10 Most Oversold Semiconductor Stocks in 2024

3. Axcelis Technologies Inc. (NASDAQ:ACLS)

Share price return in 2024: -44%

Number of Hedge Fund Holders: 27

Axcelis Technologies, Inc. (NASDAQ:ACLS) specializes in designing, manufacturing, and servicing ion implantation systems used in semiconductor chip fabrication.

With the semiconductor industry’s ongoing transition towards advanced node fabrication and the rising demand for cutting-edge chips, Axcelis Technologies Inc. (NASDAQ:ACLS) is poised to benefit from increased investment in semiconductor manufacturing. The company’s leadership in providing innovative equipment for the industry’s most advanced chips, especially in high-growth sectors like artificial intelligence, 5G, and automotive, positions it well for future growth.

However, in 2024, the semiconductor industry faced a weaker phase due to customer inventory indigestion, which also affected Axcelis Technologies Inc. (NASDAQ:ACLS) as a supplier. While the stock performed well in the first half of 2024, it consistently declined in the second half, losing 44% of its value over the full year.

The stock continued to weaken, declining by around 9% in 2025 as well. The company recently projected that new interim final rules from the U.S. Department of Commerce Bureau of Industry and Security (BIS) regarding semiconductor equipment exports to China could potentially reduce its total annual revenue by $20 million to $50 million in 2025. Despite this near-term headwind, Axcelis Technologies Inc. (NASDAQ:ACLS) has robust growth drivers to support its long-term trajectory.