The semiconductor industry is incredibly diverse, and while investors' attention has been occupied by giants like Nvidia this year, they might be missing some great opportunities at the smaller end of the market.

Semiconductor service company Axcelis Technologies (NASDAQ: ACLS) is valued at just $4.2 billion. Yet, it has delivered strong revenue and earnings growth over the last 12 months while many other companies in the chip sector have suffered slowdowns due to tricky economic conditions.

Amid the broader sell-off in the technology sector since August, Axcelis stock has fallen 36% from its all-time high. But investors should consider buying the dip, especially at the current price, which looks like an absolute bargain by one key metric.

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Source Fool.com