Axcelis Technologies (NASDAQ:ACLS) Given New $75.00 Price Target at B. Riley

Axcelis Technologies (NASDAQ:ACLS) had its price objective lifted by B. Riley from $58.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Axcelis Technologies Stock Down 1.3%

ACLS opened at $66.02 on Wednesday. Axcelis Technologies has a fifty-two week low of $40.40 and a fifty-two week high of $158.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.56 and a quick ratio of 4.08. The firm’s fifty day moving average price is $57.47 and its two-hundred day moving average price is $61.47. The company has a market capitalization of $2.12 billion, a P/E ratio of 12.09, a P/E/G ratio of 4.49 and a beta of 1.52.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.39 by $0.65. Axcelis Technologies had a net margin of 18.58% and a return on equity of 18.55%. The company had revenue of $192.56 million for the quarter, compared to the consensus estimate of $184.86 million. During the same quarter in the previous year, the company earned $1.57 EPS. The firm’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, analysts anticipate that Axcelis Technologies will post 2.55 EPS for the current year.

Axcelis Technologies declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total transaction of $104,166.26. Following the completion of the sale, the director now directly owns 35,050 shares of the company’s stock, valued at approximately $2,170,646.50. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Axcelis Technologies

A number of institutional investors and hedge funds have recently modified their holdings of ACLS. Signaturefd LLC increased its stake in shares of Axcelis Technologies by 90.6% in the 4th quarter. Signaturefd LLC now owns 364 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 173 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Axcelis Technologies by 118.7% during the 1st quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 317 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Axcelis Technologies by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 358 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Axcelis Technologies by 1,415.2% during the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 467 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Axcelis Technologies in the 1st quarter valued at approximately $38,000. 89.98% of the stock is owned by institutional investors.

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.