologies by 90.6% during the 4th quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 173 shares during the period. Finally, Cibc World Markets Corp bought a new position in Axcelis Technologies during the 4th quarter worth approximately $213,000. 89.98% of the stock is currently owned by institutional investors.

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.