Axcelis Technologies (NASDAQ:ACLS) Hits New 12-Month Low – What’s Next?

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) hit a new 52-week low during trading on Thursday . The company traded as low as $46.50 and last traded at $46.03, with a volume of 117471 shares traded. The stock had previously closed at $50.96.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research note on Wednesday, February 12th. Craig Hallum decreased their price target 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. Finally, William Blair downgraded Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Axcelis Technologies currently has a consensus rating of “Hold” and an average price target of $154.00.

Axcelis Technologies Trading Down 8.9 %

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 company has a market cap of $1.49 billion, a PE ratio of 7.55, a P/E/G ratio of 4.52 and a beta of 1.62. The company has a fifty day simple moving average of $60.54 and a two-hundred day simple moving average of $75.24.

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

Axcelis Technologies declared that its Board of Directors has initiated a share repurchase 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 purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Axcelis Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Axcelis Technologies by 78,037.4% in the 4th quarter. Pacer Advisors Inc. now owns 782,155 shares of the semiconductor company’s stock valued at $54,649,000 after buying an additional 781,154 shares during the period. Norges Bank acquired a new stake in Axcelis Technologies in the fourth quarter valued at about $36,050,000. Reinhart Partners LLC. increased its position in Axcelis Technologies by 50.7% during the 4th quarter. Reinhart Partners LLC. now owns 1,036,112 shares of the semiconductor company’s stock worth $72,393,000 after purchasing an additional 348,504 shares during the period. Boston Trust Walden Corp lifted its holdings in shares of Axcelis Technologies by 61.9% in the 4th quarter. Boston Trust Walden Corp now owns 820,116 shares of the semiconductor company’s stock valued at $57,302,000 after buying an additional 313,689 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Axcelis Technologies by 37.8% in the fourth quarter. American Century Companies Inc. now owns 1,060,096 shares of the semiconductor company’s stock valued at $74,069,000 after buying an additional 290,678 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

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.