Shares of Axcelis Technologies Inc. (NASDAQ:ACLS) dropped 1.9% on Tuesday . The company traded as low as $10.47 and last traded at $10.47, with a volume of 59,730 shares traded. The stock had previously closed at $10.67.

ACLS has been the subject of a number of recent analyst reports. B. Riley reiterated a “buy” rating and set a $4.25 price target on shares of Axcelis Technologies in a report on Sunday, May 8th. Zacks Investment Research downgraded Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Finally, TheStreet upgraded Axcelis Technologies from a “hold” rating to a “buy” rating in a report on Monday, March 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $5.88.

The company has a market cap of $308.88 million and a P/E ratio of 22.17. The stock has a 50-day moving average price of $10.70 and a 200-day moving average price of $10.47.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business earned $67.50 million during the quarter, compared to the consensus estimate of $65.95 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. Equities analysts forecast that Axcelis Technologies Inc. will post $0.43 earnings per share for the current fiscal year.

Other hedge funds have bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Axcelis Technologies by 102.3% in the fourth quarter. Victory Capital Management Inc. now owns 395,378 shares of the company’s stock valued at $1,024,000 after buying an additional 199,946 shares in the last quarter. Royce & Associates LLC increased its stake in Axcelis Technologies by 40.6% in the fourth quarter. Royce & Associates LLC now owns 3,899,095 shares of the company’s stock valued at $10,099,000 after buying an additional 1,125,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Axcelis Technologies by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,470,728 shares of the company’s stock valued at $14,169,000 after buying an additional 443,943 shares in the last quarter.

Axcelis Technologies, Inc designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company sells its equipment to semiconductor chip manufacturers across the world. In addition to equipment, it provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.

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