12 High Growth Low PE Stocks to Buy

9. Axcelis Technologies, Inc. (NASDAQ:ACLS)

5-Year Revenue CAGR: 25.84%

Number of Hedge Fund Holders: 29

Forward P/E as of January 29: 14.18

Axcelis Technologies, Inc. (NASDAQ:ACLS) is a semiconductor equipment & materials company that designs, manufactures, and services implantation and other processing equipment. The semiconductor company has faced significant headwinds over the past year amid supply chain issues and potential cooling in demand. Nevertheless, the company has remained resilient on the operational front, as depicted by its solid financial results.

For starters, it delivered solid third-quarter results with revenues of $257 million and earnings per share of $1.49 that beat analysts’ projections. The strong smartphone image sensor market was the main driver of this performance. However, the company reduced its 2024 backlog to $879 million after Q3 bookings of $84 million fell short of projections. Axcelis Technologies, Inc. (NASDAQ:ACLS) is optimistic about the memory and silicon carbide market growth, even though some industries have experienced a downturn.

Axcelis Technologies, Inc. (NASDAQ:ACLS) is optimistic about a cyclical recovery in the advanced logic and memory markets as well as continuous cash generation, notwithstanding potential obstacles in 2025. However, the company anticipates lower revenues in the first quarter of 2025 because of the softness in the power and mature sectors. These latest events imply that Axcelis is strategically concentrating on promising industries while managing market changes.