Convergence Investment Partners LLC Takes $1.11 Million Position in Axcelis Technologies Inc (ACLS)

Convergence Investment Partners LLC acquired a new stake in Axcelis Technologies Inc (NASDAQ:ACLS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 38,800 shares of the semiconductor company’s stock, valued at approximately $1,114,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACLS. Peregrine Capital Management LLC boosted its holdings in Axcelis Technologies by 45.0% in the 3rd quarter. Peregrine Capital Management LLC now owns 830,397 shares of the semiconductor company’s stock valued at $22,711,000 after purchasing an additional 257,541 shares during the period. SG Capital Management LLC acquired a new position in shares of Axcelis Technologies in the 3rd quarter valued at approximately $6,192,000. PDT Partners LLC raised its position in shares of Axcelis Technologies by 159.3% in the 2nd quarter. PDT Partners LLC now owns 176,305 shares of the semiconductor company’s stock valued at $3,694,000 after buying an additional 108,305 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Axcelis Technologies in the 3rd quarter valued at approximately $2,538,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Axcelis Technologies by 146.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 153,103 shares of the semiconductor company’s stock valued at $4,188,000 after buying an additional 91,003 shares in the last quarter. 77.95% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently commented on ACLS. Zacks Investment Research upgraded shares of Axcelis Technologies from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, November 2nd. Craig Hallum cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. B. Riley restated a “buy” rating and issued a $39.00 target price on shares of Axcelis Technologies in a research report on Tuesday, December 5th. ValuEngine cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, BidaskClub cut shares of Axcelis Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.17.

In related news, VP Lynnette C. Fallon sold 56,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $32.92, for a total transaction of $1,851,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was 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. Over the last quarter, insiders have sold 190,190 shares of company stock valued at $6,334,389. 5.66% of the stock is owned by corporate insiders.

Axcelis Technologies Inc (ACLS) opened at $26.00 on Friday. The company has a market cap of $794.75, a P/E ratio of 22.39, a PEG ratio of 0.70 and a beta of 1.10. Axcelis Technologies Inc has a 12-month low of $14.60 and a 12-month high of $37.05.

Axcelis Technologies (NASDAQ:ACLS) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. Axcelis Technologies had a net margin of 10.80% and a return on equity of 16.37%. equities research analysts forecast that Axcelis Technologies Inc will post 1.44 EPS for the current year.

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Axcelis Technologies Profile

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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Institutional Ownership by Quarter for Axcelis Technologies (NASDAQ:ACLS)

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