Meritage Portfolio Management Purchases 242 Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS)

Meritage Portfolio Management grew its position in shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,559 shares of the semiconductor company’s stock after purchasing an additional 242 shares during the period. Meritage Portfolio Management’s holdings in Axcelis Technologies were worth $591,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of Axcelis Technologies by 17.1% in the 3rd quarter. Invesco Ltd. now owns 970,409 shares of the semiconductor company’s stock valued at $158,225,000 after acquiring an additional 141,372 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Axcelis Technologies by 11.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 447,869 shares of the semiconductor company’s stock valued at $73,036,000 after acquiring an additional 47,133 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Axcelis Technologies by 32.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 413,478 shares of the semiconductor company’s stock valued at $67,418,000 after acquiring an additional 101,944 shares during the last quarter. Northern Trust Corp raised its position in Axcelis Technologies by 2.0% during the 3rd quarter. Northern Trust Corp now owns 392,377 shares of the semiconductor company’s stock valued at $63,977,000 after purchasing an additional 7,595 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Axcelis Technologies during the 3rd quarter valued at approximately $40,425,000. Institutional investors own 89.98% of the company’s stock.

Insider Activity at Axcelis Technologies

In related news, EVP Douglas A. Lawson bought 500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $111.04 per share, with a total value of $55,520.00. Following the acquisition, the executive vice president now owns 19,648 shares in the company, valued at $2,181,713.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on ACLS. B. Riley Financial lowered their price target on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 9th. B. Riley lowered their price target on Axcelis Technologies from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Axcelis Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.00.

Axcelis Technologies Stock Up 3.6 %

Shares of Axcelis Technologies stock traded up $3.55 during midday trading on Friday, hitting $103.55. The company had a trading volume of 244,779 shares, compared to its average volume of 664,525. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.71 and a current ratio of 3.79. The stock has a market capitalization of $3.38 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.06 and a beta of 1.63. The company has a 50 day moving average of $108.69 and a 200 day moving average of $123.94. Axcelis Technologies, Inc. has a 52-week low of $93.77 and a 52-week high of $201.00.

Axcelis Technologies (NASDAQ:ACLS) last posted its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.17. The company had revenue of $310.29 million for the quarter, compared to the consensus estimate of $297.92 million. Axcelis Technologies had a return on equity of 31.66% and a net margin of 21.78%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 EPS. On average, equities analysts predict that Axcelis Technologies, Inc. will post 6.88 earnings per share for the current fiscal year.

Axcelis Technologies Profile

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.