Axcelis Technologies Inc (NASDAQ:ACLS) hit a new 52-week low during trading on Thursday . The stock traded as low as $17.06 and last traded at $17.17, with a volume of 12898 shares traded. The stock had previously closed at $17.33.

Several equities research analysts have recently commented on the company. Northland Securities assumed coverage on Axcelis Technologies in a research note on Wednesday, June 20th. They set an “outperform” rating and a $28.00 price target on the stock. BidaskClub raised Axcelis Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Zacks Investment Research lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine lowered Axcelis Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Finally, Benchmark reissued a “buy” rating and set a $32.00 price target on shares of Axcelis Technologies in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Axcelis Technologies has a consensus rating of “Hold” and an average price target of $29.50.

The company has a market capitalization of $635.79 million, a P/E ratio of 11.42 and a beta of 0.84.

Axcelis Technologies (NASDAQ:ACLS) last posted its earnings results on Thursday, August 2nd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. Axcelis Technologies had a return on equity of 16.84% and a net margin of 28.57%. The firm had revenue of $119.30 million for the quarter, compared to analyst estimates of $116.33 million. During the same quarter in the prior year, the company earned $0.42 EPS. Axcelis Technologies’s revenue was up 16.1% on a year-over-year basis. As a group, research analysts forecast that Axcelis Technologies Inc will post 1.33 EPS for the current year.

A number of hedge funds have recently bought and sold shares of ACLS. Wells Fargo & Company MN lifted its stake in Axcelis Technologies by 147.8% in the 1st quarter. Wells Fargo & Company MN now owns 200,194 shares of the semiconductor company’s stock valued at $4,926,000 after buying an additional 119,402 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Axcelis Technologies by 6.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 167,558 shares of the semiconductor company’s stock valued at $4,122,000 after buying an additional 9,536 shares in the last quarter. Northern Trust Corp lifted its stake in Axcelis Technologies by 1.9% in the 1st quarter. Northern Trust Corp now owns 385,403 shares of the semiconductor company’s stock valued at $9,481,000 after buying an additional 7,081 shares in the last quarter. BlackRock Inc. lifted its stake in Axcelis Technologies by 4.3% in the 1st quarter. BlackRock Inc. now owns 4,083,709 shares of the semiconductor company’s stock valued at $100,459,000 after buying an additional 168,711 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Axcelis Technologies by 315.0% in the 1st quarter. JPMorgan Chase & Co. now owns 208,248 shares of the semiconductor company’s stock valued at $5,123,000 after buying an additional 158,065 shares in the last quarter. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

About Axcelis Technologies (NASDAQ:ACLS)

Axcelis Technologies, Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide. The company offers a line of high energy, high current, and medium current implanters for various application requirements. It also provides dry strip equipment, curing systems, and thermal processing systems.

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