5 Best Small-Cap Semiconductor Stocks to Buy Now

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

Market Cap as of September 22: $1.93 billion

Axcelis Technologies, Inc. (NASDAQ:ACLS) is an American semiconductor equipment and materials company. It produces ion implantation and other processing equipment, including curing systems used to fabricate semiconductor chips.

The most significant chunk of revenue for Axcelis Technologies, Inc. (NASDAQ:ACLS) comes from the ion implantation segment at 97%. The total addressable market for ion implantation has more than doubled to $2.25 billion in the last three years. In addition, the company has announced its new  Axcelis Asia Operations Center to increase the production of ion implantation systems. The new 44,000 square feet facility is set to expand Axcelis Technologies, Inc. (NASDAQ:ACLS)’s market to South Korea and the rest of Asia.

On August 4, Stifel analyst Patrick Ho maintained a Buy rating on Axcelis Technologies, Inc. (NASDAQ:ACLS) and raised his price target to $93 from $89. The analyst mentioned that he became more “encouraged” on the company’s near-term prospects and position heading into 2023 after the company’s Q2 conference call.

You can also take a look at Best Cloud Stocks To Buy and 16 Best Penny Stocks to Buy Now.

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