VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Axcelis Technologies, Inc. vs Analog Devices, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Axcelis Technologies, Inc.

ACLS · Nasdaq Global Select Market

Market cap (USD)$4.4B
Gross margin (TTM)44.9%
Operating margin (TTM)14.2%
Net margin (TTM)14.3%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2026-04-25
Moat score
64/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Axcelis Technologies, Inc.'s moat claims, evidence, and risks.

View ACLS analysis

Analog Devices, Inc.

ADI · Nasdaq Global Select Market

Market cap (USD)$197.2B
Gross margin (TTM)62.8%
Operating margin (TTM)29.2%
Net margin (TTM)23%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2026-01-02
Moat score
59/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Analog Devices, Inc.'s moat claims, evidence, and risks.

View ADI analysis

Comparison highlights

  • Moat score gap: Axcelis Technologies, Inc. leads (64 / 100 vs 59 / 100 for Analog Devices, Inc.).
  • Segment focus: Axcelis Technologies, Inc. has 2 segments (68.1% in Ion implantation systems); Analog Devices, Inc. has 4 segments (44.7% in Industrial).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Axcelis Technologies, Inc. has 7 moat types across 2 domains; Analog Devices, Inc. has 5 across 2.

Primary market context

Axcelis Technologies, Inc.

Ion implantation systems

Market

Global semiconductor ion implantation equipment for wafer fabrication

Geography

Global, concentrated in Asia-Pacific semiconductor fabs

Customer

Semiconductor manufacturers, foundries, IDMs, power-device makers, memory producers and logic fabs

Role

OEM supplier of high current, medium current and high energy ion implantation systems

Revenue share

68.1%

Analog Devices, Inc.

Industrial

Market

Industrial analog, mixed-signal, RF and power management semiconductors

Geography

Global

Customer

B2B (OEMs/ODMs, industrial equipment, test & measurement, aerospace/defense)

Role

Semiconductor IC supplier

Revenue share

44.7%

Side-by-side metrics

Axcelis Technologies, Inc.
Analog Devices, Inc.
Ticker / Exchange
ACLS - Nasdaq Global Select Market
ADI - Nasdaq Global Select Market
Market cap (USD)
$4.4B
$197.2B
Gross margin (TTM)
44.9%
62.8%
Operating margin (TTM)
14.2%
29.2%
Net margin (TTM)
14.3%
23%
Sector
Technology
Technology
Industry
Semiconductors
Semiconductors
HQ country
US
US
Primary segment
Ion implantation systems
Industrial
Market structure
Oligopoly
Oligopoly
Market share
19%-21% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
64 / 100
59 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2026-04-25
2026-01-02

Moat coverage

Shared moat types

Design In QualificationCapex Knowhow ScaleBrand Trust

Axcelis Technologies, Inc. strengths

Learning Curve YieldInstalled Base ConsumablesService Field NetworkProcurement Inertia

Analog Devices, Inc. strengths

Scope EconomiesData Workflow Lockin

Segment mix

Axcelis Technologies, Inc. segments

Full profile >

Ion implantation systems

Oligopoly

68.1%

Customer Solutions & Innovation aftermarket

Competitive

31.9%

Analog Devices, Inc. segments

Full profile >

Industrial

Oligopoly

44.7%

Automotive

Oligopoly

29.8%

Communications

Oligopoly

12.5%

Consumer

Competitive

13%

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Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.