Axcelis Technologies (NASDAQ:ACLS) Reaches New 52-Week Low – Here’s Why

Axcelis Technologies, Inc. (NASDAQ:ACLS) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $69.16 and last traded at $69.25, with a volume of 258885 shares traded. The stock had previously closed at $70.97.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ACLS shares. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a research report on Friday, November 8th. Benchmark lowered shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Axcelis Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $167.33.

Axcelis Technologies Stock Performance

The company has a market cap of $2.25 billion, a P/E ratio of 10.22, a PEG ratio of 2.36 and a beta of 1.53. The company has a quick ratio of 3.29, a current ratio of 4.45 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $82.48 and a 200-day moving average price of $106.47.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACLS. State Street Corp lifted its holdings in Axcelis Technologies by 1.5% in the 3rd quarter. State Street Corp now owns 1,233,282 shares of the semiconductor company’s stock valued at $129,310,000 after acquiring an additional 18,101 shares during the last quarter. Geode Capital Management LLC lifted its stake in Axcelis Technologies by 3.3% during the third quarter. Geode Capital Management LLC now owns 874,516 shares of the semiconductor company’s stock valued at $91,708,000 after purchasing an additional 28,141 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in Axcelis Technologies by 64.1% during the third quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company’s stock worth $72,096,000 after buying an additional 268,560 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Axcelis Technologies by 12.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 510,894 shares of the semiconductor company’s stock worth $53,568,000 after buying an additional 55,048 shares during the last quarter. Finally, Boston Trust Walden Corp bought a new position in shares of Axcelis Technologies in the third quarter valued at $53,099,000. Institutional investors own 89.98% of the company’s stock.

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.