Axcelis Technologies (NASDAQ:ACLS) Shares Down 6.5% – Should You Sell?

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price fell 6.5% on Tuesday . The company traded as low as $98.00 and last traded at $98.29. 466,240 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 625,783 shares. The stock had previously closed at $105.10.

Analyst Ratings Changes

ACLS has been the subject of a number of analyst reports. DA Davidson boosted their price objective on shares of Axcelis Technologies from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Friday, August 2nd. Bank of America raised their price objective on Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Benchmark decreased their target price on Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Craig Hallum increased their price target on Axcelis Technologies from $130.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.33.

Axcelis Technologies Price Performance

The stock has a market cap of $3.14 billion, a P/E ratio of 13.01, a PEG ratio of 3.02 and a beta of 1.58. The company has a 50 day simple moving average of $105.23 and a 200 day simple moving average of $115.27. The company has a current ratio of 4.42, a quick ratio of 3.26 and a debt-to-equity ratio of 0.05.

Axcelis Technologies (NASDAQ:ACLS) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.37 by $0.18. Axcelis Technologies had a net margin of 21.54% and a return on equity of 27.35%. The business had revenue of $256.51 million during the quarter, compared to analysts’ expectations of $250.06 million. During the same quarter in the prior year, the company posted $1.86 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts forecast that Axcelis Technologies, Inc. will post 6.05 earnings per share for the current fiscal year.

Insider Transactions at Axcelis Technologies

In related news, Director Jorge Titinger sold 6,086 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $109.98, for a total value of $669,338.28. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $647,892.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Axcelis Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Axcelis Technologies by 109.4% during the 1st quarter. GAMMA Investing LLC now owns 266 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 139 shares during the period. Signaturefd LLC boosted its position in Axcelis Technologies by 348.9% during the second quarter. Signaturefd LLC now owns 211 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 164 shares during the period. Blue Trust Inc. increased its holdings in shares of Axcelis Technologies by 223.8% in the second quarter. Blue Trust Inc. now owns 272 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 188 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Axcelis Technologies in the second quarter valued at about $39,000. Finally, Isthmus Partners LLC boosted its holdings in shares of Axcelis Technologies by 87.3% during the 2nd quarter. Isthmus Partners LLC now owns 33,270 shares of the semiconductor company’s stock worth $47,000 after buying an additional 15,507 shares during the period. Institutional investors own 89.98% of the company’s stock.

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.