Axcelis Technologies (NASDAQ:ACLS) Trading Down 5.2% – Time to Sell?

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price dropped 5.2% during mid-day trading on Tuesday . The stock traded as low as $57.56 and last traded at $56.88. Approximately 56,324 shares changed hands during trading, a decline of 91% from the average daily volume of 655,555 shares. The stock had previously closed at $59.97.

Analysts Set New Price Targets

ACLS has been the topic of several recent research reports. William Blair downgraded Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a report 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 on the stock in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axcelis Technologies currently has a consensus rating of “Hold” and a consensus price target of $154.00.

Axcelis Technologies Stock Up 4.0 %

The company has a quick ratio of 4.05, a current ratio of 5.41 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $65.49 and its 200 day simple moving average is $80.35. The firm has a market capitalization of $1.93 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 4.52 and a beta of 1.62.

Axcelis Technologies (NASDAQ:ACLS) last released its earnings results on Monday, February 10th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.29. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. Analysts anticipate that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

Axcelis Technologies announced that its board has approved a share repurchase program on Wednesday, March 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACLS. Signaturefd LLC boosted its stake 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 acquiring an additional 173 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Axcelis Technologies by 1,153.8% during the 4th quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 450 shares in 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 worth $35,000 after purchasing an additional 467 shares in the last quarter. Blue Trust Inc. lifted its stake in Axcelis Technologies by 85.5% in the 4th quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 289 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Axcelis Technologies by 184.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Company Profile

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.