Old West Investment Management LLC Buys Shares of 16,268 Axcelis Technologies, Inc. $ACLS

Old West Investment Management LLC purchased a new position in Axcelis Technologies, Inc. (NASDAQ:ACLS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,268 shares of the semiconductor company’s stock, valued at approximately $1,588,000. Old West Investment Management LLC owned about 0.05% of Axcelis Technologies 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 the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Axcelis Technologies by 1,344.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 109,628 shares of the semiconductor company’s stock valued at $10,388,000 after buying an additional 102,040 shares during the period. Summit Global Investments purchased a new stake in Axcelis Technologies during the third quarter valued at $789,000. Squarepoint Ops LLC increased its position in Axcelis Technologies by 37.0% during the second quarter. Squarepoint Ops LLC now owns 100,023 shares of the semiconductor company’s stock valued at $6,971,000 after acquiring an additional 27,021 shares during the last quarter. AlphaQuest LLC bought a new position in Axcelis Technologies in the third quarter valued at about $1,347,000. Finally, Boston Partners boosted its position in Axcelis Technologies by 42.3% in the second quarter. Boston Partners now owns 474,043 shares of the semiconductor company’s stock worth $33,616,000 after purchasing an additional 141,004 shares during the last quarter. 89.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Axcelis Technologies from $90.00 to $100.00 and gave the stock an “underperform” rating in a research note on Tuesday, January 13th. Wall Street Zen downgraded shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. B. Riley Financial boosted their price objective on shares of Axcelis Technologies from $84.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Zacks Research lowered Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axcelis Technologies in a report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $102.25.

Axcelis Technologies Stock Up 5.6%

Shares of ACLS stock opened at $86.08 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.95 and a quick ratio of 3.32. Axcelis Technologies, Inc. has a one year low of $40.40 and a one year high of $102.93. The company’s fifty day moving average price is $87.84 and its 200-day moving average price is $84.54. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 20.35 and a beta of 1.77.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.20. The business had revenue of $213.61 million during the quarter, compared to analyst estimates of $200.06 million. Axcelis Technologies had a return on equity of 14.58% and a net margin of 15.93%.Axcelis Technologies’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 EPS. Sell-side analysts expect that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

Insider Activity at Axcelis Technologies

In other news, EVP Gerald M. Blumenstock sold 3,034 shares of Axcelis Technologies stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $89.46, for a total transaction of $271,421.64. Following the sale, the executive vice president owned 18,661 shares in the company, valued at $1,669,413.06. This trade represents a 13.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jorge Titinger sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $86.05, for a total transaction of $172,100.00. Following the transaction, the director owned 7,477 shares of the company’s stock, valued at approximately $643,395.85. This represents a 21.10% decrease in their position. The SEC filing for this sale provides additional information. 0.48% of the stock is currently owned by company insiders.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc is a leading developer and manufacturer of ion implantation and cleaning equipment used in the fabrication of semiconductor chips. The company specializes in high-current, medium-current and high-energy ion implantation systems, which are critical for introducing precisely controlled dopants into silicon wafers. Axcelis also offers plasma-based cleaning and dry strip tools that support advanced process nodes in logic, memory and power device manufacturing.

The company’s product portfolio encompasses single-wafer and multi-wafer cluster tools designed to deliver high throughput, accuracy and uniformity for semiconductor process steps.