Axcelis Technologies (NASDAQ:ACLS) Hits New 1-Year Low - What's Next?

Axcelis Technologies, Inc. (NASDAQ:ACLS) has marked a significant milestone by reaching a new 52-week low during trading on Thursday. The stock dipped to a low of $55.93 and concluded trading at $55.73, with a total volume of 526,063 shares exchanged. This is a notable drop from the previous closing price of $59.91.

Analysts have been revisiting their ratings for Axcelis Technologies given this recent downturn. On November 8th, Benchmark adjusted their position by lowering their rating from "buy" to "hold." Meanwhile, Needham & Company LLC reiterated a "hold" rating on the firm’s shares in a report published on February 12th. Another firm, Craig Hallum, lowered its price target for the stock from $115.00 to $105.00 but maintained a "buy" rating. Similarly, William Blair also downgraded Axcelis Technologies from "outperform" to "market perform" in their analysis on February 12th. Presently, four analysts rating the stock have given it a hold recommendation, while three have issued a buy rating, leading to a consensus rating of "Hold" with a target price averaging $154.00 according to MarketBeat data.

A Closer Look at Trading Trends

Currently, Axcelis Technologies is experiencing a decline of approximately 8.2%. The company has a 50-day simple moving average of $68.11 and a longer-term 200-day average of $84.25. With a market capitalization of $1.79 billion, the firm exhibits a P/E ratio of 8.94 and a P/E/G ratio of 4.52. Furthermore, it holds a beta value of 1.52, indicating a higher volatility relative to the market. The balance sheet shows a debt-to-equity ratio of 0.04, while its quick ratio is at 4.05 and the current ratio stands at 5.41.

On February 10th, Axcelis Technologies released its latest earnings results, reporting earnings per share (EPS) of $1.54 for the quarter, surpassing analyst expectations that estimated $1.25 by $0.29. The company showcased a net profit margin of 19.75% and a return on equity (ROE) of 21.02%. Analysts project that Axcelis Technologies will achieve an EPS of 2.55 for the current fiscal year.

Institutional Trading Overview

In recent trading activity, several hedge funds have adjusted their stakes in Axcelis Technologies. For example, Signaturefd LLC significantly increased its position by 90.6% during the fourth quarter, bringing their total shares to 364, valued at $25,000 after purchasing an additional 173 shares. Similarly, Avior Wealth Management LLC raised its stake by an impressive 1,153.8%, owning now 489 shares, valued at $34,000 after acquiring another 450 shares. Capital Advisors Ltd. LLC expanded its holdings by 1,415.2% in the fourth quarter, owning 500 shares worth $35,000 after buying an additional 467 shares. Other investors, such as Blue Trust Inc. and Truvestments Capital LLC, also increased their stakes significantly in this period. As it stands, institutional investors hold about 89.98% of Axcelis Technologies stock.

Understanding Axcelis Technologies

Axcelis Technologies, Inc. specializes in designing, manufacturing, and servicing ion implantation and other processing equipment utilized in the production of semiconductor chips across the United States, Europe, and the Asia Pacific. The company provides various types of implanters, catering to high energy, high current, and medium current application needs.

Should You Consider Investing Now?

This situation raises the question of whether potential investors should consider purchasing Axcelis Technologies shares at this time. Despite analysts placing a Hold rating on the firm, there are alternative recommendations that might be of interest. It is wise for investors to explore other stocks as well, which have garnered enthusiasm from experts in the field.

Axcelis, Technologies, Stocks