Axcelis Technologies (NASDAQ:ACLS) Sets New 1-Year Low – Here’s Why

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

Analysts Set New Price Targets

A number of brokerages have commented on ACLS. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. William Blair downgraded Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Finally, Craig Hallum dropped 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. According to data from MarketBeat.com, Axcelis Technologies currently has an average rating of “Hold” and a consensus target price of $154.00.

Axcelis Technologies Stock Down 8.9 %

The stock 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 business has a 50 day moving average price of $60.54 and a 200 day moving average price of $75.24. The company has a quick ratio of 4.05, a current ratio of 5.41 and a debt-to-equity ratio of 0.04.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $1.54 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%. Equities research analysts expect that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

Axcelis Technologies declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACLS. Vanguard Group Inc. raised its holdings in shares of Axcelis Technologies by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 4,396,134 shares of the semiconductor company’s stock valued at $307,158,000 after acquiring an additional 106,203 shares during the last quarter. State Street Corp raised its position in shares of Axcelis Technologies by 1.5% in the third quarter. State Street Corp now owns 1,233,282 shares of the semiconductor company’s stock valued at $129,310,000 after buying an additional 18,101 shares during the last quarter. American Century Companies Inc. boosted its position in Axcelis Technologies by 37.8% during the fourth quarter. American Century Companies Inc. now owns 1,060,096 shares of the semiconductor company’s stock worth $74,069,000 after acquiring an additional 290,678 shares during the last quarter. Reinhart Partners LLC. grew its stake 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 valued at $72,393,000 after acquiring an additional 348,504 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Axcelis Technologies by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 897,750 shares of the semiconductor company’s stock worth $62,738,000 after purchasing an additional 23,234 shares during the last quarter. Institutional investors and hedge funds 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.