Axcelis Technologies (NASDAQ:ACLS) Trading Down 5.2% – Time to Sell?

Axcelis Technologies, Inc. (NASDAQ:ACLS) shares fell 5.2% during mid-day trading on Tuesday . The stock traded as low as $57.56 and last traded at $56.88. 56,324 shares were traded during mid-day trading, a decline of 91% from the average session volume of 655,555 shares. The stock had previously closed at $59.97.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACLS. William Blair lowered Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Craig Hallum decreased their price target 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $154.00.

Axcelis Technologies Price Performance

The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 4.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.05 and a current ratio of 5.41. The company has a fifty day simple moving average of $65.49 and a 200 day simple moving average of $80.35.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data 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 return on equity of 21.02% and a net margin of 19.75%. Equities research analysts forecast that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Axcelis Technologies

Several institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. grew its holdings in shares of Axcelis Technologies by 5.8% in the third quarter. Crossmark Global Holdings Inc. now owns 2,398 shares of the semiconductor company’s stock valued at $251,000 after acquiring an additional 132 shares in the last quarter. Bank of Montreal Can lifted its stake in Axcelis Technologies by 3.9% in the fourth quarter. Bank of Montreal Can now owns 4,540 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 170 shares during the last quarter. Signaturefd LLC lifted its stake in Axcelis Technologies by 90.6% in the fourth quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 173 shares during the last quarter. KBC Group NV lifted its stake in Axcelis Technologies by 30.3% in the third quarter. KBC Group NV now owns 934 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 217 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Axcelis Technologies by 27.6% in the third quarter. Advisors Asset Management Inc. now owns 1,293 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 280 shares during the last quarter. 89.98% of the stock is owned by 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.