Granite Investment Partners LLC Buys New Position in Axcelis Technologies, Inc. (NASDAQ:ACLS)

Granite Investment Partners LLC purchased a new stake in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 195,521 shares of the semiconductor company’s stock, valued at approximately $27,801,000. Axcelis Technologies comprises 1.2% of Granite Investment Partners LLC’s portfolio, making the stock its 18th largest position. Granite Investment Partners LLC owned about 0.60% of Axcelis Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Homestead Advisers Corp bought a new position in Axcelis Technologies during the first quarter valued at approximately $1,227,000. Rafferty Asset Management LLC grew its position in Axcelis Technologies by 14.8% during the fourth quarter. Rafferty Asset Management LLC now owns 203,622 shares of the semiconductor company’s stock valued at $26,408,000 after acquiring an additional 26,228 shares during the last quarter. SG Americas Securities LLC bought a new position in Axcelis Technologies during the first quarter valued at approximately $791,000. Annex Advisory Services LLC grew its position in Axcelis Technologies by 964.1% during the fourth quarter. Annex Advisory Services LLC now owns 51,608 shares of the semiconductor company’s stock valued at $6,693,000 after acquiring an additional 46,758 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Axcelis Technologies by 309.0% during the second quarter. Harbor Capital Advisors Inc. now owns 17,549 shares of the semiconductor company’s stock valued at $2,495,000 after acquiring an additional 13,258 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors.

Insider Transactions at Axcelis Technologies

In other news, Director Jorge Titinger sold 6,086 shares of Axcelis Technologies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $109.98, for a total value of $669,338.28. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $647,892.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.43% of the stock is owned by insiders.

Axcelis Technologies Stock Performance

Shares of Axcelis Technologies stock opened at $102.23 on Friday. The company has a current ratio of 4.42, a quick ratio of 3.26 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.33 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.06 and a beta of 1.58. The business has a fifty day simple moving average of $114.10 and a two-hundred day simple moving average of $116.36. Axcelis Technologies, Inc. has a 12 month low of $93.77 and a 12 month high of $170.97.

Axcelis Technologies (NASDAQ:ACLS) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.37 by $0.18. The business had revenue of $256.51 million during the quarter, compared to analyst estimates of $250.06 million. Axcelis Technologies had a return on equity of 27.35% and a net margin of 21.54%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 earnings per share. On average, equities analysts forecast that Axcelis Technologies, Inc. will post 6.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACLS. DA Davidson increased their price target on shares of Axcelis Technologies from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 15th. B. Riley cut their target price on shares of Axcelis Technologies from $190.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Axcelis Technologies in a report on Friday, August 2nd. Bank of America raised their target price on shares of Axcelis Technologies from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Benchmark cut their price target on shares of Axcelis Technologies from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.33.

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.