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U.S. Semiconductor Equipment Industry Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies39
  • 7D0.4%
  • 3M38.7%
  • 1Y92.9%
  • YTDn/a

In the last week, the Semiconductor Equipment industry is up 3.2%, with Lam Research up 1.5%. This takes the industry's 12 month performance to a gain of 96%. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026US$917.2bUS$95.9bUS$19.0b47.1x48.2x9.6x
Sun, 21 Dec 2025US$716.3bUS$95.9bUS$19.0b37.8x37.6x7.5x
Tue, 18 Nov 2025US$635.0bUS$95.8bUS$19.0b34.4x33.4x6.6x
Thu, 16 Oct 2025US$584.6bUS$89.4bUS$16.3b34.1x35.8x6.5x
Sat, 13 Sep 2025US$497.3bUS$89.4bUS$16.3b28.6x30.4x5.6x
Mon, 11 Aug 2025US$478.5bUS$89.1bUS$16.2b25.1x29.5x5.4x
Wed, 09 Jul 2025US$480.2bUS$87.0bUS$15.5b29.1x31x5.5x
Fri, 06 Jun 2025US$413.1bUS$87.0bUS$15.5b24.5x26.7x4.7x
Sun, 04 May 2025US$384.3bUS$86.4bUS$15.0b26.4x25.7x4.4x
Tue, 01 Apr 2025US$375.5bUS$84.8bUS$14.2b28.3x26.4x4.4x
Thu, 27 Feb 2025US$424.1bUS$85.1bUS$14.4b34.3x29.4x5x
Sat, 25 Jan 2025US$465.1bUS$83.2bUS$14.6b36.2x31.9x5.6x
Mon, 23 Dec 2024US$405.8bUS$83.2bUS$14.6b26.7x27.8x4.9x
Wed, 20 Nov 2024US$404.5bUS$83.2bUS$14.6b28.9x27.7x4.9x
Fri, 18 Oct 2024US$443.9bUS$82.5bUS$15.6b26.5x28.5x5.4x
Sun, 15 Sep 2024US$465.2bUS$82.5bUS$15.6b25.4x29.8x5.6x
Tue, 13 Aug 2024US$471.6bUS$82.6bUS$15.7b25.2x30.1x5.7x
Thu, 11 Jul 2024US$603.4bUS$82.8bUS$13.8b34.9x43.9x7.3x
Sat, 08 Jun 2024US$541.0bUS$82.8bUS$13.8b28.8x39.3x6.5x
Mon, 06 May 2024US$498.9bUS$83.3bUS$13.8b31.5x36.1x6x
Wed, 03 Apr 2024US$516.6bUS$84.5bUS$14.2b34.9x36.4x6.1x
Fri, 01 Mar 2024US$487.6bUS$84.5bUS$14.2b34.7x34.3x5.8x
Sun, 28 Jan 2024US$442.2bUS$88.0bUS$15.0b24.9x29.5x5x
Tue, 26 Dec 2023US$434.4bUS$90.1bUS$15.9b25.7x27.3x4.8x
Thu, 23 Nov 2023US$398.2bUS$90.0bUS$15.9b24.2x25x4.4x
Sat, 21 Oct 2023US$348.5bUS$92.3bUS$16.4b23x21.2x3.8x
Mon, 18 Sep 2023US$365.7bUS$93.9bUS$17.0b24.8x21.6x3.9x
Wed, 16 Aug 2023US$383.1bUS$94.0bUS$17.0b24.9x22.5x4.1x
Fri, 14 Jul 2023US$403.6bUS$96.1bUS$20.1b20.8x20.1x4.2x
Sun, 11 Jun 2023US$386.8bUS$96.1bUS$20.1b18.2x19.2x4x
Tue, 09 May 2023US$331.9bUS$95.5bUS$20.3b15.3x16.4x3.5x
Thu, 06 Apr 2023US$335.0bUS$96.1bUS$21.2b15.8x15.8x3.5x
Sat, 04 Mar 2023US$347.0bUS$96.1bUS$21.2b16x16.4x3.6x
Mon, 30 Jan 2023US$339.2bUS$93.9bUS$21.2b17x16x3.6x
Price to Earnings Ratio

16x


Total Market Cap: US$339.2bTotal Earnings: US$21.2bTotal Revenue: US$93.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 28.5x202420252026
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 47.9x which is higher than its 3-year average PE of 28.5x.
  • The 3-year average PS ratio of 5.2x is lower than the industry's current PS ratio of 9.5x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have declined 3.5% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

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

US Market-0.28%
Tech-1.23%
Semiconductors0.69%
Semiconductor Equipment0.38%
Semiconductors0.72%
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
LRCX Lam ResearchUS$220.701.5%
+US$4.1b		171.7%PE47.7x
MKSI MKSUS$223.008.6%
+US$1.2b		86.3%PE53.7x
Q Qnity ElectronicsUS$98.766.1%
+US$1.2b		n/aPE25.7x
AMKR Amkor TechnologyUS$52.456.6%
+US$803.4m		102.5%PE42.1x
NVMI NovaUS$461.376.2%
+US$795.3m		83.2%PE55.8x

