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U.S. Semiconductor Equipment Industry Analysis

UpdatedJul 17, 2026
DataAggregated Company Financials
Companies38
  • 7D-6.8%
  • 3M21.1%
  • 1Y175.5%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has dropped 6.8%, driven by a pullback from Lam Research of 9.1%. Meanwhile, Aehr Test Systems actually outperformed within the industry, gaining 10% in the last week. Over the past 12 months, the industry was up 176%. 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
Fri, 17 Jul 2026US$1.4tUS$101.7bUS$22.6b63.9x62.6x13.9x
Sun, 14 Jun 2026US$1.5tUS$101.7bUS$22.6b73.5x67.3x14.9x
Tue, 12 May 2026US$1.2tUS$100.7bUS$21.9b65.3x55.3x12x
Thu, 09 Apr 2026US$961.5bUS$97.8bUS$20.8b48.8x46.3x9.8x
Sat, 07 Mar 2026US$919.3bUS$97.8bUS$20.8b39.4x44.2x9.4x
Mon, 02 Feb 2026US$904.0bUS$97.0bUS$19.8b44x45.7x9.3x
Wed, 31 Dec 2025US$723.0bUS$95.9bUS$19.0b38.1x38x7.5x
Fri, 28 Nov 2025US$670.0bUS$95.9bUS$19.0b35.8x35.2x7x
Sun, 26 Oct 2025US$634.2bUS$90.6bUS$16.8b33x37.8x7x
Tue, 23 Sep 2025US$547.0bUS$89.4bUS$16.3b31.9x33.5x6.1x
Thu, 21 Aug 2025US$455.5bUS$89.6bUS$16.3b26.3x27.9x5.1x
Sat, 19 Jul 2025US$490.2bUS$87.0bUS$15.5b30.9x31.7x5.6x
Mon, 16 Jun 2025US$439.1bUS$87.0bUS$15.5b24.8x28.4x5x
Wed, 14 May 2025US$419.5bUS$86.5bUS$15.1b26.4x27.8x4.8x
Fri, 11 Apr 2025US$377.6bUS$84.9bUS$14.2b23.6x26.6x4.5x
Sun, 09 Mar 2025US$408.6bUS$84.8bUS$14.2b31.2x28.8x4.8x
Tue, 04 Feb 2025US$445.1bUS$84.5bUS$15.1b32x29.5x5.3x
Thu, 02 Jan 2025US$405.8bUS$83.2bUS$14.6b30.9x27.8x4.9x
Sat, 30 Nov 2024US$421.0bUS$83.2bUS$14.6b28.5x28.9x5.1x
Mon, 28 Oct 2024US$444.6bUS$83.1bUS$15.8b26.1x28.2x5.4x
Wed, 25 Sep 2024US$473.4bUS$82.5bUS$15.6b24.4x30.4x5.7x
Fri, 23 Aug 2024US$516.0bUS$83.0bUS$15.8b25.6x32.6x6.2x
Sun, 21 Jul 2024US$517.9bUS$82.8bUS$13.8b29.7x37.6x6.3x
Tue, 18 Jun 2024US$570.8bUS$82.8bUS$13.8b27.6x41.5x6.9x
Thu, 16 May 2024US$512.5bUS$82.8bUS$13.6b27.2x37.6x6.2x
Sat, 13 Apr 2024US$518.3bUS$84.5bUS$14.2b35.1x36.5x6.1x
Mon, 11 Mar 2024US$509.8bUS$84.5bUS$14.2b35.6x35.9x6x
Wed, 07 Feb 2024US$434.1bUS$86.5bUS$14.8b23.6x29.4x5x
Fri, 05 Jan 2024US$402.9bUS$90.1bUS$15.9b24.5x25.3x4.5x
Sun, 03 Dec 2023US$400.0bUS$90.0bUS$15.9b24.8x25.1x4.4x
Tue, 31 Oct 2023US$335.0bUS$91.6bUS$16.0b20.1x20.9x3.7x
Thu, 28 Sep 2023US$359.2bUS$93.9bUS$17.0b23.9x21.2x3.8x
Sat, 26 Aug 2023US$385.1bUS$93.9bUS$17.0b25.6x22.7x4.1x
Mon, 24 Jul 2023US$390.2bUS$96.1bUS$20.1b21x19.4x4.1x
Price to Earnings Ratio

19.4x


Total Market Cap: US$390.2bTotal 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 34.2x202420252026
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 34.2x.
  • 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 Market-0.88%
Tech-2.95%
Semiconductors-5.14%
Semiconductor Equipment-6.81%
Semiconductors-4.93%
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
AEHR Aehr Test SystemsUS$84.2010.5%
+US$337.8m		443.9%PS54.7x
CAMT CamtekUS$147.921.8%
+US$117.9m		60.9%PE141.7x

Latest News

ONTO
US$281.61
Onto Innovation
7D
-11.2%
1Y
185.3%
AEHR
US$84.20
Aehr Test Systems
7D
10.5%
1Y
443.9%
TER
US$322.30
Teradyne
7D
-11.2%
1Y
247.3%
Narrative Update • Jul 16

TER: AI Infrastructure And WFE Cycle Will Drive Next Repricing Wave

Analysts have raised their price target on Teradyne to $550 from $470, citing updated models that reflect stronger SCE backlog visibility, higher projected wafer fab equipment spending, and larger long term estimates for the semiconductor industry’s addressable market. Analyst Commentary Recent research on Teradyne points to a cluster of higher price targets and updated models that lean on longer SCE backlog visibility, wafer fab equipment (WFE) assumptions and larger semiconductor industry addressable market forecasts.
ENTG
US$134.60
Entegris
7D
-7.9%
1Y
49.1%
KLAC
US$219.37
KLA
7D
-4.4%
1Y
134.1%
Seeking Alpha • Jul 15

I Am Buying KLA Corporation Ahead Of Earnings

Summary I rate KLA Corporation a Strong Buy with a $313 price target, implying 40% upside from $222. KLAC's 58% share in semiconductor process control gives it a dominant position in a part of semiconductor manufacturing that becomes more valuable as chips become harder to produce. My model estimates these drivers can increase revenue from about $14 billion in 2026 to roughly $18.3 billion by 2028 and lift split-adjusted EPS to about $5.3. I arrive at my price target by applying a FWD non-GAAP P/E of 59x to my 2028 split-adjusted EPS of $5.30. My biggest risk is valuation compression because the stock already trades at a large premium to the sector. Nevertheless, I believe KLA’s market leadership, expected EPS growth, margin expansion and free cash flow generation justify a premium valuation. Read the full article on Seeking Alpha
LRCX
US$320.96
Lam Research
7D
-9.1%
1Y
218.4%
AMAT
US$560.93
Applied Materials
7D
-4.7%
1Y
191.4%
MKSI
US$332.00
MKS
7D
-10.0%
1Y
219.4%
AMKR
US$63.02
Amkor Technology
7D
-12.7%
1Y
191.2%
CAMT
US$147.92
Camtek
7D
1.8%
1Y
60.9%
Narrative Update • Jun 30

CAMT: AI Packaging Demand Will Underpin Multi Year HBM Order Visibility

Camtek's analyst fair value estimate has been revised higher from $174.67 to $187.25 as analysts factor in stronger order momentum, higher long term revenue and margin assumptions, and a series of raised Street price targets following the recent Q1 "beat & raise" update. Analyst Commentary Street research on Camtek has turned more constructive around the recent Q1 update, with several firms lifting price targets and refining their expectations on growth, margins, and order trends.