Axcelis Technologies (NASDAQ:ACLS) Hits New 52-Week Low – Here’s Why

Axcelis Technologies, Inc. (NASDAQ:ACLS) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $80.72 and last traded at $81.15, with a volume of 103163 shares traded. The stock had previously closed at $82.73.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ACLS shares. B. Riley lowered their price objective on shares of Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Benchmark lowered Axcelis Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.33.

Axcelis Technologies Trading Down 3.4 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.29 and a current ratio of 4.45. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 2.56 and a beta of 1.60. The business has a fifty day simple moving average of $96.43 and a 200 day simple moving average of $113.25.

Institutional Investors Weigh In On Axcelis Technologies

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Axcelis Technologies by 6.5% during the first quarter. Vanguard Group Inc. now owns 4,304,516 shares of the semiconductor company’s stock worth $480,040,000 after buying an additional 263,604 shares in the last quarter. Reinhart Partners LLC. increased its stake in Axcelis Technologies by 64.1% in the third quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company’s stock valued at $72,096,000 after acquiring an additional 268,560 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Axcelis Technologies by 12.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 510,894 shares of the semiconductor company’s stock worth $53,568,000 after buying an additional 55,048 shares in the last quarter. Boston Trust Walden Corp bought a new position in shares of Axcelis Technologies in the third quarter worth about $53,099,000. Finally, American Century Companies Inc. increased its position in Axcelis Technologies by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 385,181 shares of the semiconductor company’s stock worth $54,769,000 after purchasing an additional 38,827 shares in the last quarter. 89.98% 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 in the United States, Europe, and Asia Pacific. The company offers high energy, high current, and medium current implanters for various application requirements.