1 Semiconductor Stock to Buy Right Now

It's not a name thrown around with the high-flying heavyweights of the semiconductor industry, but Axcelis Technologies (NASDAQ: ACLS) provides equipment and services critical to those major producers. It has recently placed a particular focus on its Purion line of ion implanters specific to the chips used in the automotive industry, playing an important role in resolving the global supply shortage.

That bet is paying off. The company reported a strong second-quarter earnings result last week, which sent the stock almost 20% higher. Axcelis has positioned itself for growth for the years ahead as the industry continues to expand capacity to meet growing demand. Trading at just 2.3 times forecasted 2021 revenue, I think the stock is a bargain for long-term investors looking for some unique exposure to the semiconductor industry.

A lack of new vehicle supply has driven soaring prices in the used car market as consumers compromised their purchases. The frenzy links directly to the semiconductor shortage, as automotive manufacturers struggle to get their hands on the more advanced computer chips needed to power our increasingly intelligent cars

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Source Fool.com