The semiconductor industry has been red-hot over the last few years, and it isn't just Nvidia and Advanced Micro Devices delivering substantial gains for investors. The digital economy is forever expanding, and more products and services require advanced chip hardware, which is creating pockets of opportunity for a number of companies.

Axcelis Technologies (NASDAQ: ACLS) is one of them. Shares of the semiconductor service company have rocketed higher by more than 440% over the last five years, even after accounting for the recent 36% decline from its all-time high.

Axcelis just reported its financial results for the 2023 full year, and it delivered record sales and earnings. Investors were disappointed by the company's forward guidance, but its stock has now fallen so far that it's trading at an absolute bargain valuation. Here's why it might be time to buy.

Continue reading

Source Fool.com