Perkins Coie Trust Co Boosts Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Perkins Coie Trust Co lifted its position in Axcelis Technologies, Inc. (NASDAQ:ACLS) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,675 shares of the semiconductor company’s stock after buying an additional 225 shares during the quarter. Perkins Coie Trust Co’s holdings in Axcelis Technologies were worth $133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC raised its holdings 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 buying an additional 173 shares during the period. Capital Advisors Ltd. LLC increased its holdings in 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 purchasing an additional 467 shares during the period. Versant Capital Management Inc increased its holdings in 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 purchasing an additional 317 shares during the period. Blue Trust Inc. increased its holdings in Axcelis Technologies by 85.5% during the 4th quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 289 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Axcelis Technologies by 184.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 668 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 433 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Insider Activity at Axcelis Technologies

In related news, Director John T. Kurtzweil sold 1,682 shares of the company’s stock in a transaction dated 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 now directly owns 35,050 shares of the company’s stock, valued at $2,170,646.50. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Axcelis Technologies Trading Up 5.2%

ACLS opened at $63.51 on Friday. Axcelis Technologies, Inc. has a one year low of $40.40 and a one year high of $158.61. The company has a market cap of $2.04 billion, a P/E ratio of 10.33, a PEG 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 business’s 50-day simple moving average is $53.08 and its 200-day simple moving average is $61.95.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 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 21.02% and a net margin of 19.75%. The business’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.57 EPS. As a group, equities research analysts expect that Axcelis Technologies, Inc. will post 2.55 EPS for the current fiscal year.

Axcelis Technologies announced that its board has authorized a share repurchase program on Wednesday, March 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

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

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.