State of Alaska Department of Revenue Has $894,000 Stake in Axcelis Technologies, Inc. (NASDAQ:ACLS)

State of Alaska Department of Revenue decreased its position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,012 shares of the semiconductor company’s stock after selling 492 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Axcelis Technologies worth $894,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Axcelis Technologies during the 4th quarter valued at $397,000. Principal Financial Group Inc. raised its position in Axcelis Technologies by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 188,559 shares of the semiconductor company’s stock worth $13,175,000 after purchasing an additional 7,476 shares during the last quarter. LPL Financial LLC raised its position in Axcelis Technologies by 36.1% during the 4th quarter. LPL Financial LLC now owns 60,834 shares of the semiconductor company’s stock worth $4,250,000 after purchasing an additional 16,152 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Axcelis Technologies during the 4th quarter worth $298,000. Finally, Private Advisor Group LLC bought a new position in Axcelis Technologies during the 4th quarter worth $424,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

Insider Transactions at Axcelis Technologies

In other news, Director John T. Kurtzweil sold 1,682 shares of Axcelis Technologies 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 transaction, the director now directly owns 35,050 shares of the company’s stock, valued at approximately $2,170,646.50. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley raised their target price on Axcelis Technologies from $58.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $136.00.

Axcelis Technologies Stock Up 1.1%

Shares of NASDAQ:ACLS opened at $70.92 on Friday. The firm has a market cap of $2.28 billion, a P/E ratio of 12.99, a P/E/G ratio of 4.71 and a beta of 1.52. The company has a quick ratio of 4.08, a current ratio of 5.56 and a debt-to-equity ratio of 0.04. Axcelis Technologies, Inc. has a 12-month low of $40.40 and a 12-month high of $158.61. The business has a fifty day simple moving average of $59.33 and a 200 day simple moving average of $61.31.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.65. Axcelis Technologies had a return on equity of 18.55% and a net margin of 18.58%. The firm had revenue of $192.56 million during the quarter, compared to analyst estimates of $184.86 million. During the same period last year, the company posted $1.57 EPS. The business’s quarterly revenue was down 23.7% on a year-over-year basis. Analysts predict that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current year.

Axcelis Technologies declared that its board has authorized a stock buyback program on Wednesday, March 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Axcelis Technologies 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.