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U.S. Semiconductors Industry Analysis

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies128
  • 7D-8.7%
  • 3M-2.5%
  • 1Y39.8%
  • YTD-4.5%

Over the last 7 days, the Semiconductors industry has dropped 8.7%, driven by NVIDIA declining 10%. Over the past 12 months, the industry was up 40%. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

Has the U.S. Semiconductors Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Feb 2026US$8.6tUS$646.3bUS$178.0b40.6x48.3x13.3x
Sun, 04 Jan 2026US$9.0tUS$640.8bUS$176.4b37.3x51x14x
Tue, 02 Dec 2025US$8.8tUS$631.0bUS$166.0b35.7x52.8x13.9x
Thu, 30 Oct 2025US$4.4tUS$599.8bUS$158.5b39.9x27.9x7.4x
Sat, 27 Sep 2025US$8.1tUS$597.4bUS$136.9b34.9x59.5x13.6x
Mon, 25 Aug 2025US$7.8tUS$573.3bUS$118.6b30.1x65.4x13.5x
Wed, 23 Jul 2025US$7.5tUS$566.2bUS$118.1b30.9x63.4x13.2x
Fri, 20 Jun 2025US$6.6tUS$563.8bUS$116.8b27x56.7x11.7x
Sun, 18 May 2025US$6.2tUS$541.9bUS$109.3b23.5x56.3x11.4x
Tue, 15 Apr 2025US$5.0tUS$537.3bUS$108.9b23.1x46x9.3x
Thu, 13 Mar 2025US$5.2tUS$536.3bUS$108.3b28.2x47.6x9.6x
Sat, 08 Feb 2025US$6.1tUS$515.4bUS$96.1b31x63.6x11.9x
Mon, 06 Jan 2025US$6.5tUS$513.5bUS$96.7b31.2x67.1x12.6x
Wed, 04 Dec 2024US$6.1tUS$505.0bUS$93.4b31.1x65.3x12.1x
Fri, 01 Nov 2024US$5.9tUS$489.5bUS$101.6b26.9x58.4x12.1x
Sun, 29 Sep 2024US$5.8tUS$489.3bUS$101.8b29.2x57.3x11.9x
Tue, 27 Aug 2024US$6.0tUS$466.0bUS$94.2b27.9x63.5x12.8x
Thu, 25 Jul 2024US$6.0tUS$466.6bUS$95.9b26.9x62.2x12.8x
Sat, 22 Jun 2024US$6.3tUS$464.9bUS$94.3b30x66.6x13.5x
Mon, 20 May 2024US$5.0tUS$444.9bUS$83.4b29.5x60.2x11.3x
Wed, 17 Apr 2024US$4.7tUS$447.5bUS$81.6b28.2x57.9x10.6x
Fri, 15 Mar 2024US$4.9tUS$446.0bUS$78.2b29.6x62.8x11x
Sun, 11 Feb 2024US$4.4tUS$429.4bUS$71.2b29.2x61.1x10.1x
Tue, 09 Jan 2024US$3.5tUS$433.3bUS$69.5b26.4x49.8x8x
Thu, 07 Dec 2023US$3.1tUS$432.2bUS$70.4b24.8x44.4x7.2x
Sat, 04 Nov 2023US$3.0tUS$421.3bUS$62.6b24.3x47.9x7.1x
Mon, 02 Oct 2023US$3.0tUS$428.2bUS$65.8b24.8x44.9x6.9x
Wed, 30 Aug 2023US$3.1tUS$427.7bUS$68.4b26.9x45.6x7.3x
Fri, 28 Jul 2023US$3.1tUS$427.2bUS$66.2b23.3x46.9x7.3x
Sun, 25 Jun 2023US$2.9tUS$434.1bUS$71.9b22.9x40.4x6.7x
Tue, 23 May 2023US$2.5tUS$434.7bUS$70.4b21.2x35.8x5.8x
Thu, 20 Apr 2023US$2.4tUS$443.7bUS$85.6b18.4x27.8x5.4x
Sat, 18 Mar 2023US$2.3tUS$447.4bUS$90.2b18x25.9x5.2x
Mon, 13 Feb 2023US$2.2tUS$442.5bUS$89.0b18.3x24.7x5x
Price to Earnings Ratio

24.7x


Total Market Cap: US$2.2tTotal Earnings: US$89.0bTotal Revenue: US$442.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 52.8x202420252026
Current Industry PE
  • Investors are pessimistic on the American Semiconductor industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 48.3x which is lower than its 3-year average PE of 52.8x.
  • The 3-year average PS ratio of 10.4x is lower than the industry's current PS ratio of 13.3x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 26% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market-2.98%
Tech-6.82%
Semiconductors-8.73%
Semiconductors-8.65%
Semiconductor Equipment-9.45%
Industry PE
  • Investors are most optimistic about the Semiconductors industry even though it's trading below its 3-year average PE ratio of 58.1x.
    • Analysts are expecting annual earnings growth of 24.9%, which is higher than its past year's earnings growth of 5.1% per year.
  • Investors are most pessimistic about the Semiconductor Equipment industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 28.9x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings growth rate of 5.1% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 17% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
INTC IntelUS$48.243.8%
+US$8.8b		152.6%PS4.6x
ADI Analog DevicesUS$322.123.6%
+US$5.5b		57.0%PE69.4x
TER TeradyneUS$271.1312.5%
+US$4.7b		139.5%PE76.6x
TXN Texas InstrumentsUS$223.982.3%
+US$4.5b		22.2%PE40.6x
ARM Arm HoldingsUS$110.882.3%
+US$2.7b		-33.8%PE147x

