Boston Partners Boosts Stake in Axcelis Technologies by 42.3%

Boston Partners has significantly increased its stake in Axcelis Technologies, Inc. (NASDAQ: ACLS), purchasing an additional 141,004 shares during the second quarter. This acquisition raised their holdings by an impressive 42.3%, bringing the total to 474,043 shares valued at approximately $33.6 million as of the end of June. This investment now represents 1.51% of the semiconductor company’s total shares.

A variety of other institutional investors have also made notable adjustments to their positions in Axcelis Technologies. CENTRAL TRUST Co experienced a remarkable 1,094.7% increase in its holdings, now owning 1,350 shares valued at $94,000 after adding 1,237 shares in the last quarter. Similarly, Vise Technologies Inc. and Profund Advisors LLC established new stakes worth $200,000 and $210,000, respectively.

Mitsubishi UFJ Asset Management Co. Ltd. expanded its position by 62.6%, acquiring an additional 21,000 shares, and now holds 54,521 shares worth $3.8 million. Parkside Financial Bank & Trust also increased its holdings by 48.5%, now owning 1,105 shares valued at $77,000. Collectively, institutional investors and hedge funds own approximately 89.98% of Axcelis Technologies’ stock.

Current Market Overview

As of the latest trading session, shares of Axcelis Technologies opened at $85.42. The company boasts a market capitalization of $2.65 billion, a price-to-earnings ratio of 17.47, and a beta of 1.75. Its financial metrics include a debt-to-equity ratio of 0.04, a quick ratio of 4.26, and a current ratio of 6.01. The 50-day moving average price stands at $86.68, while the 200-day moving average is $75.11. The stock has fluctuated between a 52-week low of $40.40 and a high of $102.93.

Analyst Ratings and Market Sentiment

Recent assessments from equity analysts provide varied perspectives on Axcelis Technologies’ stock. Weiss Ratings reaffirmed a “hold (c)” rating on October 8, 2023. Conversely, Benchmark upgraded its rating from “hold” to “buy” with a target price of $105.00 on October 2, 2023. B. Riley adjusted their price target from $85.00 to $84.00, maintaining a “neutral” rating as of November 5, 2023. DA Davidson increased its price objective from $90.00 to $110.00, also assigning a “buy” rating.

Zacks Research raised Axcelis Technologies from a “hold” rating to a “strong-buy” rating on November 6, 2023. Overall, one analyst has issued a “strong buy” rating, three analysts recommend “buy,” four analysts suggest “hold,” and one analyst has rated it as “sell.” According to MarketBeat.com, the stock currently holds an average rating of “hold” alongside a consensus price target of $98.80.

Axcelis Technologies, Inc. specializes in the design, manufacture, and servicing of ion implantation and other equipment used in semiconductor chip fabrication across the United States, Europe, and the Asia Pacific region. The company offers a range of implanters tailored to various application needs, further enhancing its market position.

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