Axcelis Technologies (NASDAQ:ACLS) Sets New 1-Year Low – Time to Sell?

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) hit a new 52-week low on Friday . The stock traded as low as $52.70 and last traded at $53.21, with a volume of 27410 shares. The stock had previously closed at $53.78.

Analysts Set New Price Targets

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

Axcelis Technologies Stock Down 3.6 %

The company has a current ratio of 5.41, a quick ratio of 4.05 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $62.23 and its 200-day moving average is $76.79. The stock has a market capitalization of $1.67 billion, a P/E ratio of 8.43, a P/E/G ratio of 4.52 and a beta of 1.62.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Monday, February 10th. The semiconductor company reported $1.54 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%. As a group, equities research analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Axcelis Technologies announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its position in 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. Avior Wealth Management LLC boosted its holdings 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 acquiring an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Axcelis Technologies by 1,415.2% during the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 467 shares during the last quarter. Blue Trust Inc. raised its position in Axcelis Technologies by 85.5% in the fourth quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 289 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Axcelis Technologies by 184.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 433 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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.