Axcelis Technologies (NASDAQ:ACLS) Cut to Hold at Wall Street Zen

Axcelis Technologies (NASDAQ:ACLS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other equities analysts have also issued reports on the company. DA Davidson increased their price objective on Axcelis Technologies from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Bank of America lowered Axcelis Technologies from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $81.00 to $90.00 in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Axcelis Technologies in a report on Friday. Benchmark raised Axcelis Technologies from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Thursday, October 2nd. Finally, Zacks Research lowered Axcelis Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $97.00.

Axcelis Technologies Price Performance

Shares of ACLS opened at $83.31 on Friday. The company has a market cap of $2.62 billion, a P/E ratio of 17.04 and a beta of 1.75. The stock has a fifty day moving average price of $85.87 and a 200 day moving average price of $71.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.01 and a quick ratio of 4.26. Axcelis Technologies has a 12 month low of $40.40 and a 12 month high of $102.93.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings data on Monday, April 21st. The semiconductor company reported $1.71 EPS for the quarter. The firm had revenue of $252.42 million during the quarter. Axcelis Technologies had a return on equity of 16.26% and a net margin of 17.69%. On average, research analysts forecast that Axcelis Technologies will post 2.55 earnings per share for the current year.

Institutional Investors Weigh In On Axcelis Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd lifted its position in Axcelis Technologies by 45.0% in the third quarter. Bayforest Capital Ltd now owns 6,115 shares of the semiconductor company’s stock worth $597,000 after purchasing an additional 1,898 shares during the period. Salomon & Ludwin LLC acquired a new stake in Axcelis Technologies in the third quarter worth approximately $25,000. Allspring Global Investments Holdings LLC lifted its position in shares of Axcelis Technologies by 1,344.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 109,628 shares of the semiconductor company’s stock valued at $10,388,000 after acquiring an additional 102,040 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Axcelis Technologies during the 3rd quarter valued at $595,000. Finally, Eagle Bay Advisors LLC lifted its position in shares of Axcelis Technologies by 53.6% during the 3rd quarter. Eagle Bay Advisors LLC now owns 11,495 shares of the semiconductor company’s stock valued at $1,122,000 after acquiring an additional 4,010 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

About Axcelis Technologies

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.