Axcelis Technologies (NASDAQ:ACLS) Given “Neutral” Rating at B. Riley

B. Riley restated their neutral rating on shares of Axcelis Technologies (NASDAQ:ACLS) in a report issued on Monday morning, Marketbeat Ratings reports. B. Riley currently has a $50.00 target price on the semiconductor company’s stock, down from their prior target price of $80.00.

A number of other research firms have also weighed in on ACLS. William Blair lowered shares of Axcelis Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Wednesday, February 12th. Finally, Craig Hallum decreased their target price on Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Axcelis Technologies presently has an average rating of “Hold” and an average price target of $131.00.

Axcelis Technologies Price Performance

ACLS stock opened at $45.23 on Monday. The firm’s fifty day moving average is $54.14 and its 200 day moving average is $69.30. Axcelis Technologies has a 52 week low of $40.40 and a 52 week high of $158.61. The firm has a market cap of $1.46 billion, a P/E ratio of 7.35, a P/E/G ratio of 4.52 and a beta of 1.59. 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 quarterly earnings results on Monday, February 10th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.29. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. Research analysts predict that Axcelis Technologies will post 2.55 earnings per share for the current year.

Axcelis Technologies announced that its Board of Directors has authorized a share buyback program on Wednesday, March 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Axcelis Technologies

Several large investors have recently made changes to their positions in ACLS. Pacer Advisors Inc. increased its position in Axcelis Technologies by 78,037.4% during the 4th quarter. Pacer Advisors Inc. now owns 782,155 shares of the semiconductor company’s stock valued at $54,649,000 after buying an additional 781,154 shares in the last quarter. Norges Bank purchased a new stake in shares of Axcelis Technologies in the fourth quarter worth $36,050,000. Reinhart Partners LLC. increased its holdings in shares of Axcelis Technologies by 39.1% during the first quarter. Reinhart Partners LLC. now owns 1,441,022 shares of the semiconductor company’s stock valued at $71,576,000 after acquiring an additional 404,910 shares in the last quarter. Boston Trust Walden Corp raised its position in shares of Axcelis Technologies by 61.9% in the 4th quarter. Boston Trust Walden Corp now owns 820,116 shares of the semiconductor company’s stock worth $57,302,000 after purchasing an additional 313,689 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Axcelis Technologies by 37.8% in the 4th quarter. American Century Companies Inc. now owns 1,060,096 shares of the semiconductor company’s stock worth $74,069,000 after purchasing an additional 290,678 shares in the last quarter. 89.98% of the stock is currently owned by hedge funds and other 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.