Axcelis Technologies (NASDAQ:ACLS) Shares Gap Down – Should You Sell?

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $44.78, but opened at $43.00. Axcelis Technologies shares last traded at $43.40, with a volume of 36,240 shares changing hands.

Wall Street Analysts Forecast Growth

ACLS has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Wednesday, February 12th. B. Riley reiterated a “neutral” rating and set a $50.00 target price (down from $80.00) on shares of Axcelis Technologies in a report on Monday. William Blair lowered shares of Axcelis Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Finally, Craig Hallum dropped their price target on Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $131.00.

Axcelis Technologies Stock Performance

The business’s 50 day simple moving average is $54.44 and its two-hundred day simple moving average is $69.69. The firm has a market capitalization of $1.41 billion, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 4.52 and a beta of 1.59. The company has a current ratio of 5.41, a quick ratio of 4.05 and a debt-to-equity ratio of 0.04.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.29. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. Sell-side analysts anticipate that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

Axcelis Technologies announced that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Axcelis Technologies

Hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in Axcelis Technologies by 78,037.4% in the fourth quarter. Pacer Advisors Inc. now owns 782,155 shares of the semiconductor company’s stock worth $54,649,000 after purchasing an additional 781,154 shares during the last quarter. Norges Bank purchased a new stake in Axcelis Technologies during the fourth quarter valued at $36,050,000. Reinhart Partners LLC. boosted its position in Axcelis Technologies by 39.1% in the first quarter. Reinhart Partners LLC. now owns 1,441,022 shares of the semiconductor company’s stock worth $71,576,000 after purchasing an additional 404,910 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Axcelis Technologies by 61.9% during the 4th quarter. Boston Trust Walden Corp now owns 820,116 shares of the semiconductor company’s stock valued at $57,302,000 after purchasing an additional 313,689 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Axcelis Technologies by 37.8% in the 4th quarter. American Century Companies Inc. now owns 1,060,096 shares of the semiconductor company’s stock worth $74,069,000 after purchasing an additional 290,678 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.

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.