Zacks Investment Research cut shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) from a buy rating to a hold rating in a research note released on Friday morning.

According to Zacks, “Axcelis Technologies is a leading producer of ion implantation equipment used in the fabrication of semiconductors. The company also produces dry strip, photostabilization and rapid thermal processing equipment, which is used in semiconductor manufacturing primarily before and after the ion implantation process. In addition, the company provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. “

A number of other research firms also recently weighed in on ACLS. Needham & Company LLC reaffirmed a buy rating and issued a $27.00 target price (up from $23.00) on shares of Axcelis Technologies in a research report on Friday, June 16th. Wedbush upped their target price on shares of Axcelis Technologies from $23.00 to $27.00 in a research report on Friday, June 16th. ValuEngine raised shares of Axcelis Technologies from a hold rating to a buy rating in a research report on Friday, September 1st. Benchmark Co. reaffirmed a buy rating and issued a $28.00 target price (up from $24.00) on shares of Axcelis Technologies in a research report on Friday, September 8th. Finally, B. Riley reaffirmed a buy rating and issued a $30.00 target price on shares of Axcelis Technologies in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $25.67.

Shares of Axcelis Technologies (NASDAQ ACLS) opened at 24.95 on Friday. Axcelis Technologies has a 12-month low of $11.05 and a 12-month high of $26.53. The firm has a 50-day moving average of $21.22 and a 200-day moving average of $20.60. The firm has a market capitalization of $779.01 million, a PE ratio of 26.77 and a beta of 1.08.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). The company had revenue of $102.80 million for the quarter, compared to analysts’ expectations of $100.07 million. Axcelis Technologies had a net margin of 9.10% and a return on equity of 12.52%. The firm’s revenue for the quarter was up 59.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. Equities analysts anticipate that Axcelis Technologies will post $1.26 earnings per share for the current year.

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In related news, CFO Kevin J. Brewer sold 17,339 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $20.75, for a total transaction of $359,784.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William J. Bintz sold 12,500 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $22.57, for a total transaction of $282,125.00. The disclosure for this sale can be found here. Insiders have sold a total of 106,641 shares of company stock worth $2,347,514 over the last three months. 5.66% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in Axcelis Technologies by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,397 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 660 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Axcelis Technologies by 1.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 79,807 shares of the semiconductor company’s stock valued at $1,672,000 after purchasing an additional 1,147 shares during the last quarter. American International Group Inc. grew its position in Axcelis Technologies by 7.1% during the 1st quarter. American International Group Inc. now owns 17,943 shares of the semiconductor company’s stock valued at $337,000 after purchasing an additional 1,184 shares during the last quarter. New York State Common Retirement Fund grew its position in Axcelis Technologies by 4.7% during the 2nd quarter. New York State Common Retirement Fund now owns 30,975 shares of the semiconductor company’s stock valued at $649,000 after purchasing an additional 1,399 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Axcelis Technologies by 5.2% during the 2nd quarter. Wells Fargo & Company MN now owns 28,572 shares of the semiconductor company’s stock valued at $599,000 after purchasing an additional 1,416 shares during the last quarter. 75.34% of the stock is currently owned by institutional investors.

Axcelis Technologies Company Profile

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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