Axcelis Technologies (NASDAQ:ACLS) Sets New 12-Month Low – Here’s Why

Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) hit a new 52-week low during trading on Thursday . The company traded as low as $81.47 and last traded at $84.22, with a volume of 119882 shares traded. The stock had previously closed at $87.95.

Wall Street Analyst Weigh In

ACLS has been the subject of a number of research analyst reports. B. Riley decreased their target price on Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Bank of America boosted their price target on Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a research report on Friday, August 2nd. Benchmark reduced their target price on shares of Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, DA Davidson lifted their price objective on shares of Axcelis Technologies from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $167.33.

Axcelis Technologies Price Performance

The stock’s 50 day simple moving average is $97.85 and its 200-day simple moving average is $113.40. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.60 and a beta of 1.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.26 and a current ratio of 4.42.

Institutional Trading of Axcelis Technologies

Large investors have recently added to or reduced their stakes in the company. Homestead Advisers Corp purchased a new stake in Axcelis Technologies in the first quarter valued at approximately $1,227,000. SG Americas Securities LLC purchased a new position in shares of Axcelis Technologies during the first quarter worth $791,000. Harbor Capital Advisors Inc. lifted its position in Axcelis Technologies by 309.0% during the second quarter. Harbor Capital Advisors Inc. now owns 17,549 shares of the semiconductor company’s stock valued at $2,495,000 after purchasing an additional 13,258 shares during the period. Annex Advisory Services LLC grew its position in Axcelis Technologies by 72.0% during the 3rd quarter. Annex Advisory Services LLC now owns 12,226 shares of the semiconductor company’s stock worth $1,282,000 after purchasing an additional 5,118 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Axcelis Technologies during the 1st quarter valued at about $594,000. Hedge funds and other institutional investors 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.