California Public Employees Retirement System Sells 3,914 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

California Public Employees Retirement System lessened its holdings in Axcelis Technologies, Inc. (NASDAQ:ACLS) by 6.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 57,261 shares of the semiconductor company’s stock after selling 3,914 shares during the period. California Public Employees Retirement System’s holdings in Axcelis Technologies were worth $4,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the business. Pictet Asset Management Holding SA lifted its stake in Axcelis Technologies by 18.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,896 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 762 shares during the period. New Age Alpha Advisors LLC acquired a new position in Axcelis Technologies during the fourth quarter worth $131,000. Norges Bank bought a new position in shares of Axcelis Technologies during the fourth quarter valued at $36,050,000. JPMorgan Chase & Co. grew its holdings in shares of Axcelis Technologies by 5.9% in the 4th quarter. JPMorgan Chase & Co. now owns 189,568 shares of the semiconductor company’s stock worth $13,245,000 after purchasing an additional 10,645 shares during the last quarter. Finally, WINTON GROUP Ltd increased its position in shares of Axcelis Technologies by 63.4% during the 4th quarter. WINTON GROUP Ltd now owns 14,848 shares of the semiconductor company’s stock worth $1,037,000 after purchasing an additional 5,763 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Axcelis Technologies Stock Down 4.8 %

Shares of ACLS opened at $42.68 on Wednesday. The business’s fifty day moving average price is $57.93 and its two-hundred day moving average price is $73.26. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 4.52 and a beta of 1.59. Axcelis Technologies, Inc. has a 52 week low of $40.40 and a 52 week high of $158.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.05 and a current ratio of 5.41.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.29. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. On average, analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. William Blair cut shares of Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. Finally, Craig Hallum cut their price objective on Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Four 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 a consensus target price of $154.00.

About Axcelis Technologies

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.