Axcelis Technologies (ACLS) Receives Buy Rating from B. Riley

B. Riley reaffirmed their buy rating on shares of Axcelis Technologies (NASDAQ:ACLS) in a report published on Tuesday morning. B. Riley currently has a $39.00 price target on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on ACLS. ValuEngine cut shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Friday, September 22nd. Stifel Nicolaus boosted their price objective on shares of Axcelis Technologies from $20.00 to $31.00 and gave the company a hold rating in a research report on Wednesday, November 1st. Craig Hallum cut shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Friday, November 3rd. Finally, Benchmark reaffirmed a buy rating and issued a $28.00 price objective (up from $24.00) on shares of Axcelis Technologies in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $31.33.

Shares of Axcelis Technologies (ACLS) traded up $0.15 during midday trading on Tuesday, hitting $29.30. 660,700 shares of the stock were exchanged, compared to its average volume of 441,456. The company has a market capitalization of $915.69, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. Axcelis Technologies has a 52 week low of $13.00 and a 52 week high of $37.05.

In other Axcelis Technologies news, CFO Kevin J. Brewer sold 62,348 shares of Axcelis Technologies stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $22.46, for a total value of $1,400,336.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John E. Aldeborgh sold 87,500 shares of Axcelis Technologies stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $33.22, for a total transaction of $2,906,750.00. The disclosure for this sale can be found here. Insiders sold a total of 265,038 shares of company stock worth $8,016,850 over the last ninety days. 5.66% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ACLS. Peregrine Capital Management LLC increased its stake in shares of Axcelis Technologies by 45.0% during the 3rd quarter. Peregrine Capital Management LLC now owns 830,397 shares of the semiconductor company’s stock worth $22,711,000 after purchasing an additional 257,541 shares during the last quarter. SG Capital Management LLC acquired a new position in shares of Axcelis Technologies during the 3rd quarter worth about $6,192,000. Russell Investments Group Ltd. increased its stake in shares of Axcelis Technologies by 247.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 161,665 shares of the semiconductor company’s stock worth $3,386,000 after purchasing an additional 115,111 shares during the last quarter. PDT Partners LLC increased its stake in shares of Axcelis Technologies by 159.3% during the 2nd quarter. PDT Partners LLC now owns 176,305 shares of the semiconductor company’s stock worth $3,694,000 after purchasing an additional 108,305 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of Axcelis Technologies during the 3rd quarter worth about $2,538,000. Institutional investors own 78.14% of the company’s stock.

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About Axcelis Technologies

Axcelis Technologies, Inc designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. The Company also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services and customer training.

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