Axcelis Technologies (NASDAQ:ACLS) Hits New 1-Year Low – Here’s Why

Axcelis Technologies, Inc. (NASDAQ:ACLS) hit a new 52-week low during trading on Monday . The company traded as low as $64.52 and last traded at $64.74, with a volume of 47506 shares trading hands. The stock had previously closed at $68.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Craig Hallum cut their price target on Axcelis Technologies from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Needham & Company LLC reiterated a “hold” rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Finally, Benchmark lowered shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.83.

Axcelis Technologies Price Performance

The business’s 50-day moving average price is $72.14 and its 200 day moving average price is $90.69. The company has a market capitalization of $2.15 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 2.48 and a beta of 1.52. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Avior Wealth Management LLC raised its position in shares of Axcelis Technologies by 1,153.8% in the fourth quarter. Avior Wealth Management LLC now owns 489 shares of the semiconductor company’s stock worth $34,000 after buying an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Axcelis Technologies by 1,415.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 500 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 467 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Axcelis Technologies by 85.5% during the 4th quarter. Blue Trust Inc. now owns 627 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 289 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Axcelis Technologies during the third quarter worth about $69,000. Finally, Palouse Capital Management Inc. bought a new position in shares of Axcelis Technologies in the fourth quarter worth approximately $79,000. 89.98% of the stock is owned by institutional investors.

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.