13 High Growth Semiconductor Stocks That Are Profitable in 2024

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

TTM P/E Ratio: 15.22

3-Yr. Average Revenue Growth rate: 33.56%

Number of Q4 2023 Hedge Fund Shareholders: 28

Axcelis Technologies, Inc. (NASDAQ:ACLS) is a midsized semiconductor equipment manufacturing company. The firm scored an important win in April, when its high energy doping machine used in chip making was shipped to a Japanese client. Axcelis Technologies, Inc. (NASDAQ:ACLS)’s first quarter earnings saw it report flat annual revenue growth but a 10% diluted EPS growth as well as beefier margins over the preceding quarter.

Among the hedge funds tracked by Insider Monkey, 28 held stakes in Axcelis Technologies, Inc. (NASDAQ:ACLS) as of the end of December 2023. Among these, one of the biggest stakeholders was Israel Englader’s Millennium Management with a $66.1 million stake.

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