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U.S. Semiconductor Equipment Industry Analysis

UpdatedJul 11, 2026
DataAggregated Company Financials
Companies39
  • 7D-0.5%
  • 3M33.7%
  • 1Y194.2%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has dropped 1.1%, driven by Applied Materials declining 2.4%. Over the past 12 months, the industry was up 191%. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Jul 2026US$1.5tUS$101.7bUS$22.6b76.1x64.7x14.4x
Mon, 08 Jun 2026US$1.2tUS$101.7bUS$22.6b62.3x54.5x12.1x
Wed, 06 May 2026US$1.1tUS$100.2bUS$21.7b49.9x50.4x10.9x
Fri, 03 Apr 2026US$951.7bUS$97.8bUS$20.8b43.8x45.8x9.7x
Sun, 01 Mar 2026US$987.0bUS$97.9bUS$20.8b45.4x47.5x10.1x
Tue, 27 Jan 2026US$895.5bUS$95.9bUS$19.0b48x47x9.3x
Thu, 25 Dec 2025US$733.3bUS$95.9bUS$19.0b38.8x38.5x7.6x
Sat, 22 Nov 2025US$607.3bUS$95.9bUS$19.0b33.7x31.9x6.3x
Mon, 20 Oct 2025US$606.2bUS$89.4bUS$16.3b33.3x37.1x6.8x
Wed, 17 Sep 2025US$508.0bUS$89.4bUS$16.3b29.4x31.1x5.7x
Fri, 15 Aug 2025US$498.7bUS$89.1bUS$16.2b26.7x30.7x5.6x
Sun, 13 Jul 2025US$494.9bUS$87.0bUS$15.5b31.5x32x5.7x
Tue, 10 Jun 2025US$423.1bUS$87.0bUS$15.5b25.4x27.3x4.9x
Thu, 08 May 2025US$376.6bUS$86.3bUS$15.0b26.4x25x4.4x
Sat, 05 Apr 2025US$342.4bUS$84.8bUS$14.2b22.6x24.1x4x
Mon, 03 Mar 2025US$408.5bUS$84.8bUS$14.2b32.7x28.8x4.8x
Wed, 29 Jan 2025US$426.6bUS$83.2bUS$14.6b34.3x29.2x5.1x
Fri, 27 Dec 2024US$418.7bUS$83.2bUS$14.6b28x28.7x5x
Sun, 24 Nov 2024US$417.8bUS$83.2bUS$14.6b28.3x28.6x5x
Tue, 22 Oct 2024US$442.9bUS$82.5bUS$15.6b26.3x28.4x5.4x
Thu, 19 Sep 2024US$463.2bUS$82.5bUS$15.6b24.5x29.7x5.6x
Sat, 17 Aug 2024US$520.1bUS$83.0bUS$15.8b26.2x32.9x6.3x
Mon, 15 Jul 2024US$592.5bUS$82.8bUS$13.8b34.2x43.1x7.2x
Wed, 12 Jun 2024US$554.2bUS$82.8bUS$13.8b27.5x40.3x6.7x
Fri, 10 May 2024US$505.1bUS$82.7bUS$13.6b31.7x37.1x6.1x
Sun, 07 Apr 2024US$507.0bUS$84.5bUS$14.2b34.5x35.7x6x
Tue, 05 Mar 2024US$517.6bUS$84.5bUS$14.2b36x36.5x6.1x
Thu, 01 Feb 2024US$441.2bUS$88.0bUS$15.0b24.8x29.4x5x
Sat, 30 Dec 2023US$438.7bUS$90.1bUS$15.9b25.8x27.6x4.9x
Mon, 27 Nov 2023US$396.7bUS$90.0bUS$15.9b24.4x24.9x4.4x
Wed, 25 Oct 2023US$347.4bUS$92.3bUS$16.4b22.9x21.2x3.8x
Fri, 22 Sep 2023US$359.4bUS$93.9bUS$17.0b24.6x21.2x3.8x
Sun, 20 Aug 2023US$381.3bUS$93.9bUS$17.0b25x22.5x4.1x
Tue, 18 Jul 2023US$401.8bUS$96.1bUS$20.1b21.5x20x4.2x
Price to Earnings Ratio

20x


Total Market Cap: US$401.8bTotal Earnings: US$20.1bTotal Revenue: US$96.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 34x202420252026
Current Industry PE
  • Investors are optimistic on the American Semiconductor Equipment industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 62.6x which is higher than its 3-year average PE of 33.9x.
  • The 3-year average PS ratio of 6.4x is lower than the industry's current PS ratio of 13.9x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have grown 3.9% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does U.S. Semiconductor Equipment compare with similar industries?

