Axcelis Technologies, Inc. (NASDAQ:ACLS) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 25.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,324 shares of the semiconductor company’s stock after selling 1,470 shares during the quarter. Pitcairn Co.’s holdings in Axcelis Technologies were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp purchased a new stake in Axcelis Technologies in the third quarter valued at $53,099,000. Reinhart Partners LLC. lifted its holdings in shares of Axcelis Technologies by 64.1% in the 3rd quarter. Reinhart Partners LLC. now owns 687,608 shares of the semiconductor company’s stock valued at $72,096,000 after purchasing an additional 268,560 shares during the last quarter. Granite Investment Partners LLC purchased a new position in Axcelis Technologies during the 2nd quarter worth approximately $27,801,000. Boston Partners purchased a new position in Axcelis Technologies during the 1st quarter worth approximately $20,819,000. Finally, Royce & Associates LP increased its position in Axcelis Technologies by 157.1% during the third quarter. Royce & Associates LP now owns 273,671 shares of the semiconductor company’s stock worth $28,694,000 after buying an additional 167,235 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACLS. Needham & Company LLC reissued a “hold” rating on shares of Axcelis Technologies in a report on Friday, November 8th. Benchmark downgraded shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, B. Riley reduced their target price on shares of Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.33.

Axcelis Technologies Price Performance

Shares of NASDAQ:ACLS opened at $74.45 on Wednesday. The business’s 50 day simple moving average is $91.06 and its 200-day simple moving average is $110.67. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. Axcelis Technologies, Inc. has a 12 month low of $69.35 and a 12 month high of $158.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.45 and a quick ratio of 3.29.

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.