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

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s share price reached a new 52-week low on Thursday . The stock traded as low as $46.50 and last traded at $46.03, with a volume of 117471 shares. The stock had previously closed at $50.96.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ACLS. William Blair cut shares of Axcelis Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research note on Wednesday, February 12th. Finally, Craig Hallum reduced their target price on Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $154.00.

Axcelis Technologies Stock Down 5.3 %

The company has a market cap of $1.36 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 4.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.05. The firm has a 50-day moving average price of $59.45 and a 200 day moving average price of $74.64.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $1.54 earnings per share 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%. Sell-side analysts predict that Axcelis Technologies, Inc. will post 2.55 EPS for the current year.

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

Institutional Investors Weigh In On Axcelis Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Axcelis Technologies by 3.9% during the 4th quarter. Bank of Montreal Can now owns 4,540 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 170 shares during the period. Signaturefd LLC grew its holdings in shares of Axcelis Technologies by 90.6% during the 4th quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 173 shares in the last quarter. Blue Trust Inc. increased its position in shares of Axcelis Technologies by 85.5% in the fourth quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 289 shares during the period. Kensington Investment Counsel LLC raised its stake in Axcelis Technologies by 14.8% in the third quarter. Kensington Investment Counsel LLC now owns 2,313 shares of the semiconductor company’s stock valued at $243,000 after purchasing an additional 299 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Axcelis Technologies by 118.7% during the first quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 317 shares during the period. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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.