Axcelis Technologies (NASDAQ:ACLS) Reaches New 52-Week Low – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Axcelis Technologies Trading Down 3.6 %

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 has a market cap of $1.67 billion, a price-to-earnings ratio of 8.43, a P/E/G ratio of 4.52 and a beta of 1.62. The business has a fifty day simple moving average of $62.23 and a 200 day simple moving average of $76.79.

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

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

Institutional Trading of Axcelis Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new position in Axcelis Technologies during the fourth quarter worth $298,000. Mackenzie Financial Corp grew its position in shares of Axcelis Technologies by 186.3% during the 4th quarter. Mackenzie Financial Corp now owns 5,887 shares of the semiconductor company’s stock valued at $411,000 after buying an additional 3,831 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Axcelis Technologies during the fourth quarter worth about $510,000. Breed s Hill Capital LLC bought a new position in Axcelis Technologies in the fourth quarter worth about $210,000. Finally, CSS LLC IL bought a new position in shares of Axcelis Technologies during the fourth quarter valued at approximately $385,000. 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.