Axcelis Technologies (NASDAQ:ACLS) Reaches New 1-Year Low – Should You Sell?

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $90.06 and last traded at $90.06, with a volume of 1324 shares traded. The stock had previously closed at $90.40.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ACLS shares. Bank of America raised their price target on Axcelis Technologies from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a research note on Friday, August 2nd. Craig Hallum lifted their price objective on shares of Axcelis Technologies from $130.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. B. Riley dropped their price target on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Benchmark dropped their price objective on shares of Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.33.

Axcelis Technologies Stock Down 0.1 %

The company’s 50 day moving average is $102.27 and its 200 day moving average is $114.30. The company has a market cap of $2.93 billion, a PE ratio of 11.88, a P/E/G ratio of 3.02 and a beta of 1.58. The company has a current ratio of 4.42, a quick ratio of 3.26 and a debt-to-equity ratio of 0.05.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.18. Axcelis Technologies had a net margin of 21.54% and a return on equity of 27.35%. The firm had revenue of $256.51 million during the quarter, compared to the consensus estimate of $250.06 million. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. As a group, analysts predict that Axcelis Technologies, Inc. will post 6.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jorge Titinger sold 6,086 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $109.98, for a total value of $669,338.28. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $647,892.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Trust Walden Corp bought a new stake in Axcelis Technologies during the third quarter valued at about $53,099,000. Reinhart Partners LLC. boosted its stake in Axcelis Technologies by 64.1% in the third quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company’s stock valued at $72,096,000 after acquiring an additional 268,560 shares in the last quarter. Vanguard Group Inc. grew its holdings in Axcelis Technologies by 6.5% in the first quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock worth $480,040,000 after purchasing an additional 263,604 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Axcelis Technologies during the 2nd quarter valued at $27,801,000. Finally, Boston Partners acquired a new stake in shares of Axcelis Technologies in the 1st quarter worth $20,819,000. 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.