35 Chip Stocks In Focus Amid Tech Selloff

Page 8 of 35

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

Number of Hedge Fund Holders: 29  

Axcelis Technologies, Inc. (NASDAQ:ACLS) markets ion implantation and other processing equipment used for the fabrication of semiconductor chips. In the earnings for the third quarter of 2024, the company reported revenue of $256.6 million, compared to $256.5 million for the second quarter of 2024, indicating a stable top-line performance with a marginal increase. The company’s Purion Power Series is already attracting investor interest due to its highly differentiated features and process control. Ion implantation is one of the most critical steps in the manufacturing of Silicon Carbide devices, a market which is estimated by Yole to grow at a 25% CAGR from 2023 – 2029.

Page 8 of 35