BidaskClub downgraded shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) from a hold rating to a sell rating in a research report sent to investors on Saturday.

ACLS has been the subject of several other research reports. B. Riley reiterated a buy rating and issued a $30.00 price target on shares of Axcelis Technologies in a research report on Wednesday, May 10th. Needham & Company LLC reiterated a buy rating and issued a $27.00 price target (up previously from $23.00) on shares of Axcelis Technologies in a research report on Friday, June 16th. Stifel Nicolaus reduced their price target on shares of Axcelis Technologies from $19.00 to $16.00 and set a hold rating for the company in a research report on Monday, May 15th. Zacks Investment Research upgraded shares of Axcelis Technologies from a hold rating to a buy rating and set a $24.00 price target for the company in a research report on Friday, July 14th. Finally, Wedbush upped their price target on shares of Axcelis Technologies from $23.00 to $27.00 in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Axcelis Technologies currently has an average rating of Buy and an average target price of $24.67.

Axcelis Technologies (NASDAQ:ACLS) opened at 20.70 on Friday. The stock has a market cap of $622.97 million, a PE ratio of 34.79 and a beta of 1.11. The company’s 50 day moving average is $22.41 and its 200 day moving average is $19.31. Axcelis Technologies has a one year low of $11.05 and a one year high of $26.53.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by $0.01. Axcelis Technologies had a net margin of 9.10% and a return on equity of 13.02%. The business had revenue of $102.80 million during the quarter, compared to analysts’ expectations of $100.07 million. During the same quarter last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 59.4% compared to the same quarter last year. On average, equities research analysts expect that Axcelis Technologies will post $1.22 EPS for the current year.

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In other Axcelis Technologies news, CFO Kevin J. Brewer sold 93,750 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $21.94, for a total transaction of $2,056,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph P. Keithley sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $24.58, for a total transaction of $491,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 471,767 shares of company stock valued at $10,386,961. 5.66% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of Axcelis Technologies by 4.4% in the fourth quarter. State Street Corp now owns 495,084 shares of the semiconductor company’s stock worth $7,205,000 after buying an additional 20,751 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Axcelis Technologies by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,602,993 shares of the semiconductor company’s stock worth $23,323,000 after buying an additional 82,443 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Axcelis Technologies by 11.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,593 shares of the semiconductor company’s stock worth $300,000 after buying an additional 2,060 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Axcelis Technologies by 502.2% in the fourth quarter. Guggenheim Capital LLC now owns 69,036 shares of the semiconductor company’s stock worth $1,004,000 after buying an additional 57,572 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Axcelis Technologies during the fourth quarter worth approximately $2,082,000. Institutional investors own 77.13% of the company’s stock.

About Axcelis Technologies

Axcelis Technologies, Inc designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.

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