US Market0.74%
Tech3.08%
Semiconductors5.18%
Semiconductor Equipment-0.49%
Semiconductors5.96%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
ONTO Onto InnovationUS$321.444.5%
+US$689.4m		215.9%PE150.3x
Q Qnity ElectronicsUS$143.801.4%
+US$429.1m		n/aPE46.3x
ACMR ACM ResearchUS$103.005.3%
+US$361.4m		260.6%PE78.2x
ENPH Enphase EnergyUS$44.834.1%
+US$232.0m		7.1%PE43.8x
MKSI MKSUS$368.580.8%
+US$204.0m		246.2%PE76.1x

Latest News

MKSI
US$368.58
MKS
7D
0.8%
1Y
246.2%
KLIC
US$113.41
Kulicke and Soffa Industries
7D
-6.5%
1Y
212.8%
Narrative Update • Jul 10

KLIC: Fair Outlook Balances Capacity Expansion With Index Removal Ownership Risk

Kulicke and Soffa Industries’ analyst price target has been updated from $55 to $105, with analysts citing revised assumptions for revenue growth, profit margin, discount rate, and future P/E as key drivers behind the change. What’s in the News for Kulicke and Soffa Industries Kulicke and Soffa Industries is reported to be benefiting from demand for its Thermo Compression Bonding technology and is expanding production capacity to support growth in its Advanced Solutions revenue segment.
LRCX
US$350.33
Lam Research
7D
-0.3%
1Y
244.4%
NVMI
US$475.90
Nova
7D
1.2%
1Y
67.5%
Narrative Update • Jul 10

NVMI: Advanced Logic And Memory Exposure Will Drive Future Upside Potential

Analysts have lifted the fair value estimate for Nova stock from $335.00 to about $544.73, citing higher price targets across the Street, supported by Q1 strength, improving margins, and what they see as company specific growth drivers in advanced logic, memory, and packaging. Analyst Commentary Recent Street research on Nova points to broad support for the stock at higher levels, with several firms lifting price targets into the US$594 to US$640 range following the Q1 earnings release.
AMAT
US$602.50
Applied Materials
7D
-0.09%
1Y
204.4%
Seeking Alpha • Jul 09

Applied Materials: You're Late To The AI Party

Summary Applied Materials holds a leading market position but currently trades at a valuation difficult to justify, even after a recent 20% correction. I initiate coverage with a Sell rating, citing 27% downside risk and a price target of $400/share based on 28x EV/EBITDA. AMAT's fortunes are tightly linked to semiconductor customer capex, which remains robust but is inherently volatile and sensitive to macro/geopolitical shifts. Despite strong recent results and shareholder returns, the risk/reward is unfavorable given stretched valuation and potential for capex deceleration. Read the full article on Seeking Alpha
ENPH
US$44.83
Enphase Energy
7D
4.1%
1Y
7.1%
FORM
US$117.52
FormFactor
7D
-4.9%
1Y
226.7%
ONTO
US$321.44
Onto Innovation
7D
4.5%
1Y
215.9%
Q
US$143.80
Qnity Electronics
7D
1.4%
1Y
n/a
AMKR
US$70.47
Amkor Technology
7D
1.2%
1Y
222.4%
ENTG
US$145.35
Entegris
7D
-0.9%
1Y
66.0%
Narrative Update • Jul 06

ENTG: AI Materials Demand Will Support WFE Upcycle Through Cycle Volatility

Analysts have nudged their fair value estimate for Entegris higher to $165.00 from $160.60. This change reflects a series of upward price target revisions that cite an improving cycle backdrop for technology materials and steady end market conditions.
TER
US$359.60
Teradyne
7D
-2.6%
1Y
270.5%
KLAC
US$231.52
KLA
7D
-1.7%
1Y
150.4%
SEDG
US$55.18
SolarEdge Technologies
7D
5.3%
1Y
115.4%
Narrative Update • Jul 06

SEDG: Potential Inverter Ban And Solid State Progress Will Drive Repricing

SolarEdge Technologies' updated analyst price target has moved from about $69 to $80. Analysts are factoring in potential benefits from a possible U.S. ban on certain foreign inverters, ongoing solid state transformer progress, and expectations for market share gains from recent product launches.
ACMR
US$103.00
ACM Research
7D
5.3%
1Y
260.6%
Narrative Update • Jul 06

ACMR: China Memory Exposure And Backend Expansion Will Shape Balanced 2026 Outcome

Analysts have lifted the ACM Research fair value estimate from $88.63 to $102.14. This reflects recent price target increases that highlight potential contributions from China memory exposure, ECP adoption in advanced packaging, and additional backend opportunities outside mainland China.
PDFS
US$55.52
PDF Solutions
7D
-6.2%
1Y
141.2%
Narrative Update • Jul 03

PDFS: Higher Earnings Power And Share Supply Shifts Will Shape Fairly Valued Outlook

The analyst price target for PDF Solutions has increased from $54.88 to $59.38, reflecting updated assumptions around revenue growth, profit margins, and future P/E multiples based on recent price target revisions from multiple research firms. Analyst Commentary Recent research updates on PDF Solutions center on higher price targets, with analysts revisiting their assumptions around revenue growth, profitability, and the P/E multiple they are willing to apply to the stock.