Pitcairn Co. Trims Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Pitcairn Co. trimmed its holdings in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 25.4% in the third quarter, HoldingsChannel reports. The firm owned 4,324 shares of the semiconductor company’s stock after selling 1,470 shares during the period. Pitcairn Co.’s holdings in Axcelis Technologies were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Van ECK Associates Corp grew its holdings in Axcelis Technologies by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 23,751 shares of the semiconductor company’s stock valued at $2,490,000 after buying an additional 6,786 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Axcelis Technologies by 309.0% in the second quarter. Harbor Capital Advisors Inc. now owns 17,549 shares of the semiconductor company’s stock valued at $2,495,000 after acquiring an additional 13,258 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Axcelis Technologies by 157.1% during the third quarter. Royce & Associates LP now owns 273,671 shares of the semiconductor company’s stock valued at $28,694,000 after acquiring an additional 167,235 shares during the last quarter. Annex Advisory Services LLC increased its position in Axcelis Technologies by 72.0% during the 3rd quarter. Annex Advisory Services LLC now owns 12,226 shares of the semiconductor company’s stock worth $1,282,000 after purchasing an additional 5,118 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in Axcelis Technologies by 281.5% in the 1st quarter. Virtu Financial LLC now owns 12,467 shares of the semiconductor company’s stock valued at $1,390,000 after purchasing an additional 9,199 shares during the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

Axcelis Technologies Stock Performance

Shares of ACLS stock opened at $74.45 on Wednesday. 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 firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. Axcelis Technologies, Inc. has a one year low of $69.35 and a one year high of $158.61. The company has a 50 day moving average price of $91.06 and a 200 day moving average price of $110.67.

Analyst Upgrades and Downgrades

ACLS has been the topic of several analyst reports. Benchmark cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a research note on Friday, November 8th. Finally, B. Riley reduced their price target on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.33.

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.