Pitcairn Co. Purchases 259 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Pitcairn Co. increased its position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 5.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,301 shares of the semiconductor company’s stock after buying an additional 259 shares during the period. Pitcairn Co.’s holdings in Axcelis Technologies were worth $591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ACLS. Vanguard Group Inc. raised its position in shares of Axcelis Technologies by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock worth $480,040,000 after acquiring an additional 263,604 shares in the last quarter. Jackson Square Partners LLC grew its stake in Axcelis Technologies by 49.0% during the first quarter. Jackson Square Partners LLC now owns 492,764 shares of the semiconductor company’s stock worth $54,953,000 after purchasing an additional 162,040 shares during the period. Goldman Sachs Group Inc. increased its holdings in Axcelis Technologies by 0.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 442,586 shares of the semiconductor company’s stock worth $57,399,000 after purchasing an additional 3,999 shares in the last quarter. Norges Bank acquired a new position in Axcelis Technologies in the fourth quarter valued at approximately $57,105,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Axcelis Technologies by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 431,113 shares of the semiconductor company’s stock worth $55,911,000 after buying an additional 17,635 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Insider Activity

In related news, Director John T. Kurtzweil sold 1,200 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $114.42, for a total transaction of $137,304.00. Following the transaction, the director now directly owns 33,146 shares in the company, valued at $3,792,565.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ACLS has been the subject of several research analyst reports. Bank of America lifted their price objective on shares of Axcelis Technologies from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Benchmark upped their price objective on shares of Axcelis Technologies from $170.00 to $180.00 and gave the company a “buy” rating in a report on Monday, July 15th. B. Riley raised their target price on Axcelis Technologies from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Craig Hallum upped their price target on Axcelis Technologies from $130.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $172.33.

Axcelis Technologies Stock Performance

Shares of Axcelis Technologies stock opened at $120.24 on Friday. Axcelis Technologies, Inc. has a 52 week low of $93.77 and a 52 week high of $201.00. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $131.33 and a 200-day moving average price of $120.20. The company has a market cap of $3.91 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.60.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.31. Axcelis Technologies had a return on equity of 30.22% and a net margin of 22.16%. The business had revenue of $252.37 million during the quarter, compared to analyst estimates of $242.55 million. Equities analysts anticipate that Axcelis Technologies, Inc. will post 6.47 earnings per share for the current fiscal year.

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.