2024-04-16 07:37:04 ET
Summary
- Axcelis dominates the Ion Implanter for Power Devices segment with 70-80% share.
- Negative revisions, China and EV exposure caused the multiple to compress since Aug-23, in contracts to the rest.
- With an Investor Day in July, a solid moat, secular tailwinds, and an attractive valuation, I see more upside than downside at these levels.
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Axcelis: A Cheap Beneficiary Of Electrification