Twinbeech Capital LP Makes New Investment in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Twinbeech Capital LP purchased a new position in Axcelis Technologies, Inc. (NASDAQ:ACLS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,844 shares of the semiconductor company’s stock, valued at approximately $269,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Axcelis Technologies by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 4,396,134 shares of the semiconductor company’s stock worth $307,158,000 after acquiring an additional 106,203 shares during the period. American Century Companies Inc. raised its position in Axcelis Technologies by 37.8% in the fourth quarter. American Century Companies Inc. now owns 1,060,096 shares of the semiconductor company’s stock worth $74,069,000 after acquiring an additional 290,678 shares during the period. Geode Capital Management LLC raised its position in Axcelis Technologies by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 897,750 shares of the semiconductor company’s stock worth $62,738,000 after acquiring an additional 23,234 shares during the period. Boston Trust Walden Corp raised its position in shares of Axcelis Technologies by 61.9% during the 4th quarter. Boston Trust Walden Corp now owns 820,116 shares of the semiconductor company’s stock valued at $57,302,000 after purchasing an additional 313,689 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Axcelis Technologies by 78,037.4% during the 4th quarter. Pacer Advisors Inc. now owns 782,155 shares of the semiconductor company’s stock valued at $54,649,000 after purchasing an additional 781,154 shares during the period. 89.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Axcelis Technologies news, Director John T. Kurtzweil sold 1,682 shares of Axcelis Technologies stock in a transaction on Tuesday, May 20th. The shares were 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 $2,170,646.50. This trade represents a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Axcelis Technologies Stock Performance

Shares of NASDAQ:ACLS opened at $58.32 on Friday. Axcelis Technologies, Inc. has a 52 week low of $40.40 and a 52 week high of $158.61. The stock has a market capitalization of $1.87 billion, a P/E ratio of 9.48, a PEG ratio of 4.52 and a beta of 1.52. The firm has a fifty day simple moving average of $52.12 and a two-hundred day simple moving average of $63.40. The company has a quick ratio of 4.05, a current ratio of 5.41 and a debt-to-equity ratio of 0.04.

Axcelis Technologies (NASDAQ:ACLS) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.65. Axcelis Technologies had a net margin of 19.75% and a return on equity of 21.02%. The business had revenue of $192.56 million during the quarter, compared to analysts’ expectations of $184.86 million. During the same period last year, the company posted $1.57 EPS. The business’s revenue was down 23.7% on a year-over-year basis. On average, analysts expect that Axcelis Technologies, Inc. will post 2.55 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a research report on Wednesday, February 12th. B. Riley reiterated a “neutral” rating and issued a $50.00 price target (down from $80.00) on shares of Axcelis Technologies in a report on Monday, April 21st. Finally, William Blair downgraded shares of Axcelis Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $131.00.

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.