Axcelis Technologies, Inc. (NASDAQ:ACLS) Shares Bought by Perkins Coie Trust Co

Perkins Coie Trust Co boosted its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 9.2% in the first quarter, Holdings Channel reports. The fund owned 2,675 shares of the semiconductor company’s stock after purchasing an additional 225 shares during the period. Perkins Coie Trust Co’s holdings in Axcelis Technologies were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Reinhart Partners LLC. lifted its holdings in shares of Axcelis Technologies by 39.1% in the 1st quarter. Reinhart Partners LLC. now owns 1,441,022 shares of the semiconductor company’s stock valued at $71,576,000 after buying an additional 404,910 shares during the period. Rhumbline Advisers lifted its holdings in shares of Axcelis Technologies by 6.4% in the 1st quarter. Rhumbline Advisers now owns 96,647 shares of the semiconductor company’s stock valued at $4,800,000 after buying an additional 5,805 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Axcelis Technologies by 9,286.1% in the 1st quarter. GAMMA Investing LLC now owns 78,280 shares of the semiconductor company’s stock valued at $3,888,000 after buying an additional 77,446 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Axcelis Technologies by 118.7% in the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 317 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Axcelis Technologies in the 4th quarter valued at approximately $298,000. 89.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACLS. B. Riley reaffirmed a “neutral” rating and issued a $50.00 price objective (down from $80.00) on shares of Axcelis Technologies in a research note on Monday, April 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Finally, William Blair cut Axcelis Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $131.00.

Insider Transactions at Axcelis Technologies

In related news, Director John T. Kurtzweil sold 1,682 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the transaction, the director now directly owns 35,050 shares in the company, valued at approximately $2,170,646.50. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Axcelis Technologies Stock Performance

NASDAQ ACLS opened at $63.51 on Friday. Axcelis Technologies, Inc. has a fifty-two week low of $40.40 and a fifty-two week high of $158.61. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 4.52 and a beta of 1.52. The business has a fifty day moving average of $53.08 and a 200-day moving average of $61.95. 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 results on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.65. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. The company had revenue of $192.56 million during the quarter, compared to analysts’ expectations of $184.86 million. During the same period in the previous year, the firm posted $1.57 earnings per share. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. As a group, analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

Axcelis Technologies declared that its board has approved a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Axcelis Technologies 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.