Axcelis Technologies’ (NASDAQ:ACLS) Buy Rating Reiterated at B. Riley

B. Riley restated their buy rating on shares of Axcelis Technologies (NASDAQ:ACLS) in a research report sent to investors on Tuesday, December 5th. They currently have a $39.00 price target on the semiconductor company’s stock.

ACLS has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Axcelis Technologies from a buy rating to a hold rating in a research note on Thursday, September 14th. Craig Hallum cut shares of Axcelis Technologies from a buy rating to a hold rating in a research report on Friday, November 3rd. ValuEngine upgraded shares of Axcelis Technologies from a hold rating to a buy rating in a research report on Friday, September 1st. Stifel Nicolaus lifted their price target on shares of Axcelis Technologies from $20.00 to $31.00 and gave the stock a hold rating in a research report on Wednesday, November 1st. Finally, Benchmark reiterated a buy rating and set a $28.00 price target (up previously from $24.00) on shares of Axcelis Technologies in a research report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $31.33.

Shares of Axcelis Technologies (ACLS) traded down $0.35 during midday trading on Tuesday, hitting $28.60. 420,100 shares of the company’s stock were exchanged, compared to its average volume of 441,855. Axcelis Technologies has a one year low of $13.60 and a one year high of $37.05. The company has a market capitalization of $909.41, a P/E ratio of 25.62, a PEG ratio of 1.01 and a beta of 1.07.

In related news, CFO Kevin J. Brewer sold 44,640 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $33.93, for a total transaction of $1,514,635.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Kurtzweil sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $34.03, for a total transaction of $61,254.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,190 shares of company stock valued at $6,334,389. Corporate insiders own 5.66% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Axcelis Technologies by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 24,397 shares of the semiconductor company’s stock valued at $510,000 after buying an additional 660 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of Axcelis Technologies by 1.5% in the second quarter. TIAA CREF Investment Management LLC now owns 79,807 shares of the semiconductor company’s stock valued at $1,672,000 after buying an additional 1,147 shares during the period. New York State Common Retirement Fund lifted its position in shares of Axcelis Technologies by 4.7% in the second quarter. New York State Common Retirement Fund now owns 30,975 shares of the semiconductor company’s stock worth $649,000 after purchasing an additional 1,399 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Axcelis Technologies by 5.2% in the second quarter. Wells Fargo & Company MN now owns 28,572 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 1,416 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Axcelis Technologies by 8.1% in the third quarter. American International Group Inc. now owns 20,140 shares of the semiconductor company’s stock worth $551,000 after purchasing an additional 1,506 shares in the last quarter. 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.

Analyst Recommendations for Axcelis Technologies (NASDAQ:ACLS)

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