New York State Common Retirement Fund Cuts Stock Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

New York State Common Retirement Fund reduced its position in Axcelis Technologies, Inc. (NASDAQ:ACLS) by 14.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,058 shares of the semiconductor company’s stock after selling 4,194 shares during the quarter. New York State Common Retirement Fund’s holdings in Axcelis Technologies were worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACLS. Senvest Management LLC boosted its holdings in shares of Axcelis Technologies by 78.1% in the 2nd quarter. Senvest Management LLC now owns 1,747,521 shares of the semiconductor company’s stock worth $70,635,000 after purchasing an additional 766,242 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Axcelis Technologies in the 2nd quarter worth about $5,186,000. Morgan Stanley boosted its holdings in shares of Axcelis Technologies by 68.4% in the 2nd quarter. Morgan Stanley now owns 285,431 shares of the semiconductor company’s stock worth $11,536,000 after purchasing an additional 115,899 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Axcelis Technologies by 46.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 342,255 shares of the semiconductor company’s stock valued at $16,096,000 after acquiring an additional 108,347 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Axcelis Technologies by 15.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 668,106 shares of the semiconductor company’s stock valued at $27,005,000 after acquiring an additional 89,816 shares during the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.

ACLS opened at $71.39 on Friday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 31.45 and a beta of 1.52. The company has a current ratio of 4.16, a quick ratio of 2.72 and a debt-to-equity ratio of 0.09. Axcelis Technologies, Inc. has a 12 month low of $33.36 and a 12 month high of $77.60. The stock has a fifty day moving average price of $66.21 and a 200-day moving average price of $52.69.

Axcelis Technologies (NASDAQ:ACLS) last released its quarterly earnings results on Wednesday, November 3rd. The semiconductor company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.11. Axcelis Technologies had a return on equity of 14.95% and a net margin of 13.40%. The firm had revenue of $176.69 million during the quarter, compared to analyst estimates of $170.20 million. During the same period in the previous year, the company posted $0.32 EPS. On average, equities research analysts forecast that Axcelis Technologies, Inc. will post 2.67 EPS for the current year.

A number of equities research analysts have recently weighed in on ACLS shares. B. Riley boosted their target price on Axcelis Technologies from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, December 6th. Craig Hallum lifted their target price on Axcelis Technologies from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, December 10th. The company introduced two new target business models at its analyst day for ~$850M and $1B in annual revenue, which are targeted to drive EPS of ~$4.25 and ~$5.60 respectively, Schwab tells investors in a research note. Schwab remains very encouraged by the company’s newly outlined target models for multiyear growth and material earnings leverage to targeted EPS levels more than double 2021 expectations at the company’s $1B target model. Needham & Company LLC lifted their price objective on Axcelis Technologies from $64.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, December 10th. The analyst cites the company’s investor day presentation that featured an update on its business and introduced two new target models, raising its near-term revenue guidance outlook to $850. Bolton adds that the strong growth in the implant-intensive mature market segment and overall WFE growth have increased the ion implant total addressable market to about $2B. Stifel Nicolaus lifted their target price on Axcelis Technologies from $52.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, November 4th. Finally, Zacks Investment Research upgraded Axcelis Technologies from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, November 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $74.60.

In related news, CEO Mary G. Puma sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 11th. The stock was sold at an average price of $62.06, for a total transaction of $62,060.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Douglas A. Lawson sold 1,217 shares of the company’s stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $62.41, for a total value of $75,952.97. The disclosure for this sale can be found here. Insiders have sold a total of 15,043 shares of company stock worth $964,956 over the last ninety days. 2.11% of the stock is currently owned by corporate insiders.

Axcelis Technologies Company Profile

Axcelis Technologies, Inc engages in the manufacture of capital equipment for the semiconductor chip manufacturing industry. It ion implantation systems product line includes high current, medium current, and high energy implanters. It also offers post-sales equipment service and support, such as spare parts, equipment upgrades, used equipment, maintenance services, and customer training.

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Institutional Ownership by Quarter for Axcelis Technologies (NASDAQ:ACLS)

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