Latest News

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KLA
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LRCX
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Lam Research
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QUALCOMM
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ARM
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Arm Holdings
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INTC
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Intel
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1Y
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TXN
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Texas Instruments
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2.3%
1Y
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Investors Appear Satisfied With Texas Instruments Incorporated's (NASDAQ:TXN) Prospects As Shares Rocket 26%

Feb 05
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MPWR
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Monolithic Power Systems
7D
2.8%
1Y
60.5%

MPWR: Elevated P/E Assumptions Will Likely Magnify Execution And Demand Risks

Analysts have lifted their fair value estimate for Monolithic Power Systems from about $659 to roughly $972, citing updated assumptions that include a higher future P/E multiple and refreshed views on growth and profitability. These revisions are aligned with the recent series of upward price target changes and upgrades.
SLAB
US$205.22
Silicon Laboratories
7D
40.0%
1Y
39.2%

SLAB: Downgrades And Deal Uncertainty Will Cap Upside Potential

The updated analyst price target for Silicon Laboratories moves from US$150.44 to US$164.13, with analysts pointing to revised profit margin assumptions and a lower projected future P/E multiple, even as several firms have shifted to more neutral or Hold ratings following recent deal commentary. Analyst Commentary Recent research updates cluster around a more cautious stance, with several firms shifting to Hold or neutral views following deal related headlines.
AMD
US$192.50
Advanced Micro Devices
7D
-23.7%
1Y
74.7%

AMD: AI Data Center Demand Will Drive Long-Term Earnings Power

Analysts have raised their price targets on Advanced Micro Devices by up to $30, citing healthy server demand, confidence in the AI accelerator roadmap, and updated assumptions for growth, margins, and a higher future P/E multiple in their models. Analyst Commentary Recent research on Advanced Micro Devices has tilted clearly constructive, with several bullish analysts revisiting their models and assumptions around AI, servers, and long term earnings power.
AVGO
US$310.51
Broadcom
7D
-6.1%
1Y
34.2%

AVGO: AI Custom Silicon Demand Will Shape Future Earnings Power

Analysts have lifted their Broadcom fair value estimate from US$415.56 to US$535.00, citing stronger AI related revenue assumptions, slightly leaner profit margins, and a lower future P/E expectation as they recalibrate forecasts alongside a series of recent upgrades and higher price targets across the semiconductor group. Analyst Commentary Recent Street research around Broadcom has leaned constructive, with several firms revising price targets, initiating coverage, or resuming opinions that highlight the company as a key beneficiary of AI related spending and custom silicon demand.
TER
US$271.13
Teradyne
7D
12.5%
1Y
139.5%
ADI
US$322.12
Analog Devices
7D
3.6%
1Y
57.0%
MU
US$382.89
Micron Technology
7D
-12.1%
1Y
305.0%

MU: AI Memory Shortages Will Eventually Draw New Capacity And Pressure Returns

Analysts have lifted their fair value estimate for Micron from US$249.31 to US$365.22. They point to higher assumed revenue growth, wider profit margins and a lower future P/E multiple, supported by recent price target increases and generally positive commentary around tight memory supply and AI driven demand.
AMAT
US$303.99
Applied Materials
7D
-10.9%
1Y
66.3%

AMAT: Future Multiple Compression Will Likely Follow Aggressive Wafer Equipment Spending Cycle

Our analyst fair value estimate for Applied Materials has moved up by $10 to $190 per share, reflecting updated assumptions on revenue growth, profitability, and long-term P/E, in line with the series of recent price target hikes and upgrades from Street analysts. Analyst Commentary Recent Street research on Applied Materials has been dominated by higher price targets, fresh initiations with constructive views, and several upgrades.
NVDA
US$171.88
NVIDIA
7D
-10.1%
1Y
32.4%
ON
US$63.10
ON Semiconductor
7D
5.4%
1Y
23.1%

ON: Buybacks And Automotive Wins Will Shape Balanced Prospects Ahead

Analysts have lifted their price target for ON Semiconductor to US$63.00 from US$58.70, citing updated assumptions around the discount rate, revenue growth, profit margins, and future P/E that collectively support a higher fair value estimate. What's in the News ON Semiconductor has been removed from the NASDAQ-100 Index, which can affect index-linked fund ownership and trading volumes for the stock.