Gallacher Capital Management LLC Trims Stake in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Gallacher Capital Management LLC lessened its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 8.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,340 shares of the semiconductor company’s stock after selling 297 shares during the period. Gallacher Capital Management LLC’s holdings in Axcelis Technologies were worth $372,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Comerica Bank purchased a new position in shares of Axcelis Technologies during the third quarter valued at about $12,258,000. Neo Ivy Capital Management purchased a new stake in shares of Axcelis Technologies during the 3rd quarter worth approximately $480,000. American Century Companies Inc. boosted its position in shares of Axcelis Technologies by 17.3% during the 3rd quarter. American Century Companies Inc. now owns 156,026 shares of the semiconductor company’s stock valued at $25,440,000 after acquiring an additional 23,044 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Axcelis Technologies in the fourth quarter valued at $339,000. Finally, Nordea Investment Management AB increased its position in Axcelis Technologies by 15.0% in the fourth quarter. Nordea Investment Management AB now owns 2,206 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 287 shares during the last quarter. Institutional investors own 89.98% of the company’s stock.

Insider Activity

In other news, Director John T. Kurtzweil sold 1,200 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $114.42, for a total transaction of $137,304.00. Following the completion of the transaction, the director now directly owns 33,146 shares in the company, valued at approximately $3,792,565.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACLS. Craig Hallum increased their price target on shares of Axcelis Technologies from $130.00 to $174.00 and gave the company a “buy” rating in a report on Friday. Bank of America lifted their target price on Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday. B. Riley increased their target price on shares of Axcelis Technologies from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Benchmark dropped their price target on shares of Axcelis Technologies from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research note on Friday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.80.

Axcelis Technologies Stock Performance

Shares of NASDAQ:ACLS traded up $7.35 during trading on Friday, hitting $151.92. The stock had a trading volume of 289,217 shares, compared to its average volume of 617,516. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.94 and a beta of 1.60. The stock has a 50-day simple moving average of $126.64 and a two-hundred day simple moving average of $119.60. Axcelis Technologies, Inc. has a 12-month low of $93.77 and a 12-month high of $201.00. The company has a quick ratio of 2.87, a current ratio of 4.00 and a debt-to-equity ratio of 0.05.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.31. Axcelis Technologies had a net margin of 22.16% and a return on equity of 30.22%. The company had revenue of $252.37 million during the quarter, compared to analysts’ expectations of $242.55 million. On average, equities research analysts expect that Axcelis Technologies, Inc. will post 6.48 earnings per share for the current fiscal year.

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.