Shares of semiconductor equipment maker Axcelis Technologies (NASDAQ: ACLS) rallied 26.4% in June, according to data from S&P Global Market Intelligence.

While there were no financial releases from the company during the month, there were some potential green shoots regarding important end markets for Axcelis' customers, such as electric vehicles (EVs) and industrial chips. Additionally, the company announced a three-hour investor event for July that may have gotten investors excited.

Axcelis is a leader in ion implant equipment, in which a molecule is implanted into a silicon wafer in order to make chips with higher conductivity. The vast majority of Axcelis' equipment is used in trailing-edge nodes, including the growing silicon carbide market targeting EVs and industrial applications.

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Source Fool.com