Zacks Investment Research cut shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “

A number of other equities research analysts have also issued reports on the company. Benchmark Co. restated a buy rating and issued a $28.00 price target (up from $24.00) on shares of Axcelis Technologies in a research report on Friday, September 8th. ValuEngine upgraded Axcelis Technologies from a hold rating to a buy rating in a research report on Friday, September 1st. B. Riley restated a buy rating and issued a $30.00 price target on shares of Axcelis Technologies in a research report on Wednesday, August 9th. BidaskClub lowered Axcelis Technologies from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, Wedbush upped their price target on Axcelis Technologies from $23.00 to $27.00 in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $25.67.

Axcelis Technologies (ACLS) opened at 23.35 on Thursday. The stock has a 50 day moving average price of $21.09 and a 200-day moving average price of $20.39. Axcelis Technologies has a one year low of $11.05 and a one year high of $26.53. The stock has a market cap of $729.06 million, a PE ratio of 25.05 and a beta of 1.08.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $102.80 million during the quarter, compared to analysts’ expectations of $100.07 million. Axcelis Technologies had a net margin of 9.10% and a return on equity of 12.52%. Axcelis Technologies’s revenue for the quarter was up 59.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts expect that Axcelis Technologies will post $1.26 earnings per share for the current fiscal year.

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In other news, EVP William J. Bintz sold 12,500 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $22.57, for a total value of $282,125.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Douglas A. Lawson sold 14,454 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $21.12, for a total value of $305,268.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,641 shares of company stock worth $2,347,514. Insiders own 5.66% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Peregrine Capital Management LLC raised its stake in shares of Axcelis Technologies by 405.6% in the second quarter. Peregrine Capital Management LLC now owns 572,856 shares of the semiconductor company’s stock valued at $12,001,000 after acquiring an additional 459,560 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Axcelis Technologies by 247.3% in the second quarter. Russell Investments Group Ltd. now owns 161,665 shares of the semiconductor company’s stock valued at $3,386,000 after acquiring an additional 115,111 shares in the last quarter. Schneider Capital Management Corp raised its stake in shares of Axcelis Technologies by 0.7% in the first quarter. Schneider Capital Management Corp now owns 394,346 shares of the semiconductor company’s stock valued at $7,414,000 after acquiring an additional 2,783 shares in the last quarter. KBC Group NV raised its stake in shares of Axcelis Technologies by 138.0% in the second quarter. KBC Group NV now owns 77,218 shares of the semiconductor company’s stock valued at $1,618,000 after acquiring an additional 44,775 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Axcelis Technologies by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,225,693 shares of the semiconductor company’s stock valued at $23,043,000 after acquiring an additional 61,085 shares in the last quarter. Institutional investors and hedge funds own 75.85% 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. The Company also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.

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