Truvestments Capital LLC Lowers Holdings in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Truvestments Capital LLC lowered its holdings in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 50.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,478 shares of the semiconductor company’s stock after selling 1,497 shares during the quarter. Truvestments Capital LLC’s holdings in Axcelis Technologies were worth $165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its holdings in Axcelis Technologies by 20.0% during the 1st quarter. Gabelli Funds LLC now owns 2,400 shares of the semiconductor company’s stock valued at $268,000 after buying an additional 400 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Axcelis Technologies by 17.5% during the first quarter. Advisors Asset Management Inc. now owns 670 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 100 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Axcelis Technologies by 54.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,963 shares of the semiconductor company’s stock valued at $330,000 after acquiring an additional 1,050 shares during the last quarter. Pitcairn Co. lifted its stake in Axcelis Technologies by 5.1% in the 1st quarter. Pitcairn Co. now owns 5,301 shares of the semiconductor company’s stock worth $591,000 after purchasing an additional 259 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in shares of Axcelis Technologies during the 1st quarter valued at about $719,000. Institutional investors own 89.98% of the company’s stock.

Axcelis Technologies Stock Up 2.8 %

Shares of ACLS stock traded up $3.31 during mid-day trading on Friday, hitting $123.55. The stock had a trading volume of 593,539 shares, compared to its average volume of 635,912. Axcelis Technologies, Inc. has a 12-month low of $93.77 and a 12-month high of $201.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.00 and a quick ratio of 2.87. The firm’s 50-day moving average is $131.54 and its two-hundred day moving average is $120.21. The firm has a market capitalization of $4.02 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.60.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $242.55 million. On average, analysts predict that Axcelis Technologies, Inc. will post 6.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axcelis Technologies 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 sale, the director now owns 33,146 shares of the company’s stock, valued at approximately $3,792,565.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ACLS has been the topic of several research reports. DA Davidson lifted their target price on Axcelis Technologies from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Friday, July 12th. Craig Hallum boosted their target price on shares of Axcelis Technologies from $130.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, July 12th. 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, July 10th. Finally, Benchmark boosted their price objective on shares of Axcelis Technologies from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.33.

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.