Analysts Set Axcelis Technologies, Inc. (NASDAQ:ACLS) PT at $131.00

Axcelis Technologies, Inc. (NASDAQ:ACLS) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $131.00.

Several research firms recently commented on ACLS. William Blair cut Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. B. Riley reiterated a “neutral” rating and issued a $50.00 price target (down previously from $80.00) on shares of Axcelis Technologies in a research note on Monday, April 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research note on Wednesday, February 12th.

Axcelis Technologies Trading Down 4.0%

Shares of ACLS opened at $67.93 on Monday. The stock’s 50-day moving average is $54.45 and its two-hundred day moving average is $61.86. The stock has a market cap of $2.18 billion, a PE ratio of 11.05, a P/E/G ratio of 4.52 and a beta of 1.52. Axcelis Technologies has a 12 month low of $40.40 and a 12 month high of $158.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.05.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.65. The company had revenue of $192.56 million for the quarter, compared to analysts’ expectations of $184.86 million. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. The firm’s quarterly revenue was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 earnings per share. Equities analysts forecast that Axcelis Technologies will post 2.55 earnings per share for the current fiscal year.

Axcelis Technologies declared that its board has approved a stock 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 repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director John T. Kurtzweil sold 1,682 shares of Axcelis Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the transaction, the director now owns 35,050 shares in the company, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axcelis Technologies

Several institutional investors have recently added to or reduced their stakes in ACLS. Signaturefd LLC raised its holdings in shares of Axcelis Technologies by 90.6% in the 4th quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 173 shares during the period. Versant Capital Management Inc lifted its stake in Axcelis Technologies by 118.7% in the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 317 shares during the last quarter. Fifth Third Bancorp lifted its stake in Axcelis Technologies by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. Capital Advisors Ltd. LLC lifted 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 valued at $35,000 after purchasing an additional 467 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Axcelis Technologies during the first quarter valued at $38,000. 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.