PNC Financial Services Group Inc. Has $135,000 Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

PNC Financial Services Group Inc. lowered its position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 49.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,933 shares of the semiconductor company’s stock after selling 1,904 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Axcelis Technologies were worth $135,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ACLS. Advisors Asset Management Inc. grew its position in Axcelis Technologies by 27.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,293 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 280 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Axcelis Technologies by 85.5% during the fourth quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 289 shares in the last quarter. Kensington Investment Counsel LLC grew its holdings in shares of Axcelis Technologies by 14.8% during the third quarter. Kensington Investment Counsel LLC now owns 2,313 shares of the semiconductor company’s stock valued at $243,000 after buying an additional 299 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Axcelis Technologies by 184.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 433 shares during the period. Finally, KBC Group NV lifted its stake in Axcelis Technologies by 46.8% in the 4th quarter. KBC Group NV now owns 1,371 shares of the semiconductor company’s stock worth $96,000 after acquiring an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Trading Up 3.0 %

Shares of NASDAQ ACLS opened at $57.55 on Tuesday. The business has a 50 day simple moving average of $63.19 and a 200 day simple moving average of $77.39. Axcelis Technologies, Inc. has a 52 week low of $53.67 and a 52 week high of $158.61. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 4.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.05 and a current ratio of 5.41.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Monday, February 10th. The semiconductor company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.25 by $0.29. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. On average, research analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

Axcelis Technologies declared that its board has authorized a stock buyback plan on Wednesday, March 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ACLS shares. William Blair downgraded Axcelis Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Craig Hallum dropped their price objective on shares of Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Wednesday, February 12th. Four 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.com, the stock has a consensus rating of “Hold” and an average target price of $154.00.

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.