Axcelis Technologies (NASDAQ:ACLS) Reaches New 12-Month Low – Here’s What Happened

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $70.04 and last traded at $70.24, with a volume of 66399 shares changing hands. The stock had previously closed at $72.14.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACLS. B. Riley decreased their price target on shares of Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Benchmark downgraded Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Axcelis Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.33.

Axcelis Technologies Stock Performance

The firm has a 50 day moving average price of $93.69 and a 200-day moving average price of $112.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.29 and a current ratio of 4.45. The company has a market cap of $2.31 billion, a P/E ratio of 10.50, a P/E/G ratio of 2.28 and a beta of 1.60.

Institutional Trading of Axcelis Technologies

Large investors have recently modified their holdings of the company. Boston Trust Walden Corp acquired a new position in Axcelis Technologies during the 3rd quarter worth $53,099,000. Reinhart Partners LLC. boosted its stake in Axcelis Technologies by 64.1% during the 3rd quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company’s stock valued at $72,096,000 after purchasing an additional 268,560 shares during the period. Vanguard Group Inc. increased its position in Axcelis Technologies by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock worth $480,040,000 after buying an additional 263,604 shares during the period. Granite Investment Partners LLC acquired a new position in shares of Axcelis Technologies during the second quarter worth approximately $27,801,000. Finally, Boston Partners bought a new stake in shares of Axcelis Technologies in the first quarter valued at approximately $20,819,000. 89.98% of the stock is 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.