Latest News

AMAT
US$318.79
Applied Materials
7D
-0.09%
1Y
67.2%
ACMR
US$51.67
ACM Research
7D
-1.0%
1Y
180.5%
AMKR
US$52.45
Amkor Technology
7D
6.6%
1Y
102.5%

Amkor Technology, Inc. (NASDAQ:AMKR) Stocks Shoot Up 31% But Its P/E Still Looks Reasonable

Jan 22
Amkor Technology, Inc. (NASDAQ:AMKR) Stocks Shoot Up 31% But Its P/E Still Looks Reasonable
MKSI
US$223.00
MKS
7D
8.6%
1Y
86.3%
NVMI
US$461.37
Nova
7D
6.2%
1Y
83.2%

NVMI: Rising Multi Year Demand Expectations Will Likely Outrun Fundamentals

Narrative Update on Nova Analysts have raised their price target on Nova to $450 from $380, citing expectations of stronger multi-year demand, improving visibility, broader customer exposure and the potential for higher free cash flow in an upturn. Analyst Commentary Bullish analysts see the higher price target as a reflection of what they view as improving fundamentals around demand visibility, customer mix and potential cash generation, all of which they factor into their updated valuation work.
ENTG
US$118.52
Entegris
7D
4.4%
1Y
11.9%

ENTG: A.I. Hype Versus Cyclical Weakness Will Pressure Premium Expectations

Narrative Update on Entegris The updated analyst price target for Entegris has shifted from about $80.04 to $75.00, as analysts factor in modest tweaks to growth, margins and future P/E expectations. At the same time, they continue to point to recent target increases and upgrades that highlight ongoing interest in the stock.
LRCX
US$220.70
Lam Research
7D
1.5%
1Y
171.7%

LRCX: AI Memory And WFE Cycles Expected To Support Balanced Returns

Analysts have lifted their price targets for Lam Research, with our fair value estimate moving from US$160.30 to about US$204.03, citing higher assumed revenue growth, slightly stronger profitability, and a richer future P/E multiple supported by a wave of recent target hikes across the Street. Analyst Commentary Bullish analysts have been lifting their fair value views on Lam Research across a tight time window, often by large absolute dollar amounts per share.
AXTI
US$17.92
AXT
7D
-30.3%
1Y
679.1%

AXTI: Export Permit Uncertainty Will Constrain Near Term Revenue Outlook

Analysts have lifted their price targets for AXT, with moves such as from US$4.10 to US$7 and from US$9 to US$18, citing changing views on export permit progress, revenue assumptions, and valuation. Analyst Commentary Recent Street research on AXT reflects a mixed backdrop, with some bearish analysts turning more cautious even as price targets move higher.
KLAC
US$1,499.07
KLA
7D
-3.0%
1Y
97.0%

KLAC: Higher Conviction In Leading Edge Exposure Will Drive Re Rating

The analyst fair value estimate for KLA has been lifted from US$1,075 to US$1,800, as analysts factor in stronger projected revenue growth, slightly higher profit margins, and a richer future P/E multiple supported by recent upgrades and higher price targets across the Street. Analyst Commentary Recent Street research around KLA points to a clear shift toward a more constructive stance, with several firms recalibrating their models and price targets to reflect higher conviction in the company’s execution and end market positioning.
FORM
US$81.00
FormFactor
7D
7.6%
1Y
88.9%

FORM: High Bandwidth Memory Upside Will Support Stronger Margins Into 2026

Analysts have lifted their price targets on FormFactor, supporting a fair value move from $78.00 to $88.00. They point to faster margin improvement and potential upside tied to high bandwidth memory and graphics processing unit related demand.
Q
US$98.76
Qnity Electronics
7D
6.1%
1Y
n/a
CAMT
US$142.78
Camtek
7D
-1.1%
1Y
36.4%

Optimistic Investors Push Camtek Ltd. (NASDAQ:CAMT) Shares Up 30% But Growth Is Lacking

Jan 16
Optimistic Investors Push Camtek Ltd. (NASDAQ:CAMT) Shares Up 30% But Growth Is Lacking
ONTO
US$211.80
Onto Innovation
7D
-2.8%
1Y
-2.4%
ENPH
US$40.48
Enphase Energy
7D
14.5%
1Y
-37.0%
ACLS
US$94.96
Axcelis Technologies
7D
-1.6%
1Y
33.8%

ACLS: Shareholder Meeting And Buybacks Will Shape Balanced Future Prospects

Analysts have reduced their fair value estimate for Axcelis Technologies from $96.80 to $93.50. They cite updated assumptions around revenue growth, profit margins, and a higher future P/E multiple as the reasons for the change.
ALMU
US$17.65
Aeluma
7D
-18.4%
1Y
143.4%