Is it smart to be bullish on Axcelis Technologies Inc (NASDAQ:ACLS)?
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Furthermore, let’s analyze the latest info for Axcelis Technologies Inc (NASDAQ:ACLS).
What does the smart money think about Axcelis Technologies Inc (NASDAQ:ACLS)?
At the end of the second quarter, a total of 11 of the hedge funds we track were long in this stock, a change of 22% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were upping their holdings considerably.
Out of the hedge funds we follow, Diker Management, managed by Mark N. Diker, holds the most valuable position in Axcelis Technologies Inc (NASDAQ:ACLS). Diker Management has a $8.6 million position in the stock, comprising 2.7% of its 13F portfolio. The second largest stake is held by Chuck Royce of Royce & Associates, with a $2.9 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedgies with similar optimism include David Cohen and Harold Levy’s Iridian Asset Management, David Moradi’s Anthion Management and Israel Englander’s Millennium Management.
As industrywide interest increased, certain bigger names were leading the bulls’ herd. Diker Management, managed by Mark N. Diker, initiated the most valuable position in Axcelis Technologies Inc (NASDAQ:ACLS). Diker Management had 8.6 million invested in the company at the end of the quarter. Chuck Royce’s Royce & Associates also made a $2.9 million investment in the stock during the quarter. The other funds with new positions in the stock are David Cohen and Harold Levy’s Iridian Asset Management, David Moradi’s Anthion Management, and Israel Englander’s Millennium Management.
How have insiders been trading Axcelis Technologies Inc (NASDAQ:ACLS)?
Legal insider trading, particularly when it’s bullish, is best served when the company we’re looking at has experienced transactions within the past six months. Over the latest half-year time frame, Axcelis Technologies Inc (NASDAQ:ACLS) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Axcelis Technologies Inc (NASDAQ:ACLS). These stocks are Mattson Technology, Inc. (NASDAQ:MTSN), eMagin Corporation (NYSEAMEX:EMAN), Cascade Microtech, Inc. (NASDAQ:CSCD), Oclaro, Inc. (NASDAQ:OCLR), and Mindspeed Technologies, Inc. (NASDAQ:MSPD). This group of stocks belong to the semiconductor equipment & materials industry and their market caps resemble ACLS’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Mattson Technology, Inc. (NASDAQ:MTSN) | 9 | 0 | 0 |
| eMagin Corporation (NYSEAMEX:EMAN) | 3 | 0 | 0 |
| Cascade Microtech, Inc. (NASDAQ:CSCD) | 3 | 0 | 0 |
| Oclaro, Inc. (NASDAQ:OCLR) | 8 | 0 | 0 |
| Mindspeed Technologies, Inc. (NASDAQ:MSPD) | 6 | 0 | 0 |
Using the results demonstrated by Insider Monkey’s analyses, regular investors should always watch hedge fund and insider trading sentiment, and Axcelis Technologies Inc (NASDAQ:ACLS) applies perfectly to this mantra.
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Here is What Hedge Funds Think About Axcelis Technologies Inc (ACLS)
