Axcelis Technologies (NASDAQ:ACLS) Trading 6.8% Higher – Should You Buy?

Axcelis Technologies, Inc. (NASDAQ:ACLS)’s stock price was up 6.8% during trading on Monday . The company traded as high as $67.70 and last traded at $67.81. Approximately 169,607 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 647,745 shares. The stock had previously closed at $63.51.

Wall Street Analyst Weigh In

Several analysts have issued reports on ACLS shares. William Blair cut Axcelis Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. B. Riley reiterated a “neutral” rating and issued a $50.00 price target (down from $80.00) on shares of Axcelis Technologies in a report on Monday, April 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research note on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Axcelis Technologies has a consensus rating of “Hold” and an average price target of $131.00.

Axcelis Technologies Trading Up 4.7%

The firm has a market cap of $2.27 billion, a P/E ratio of 11.51, a P/E/G ratio of 4.52 and a beta of 1.52. 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 firm has a fifty day moving average of $53.94 and a 200-day moving average of $61.81.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.65. The company had revenue of $192.56 million for the quarter, compared to analysts’ expectations of $184.86 million. Axcelis Technologies had a return on equity of 21.02% and a net margin of 19.75%. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. Equities research analysts forecast that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Axcelis Technologies declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Axcelis Technologies

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $61.93, for a total transaction of $104,166.26. Following the transaction, the director now owns 35,050 shares of the company’s stock, valued at approximately $2,170,646.50. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Axcelis Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Axcelis Technologies during the 4th quarter valued at $397,000. Principal Financial Group Inc. boosted its stake in Axcelis Technologies by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 188,559 shares of the semiconductor company’s stock valued at $13,175,000 after buying an additional 7,476 shares in the last quarter. LPL Financial LLC grew its holdings in Axcelis Technologies by 36.1% during the fourth quarter. LPL Financial LLC now owns 60,834 shares of the semiconductor company’s stock worth $4,250,000 after acquiring an additional 16,152 shares during the period. Empowered Funds LLC bought a new stake in Axcelis Technologies in the fourth quarter worth about $465,000. Finally, Private Advisor Group LLC acquired a new stake in Axcelis Technologies in the 4th quarter valued at about $424,000. 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.