Corebridge Financial Inc. Trims Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Corebridge Financial Inc. decreased its position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 7.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,344 shares of the semiconductor company’s stock after selling 1,358 shares during the period. Corebridge Financial Inc.’s holdings in Axcelis Technologies were worth $1,212,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of Axcelis Technologies by 90.6% in the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 173 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Axcelis Technologies by 1,153.8% in the 4th quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Axcelis Technologies by 1,415.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 467 shares during the period. Blue Trust Inc. grew its holdings in Axcelis Technologies by 85.5% during the 4th 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. Finally, Smartleaf Asset Management LLC raised its position in shares of 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 last quarter. Institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Trading Down 5.3 %

ACLS opened at $42.42 on Friday. The stock has a 50-day moving average of $59.45 and a 200 day moving average of $74.64. The company has a current ratio of 5.41, a quick ratio of 4.05 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 12 month low of $40.40 and a 12 month high of $158.61. The firm has a market cap of $1.36 billion, a P/E ratio of 6.90, a P/E/G ratio of 4.52 and a beta of 1.62.

Axcelis Technologies (NASDAQ:ACLS) last announced its earnings results on Monday, February 10th. The semiconductor company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.29. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. As a group, research analysts forecast that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

Axcelis Technologies announced that its board has initiated a stock buyback program on Wednesday, March 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

ACLS has been the subject of several research analyst reports. Craig Hallum cut their target price on shares of Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. William Blair lowered Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Axcelis Technologies has a consensus rating of “Hold” and a consensus target price of $154.00.

Axcelis Technologies Company Profile

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.