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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-03-006977.txt : 20030522
<SEC-HEADER>0001181431-03-006977.hdr.sgml : 20030522
<ACCEPTANCE-DATETIME>20030506155736
ACCESSION NUMBER:		0001181431-03-006977
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030501
FILED AS OF DATE:		20030505
DATE AS OF CHANGE:		20030522

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FALLON LYNNETTE C
		CENTRAL INDEX KEY:			0001195654

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30941
		FILM NUMBER:		03684344

	BUSINESS ADDRESS:	
		STREET 1:		AXCELIS TECHNOLOGIES INC
		CITY:			BEVERLY
		STATE:			MA
		ZIP:			01915-1053

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AXCELIS TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001113232
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY, NEC [3559]
		IRS NUMBER:				341818596
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		55 CHERRY HILL DRIVE
		CITY:			BEVERLY
		STATE:			MA
		ZIP:			01915
		BUSINESS PHONE:		9782324001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EATON SEMICONDUCTOR EQUIPMENT INC
		DATE OF NAME CHANGE:	20000501
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd8189.xml
<DESCRIPTION>FALLON FORM 4 MAY 2003
<TEXT>
<XML>
<?xml version="1.0"?>
<?xml-stylesheet type="text/xsl" href="http://www.RRDnetfiler.com/XSL/SEC_Form_4.xsl"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType>
<periodOfReport>2003-05-01</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
<issuer><issuerCik>0001113232</issuerCik>
        <issuerName>AXCELIS TECHNOLOGIES INC</issuerName>
<issuerTradingSymbol>ACLS</issuerTradingSymbol></issuer>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik>0001195654</rptOwnerCik>
            <rptOwnerName>FALLON LYNNETTE C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Senior VP, HR/Legal</officerTitle>
<otherText></otherText></reportingOwnerRelationship></reportingOwner>
<derivativeSecurity>
<securityTitle>
<value>Stock option (right to buy)</value></securityTitle>
<conversionOrExercisePrice>
<value>5.70</value></conversionOrExercisePrice>
<transactionDate>
<value>2003-05-01</value></transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F1"/></transactionCoding>
<transactionAmounts>
<transactionShares>
<value>30000</value></transactionShares>
<transactionValue>
<value>0.00</value></transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value></transactionAcquiredDisposedCode></transactionAmounts>
<exerciseDate>
<value>2007-05-01</value>
<footnoteId id="F2"/></exerciseDate>
<expirationDate>
<value>2013-05-01</value></expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value>Common Stock</value></underlyingSecurityTitle>
<underlyingSecurityShares>
<value>30000</value></underlyingSecurityShares></underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>30000</value></sharesOwnedFollowingTransaction></postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value></directOrIndirectOwnership>
<natureOfOwnership>
<value></value></natureOfOwnership></ownershipNature></derivativeSecurity>
<footnotes>
<footnote id="F1">Granted Pursuant to the Axcelis Technologies, Inc. 2000 Stock Plan.</footnote>
<footnote id="F2">Excercisable as to 25% of the total shares on each of 5/01/2004, 5/01/2005, 5/01/2006 and 5/01/2007.</footnote></footnotes>
<ownerSignature>
<signatureName>Lynnette C. Fallon</signatureName>
<signatureDate>2003-05-05</signatureDate></ownerSignature></ownershipDocument>


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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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