Axcelis Technologies (NASDAQ: ACLS) This Industry's Smallest Player Has the Biggest Potential Upside

When chip equipment maker Applied Materials (NASDAQ: AMAT) surpassed $10 billion in annual revenue for the first time in fiscal 2011, its competitors could only sigh. The company's industry leadership was never in doubt, but a series of acquisitions gave it such a broad suite of offerings that rivals wondered if they could ever take market share again.

AMAT's massive market presence eventually led its two biggest rivals, Lam Research (NASDAQ: LRCX) and Novellus Systems to join forces in 2011, but even that combined entity has yet to crack the $5 billion annual revenue barrier. KLA-Tencor (NASDAQ: KLAC) is also in AMAT's rearview mirror, with only $3 billion in annual sales. And a handful of smaller companies bring up the rear, none of which have even $1 billion in annual revenue. (Note: Only U.S. companies have been considered here.)

Lost in the crowd is little-known Axcelis Technologies (NASDAQ: ACLS), which had $400 million to $500 million in annual sales a decade ago, but has slumped badly in recent years, with sales falling to just $200 million in 2012. (more)

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