Allianz Asset Management GmbH Sells 43,425 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Allianz Asset Management GmbH lessened its stake in Axcelis Technologies, Inc. (NASDAQ:ACLS) by 74.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,530 shares of the semiconductor company’s stock after selling 43,425 shares during the quarter. Allianz Asset Management GmbH’s holdings in Axcelis Technologies were worth $722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACLS. Fifth Third Bancorp lifted its stake in Axcelis Technologies by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 581 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 358 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Axcelis Technologies by 118.7% in the first quarter. Versant Capital Management Inc now owns 584 shares of the semiconductor company’s stock worth $29,000 after buying an additional 317 shares in the last quarter. Quarry LP boosted its stake in Axcelis Technologies by 1,387.5% during the fourth quarter. Quarry LP now owns 714 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 666 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Axcelis Technologies by 97.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 796 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 393 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in Axcelis Technologies in the 1st quarter worth approximately $44,000. Institutional investors own 89.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director John T. Kurtzweil sold 1,682 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $61.93, for a total value of $104,166.26. Following the completion of the sale, the director directly owned 35,050 shares in the company, valued at $2,170,646.50. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley increased their target price on Axcelis Technologies from $58.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, June 18th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $118.33.

Axcelis Technologies Stock Up 1.6%

Shares of NASDAQ ACLS opened at $68.75 on Friday. The company has a current ratio of 5.56, a quick ratio of 4.08 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 12-month low of $40.40 and a 12-month high of $117.57. The firm’s 50-day moving average price is $68.61 and its 200-day moving average price is $61.37. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.59 and a beta of 1.58.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings data 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 business had revenue of $192.56 million for the quarter, compared to the consensus estimate of $184.86 million. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. The company’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 earnings per share. On average, equities research analysts anticipate that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

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.