Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Semiconductor Equipment Industry Analysis

UpdatedAug 10, 2026
DataAggregated Company Financials
Companies38
  • 7D5.9%
  • 3M10.1%
  • 1Y171.6%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has risen 5.9%, driven by gains in Lam Research and KLA of 5.7% and 8.4%, respectively. Meanwhile, SolarEdge Technologies actually underperformed within the industry, shrinking 30% in the last week. This means that the industry has gained 172% over the past year. 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
Mon, 10 Aug 2026US$1.3tUS$106.2bUS$24.3b52.6x54.2x12.4x
Wed, 08 Jul 2026US$1.5tUS$101.7bUS$22.6b71.9x64.9x14.4x
Fri, 05 Jun 2026US$1.4tUS$101.7bUS$22.6b68.5x60.9x13.5x
Sun, 03 May 2026US$1.1tUS$100.3bUS$21.8b48.2x50.3x10.9x
Tue, 31 Mar 2026US$881.3bUS$97.8bUS$20.8b40x42.4x9x
Thu, 26 Feb 2026US$1.0tUS$97.7bUS$20.8b42.2x49.1x10.4x
Sat, 24 Jan 2026US$900.3bUS$95.9bUS$19.0b47x47.3x9.4x
Mon, 22 Dec 2025US$716.3bUS$95.9bUS$19.0b37.8x37.6x7.5x
Wed, 19 Nov 2025US$626.4bUS$95.8bUS$19.0b33.6x33x6.5x
Fri, 17 Oct 2025US$608.9bUS$89.4bUS$16.3b33.5x37.3x6.8x
Sun, 14 Sep 2025US$497.5bUS$89.4bUS$16.3b28.6x30.4x5.6x
Tue, 12 Aug 2025US$478.3bUS$89.1bUS$16.2b25.2x29.5x5.4x
Thu, 10 Jul 2025US$488.4bUS$87.0bUS$15.5b31.3x31.6x5.6x
Sat, 07 Jun 2025US$415.6bUS$87.0bUS$15.5b24.9x26.8x4.8x
Mon, 05 May 2025US$384.3bUS$86.4bUS$15.0b26.4x25.7x4.5x
Wed, 02 Apr 2025US$375.9bUS$84.8bUS$14.2b28.4x26.5x4.4x
Fri, 28 Feb 2025US$431.4bUS$85.1bUS$14.4b32.4x29.9x5.1x
Sun, 26 Jan 2025US$457.1bUS$83.2bUS$14.6b36.2x31.3x5.5x
Tue, 24 Dec 2024US$405.8bUS$83.2bUS$14.6b27.7x27.8x4.9x
Thu, 21 Nov 2024US$401.9bUS$83.2bUS$14.6b28.7x27.5x4.8x
Sat, 19 Oct 2024US$440.2bUS$82.5bUS$15.6b26.3x28.2x5.3x
Mon, 16 Sep 2024US$465.2bUS$82.5bUS$15.6b25.4x29.8x5.6x
Wed, 14 Aug 2024US$475.2bUS$82.6bUS$15.7b25.1x30.4x5.8x
Fri, 12 Jul 2024US$614.0bUS$82.8bUS$13.8b33.4x44.6x7.4x
Sun, 09 Jun 2024US$537.3bUS$82.8bUS$13.8b28.8x39.1x6.5x
Tue, 07 May 2024US$509.7bUS$83.3bUS$13.8b31.5x36.9x6.1x
Thu, 04 Apr 2024US$512.2bUS$84.5bUS$14.2b35.8x36.1x6.1x
Sat, 02 Mar 2024US$497.5bUS$84.5bUS$14.2b36x35x5.9x
Mon, 29 Jan 2024US$442.2bUS$88.0bUS$15.0b24.9x29.5x5x
Wed, 27 Dec 2023US$434.4bUS$90.1bUS$15.9b26.2x27.3x4.8x
Fri, 24 Nov 2023US$392.0bUS$90.0bUS$15.9b24.3x24.6x4.4x
Sun, 22 Oct 2023US$348.5bUS$92.3bUS$16.4b23x21.2x3.8x
Tue, 19 Sep 2023US$369.5bUS$93.9bUS$17.0b24.8x21.8x3.9x
Thu, 17 Aug 2023US$376.7bUS$94.0bUS$17.0b24.8x22.1x4x
Price to Earnings Ratio

22.1x


Total Market Cap: US$376.7bTotal Earnings: US$17.0bTotal Revenue: US$94.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 35x202420252026
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 54.2x which is higher than its 3-year average PE of 35.0x.
  • The 3-year average PS ratio of 6.6x is lower than the industry's current PS ratio of 12.4x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 4.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

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

US Market2.74%
Tech6.05%
Semiconductors7.85%
Semiconductor Equipment5.89%
Semiconductors8.08%
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$311.355.7%
+US$21.0b		205.2%PE53.6x
KLAC KLAUS$198.118.4%
+US$20.1b		117.7%PE53.6x
AMAT Applied MaterialsUS$539.144.0%
+US$16.6b		192.4%PE50.3x
ENTG EntegrisUS$152.0821.5%
+US$4.1b		111.1%PE76.1x
TER TeradyneUS$379.313.7%
+US$2.1b		262.4%PE51.6x

Latest News

TER
US$379.31
Teradyne
7D
3.7%
1Y
262.4%
KLAC
US$198.11
KLA
7D
8.4%
1Y
117.7%
MKSI
US$304.99
MKS
7D
-1.6%
1Y
210.7%
Analysis Article • Aug 09

Results: MKS Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts

MKS Inc. ( NASDAQ:MKSI ) investors will be delighted, with the company turning in some strong numbers with its latest...
AMKR
US$55.27
Amkor Technology
7D
8.7%
1Y
138.7%
ENTG
US$152.08
Entegris
7D
21.5%
1Y
111.1%
Analysis Article • Aug 08

Entegris, Inc. Just Beat Revenue Estimates By 5.8%

Entegris, Inc. ( NASDAQ:ENTG ) investors will be delighted, with the company turning in some strong numbers with its...
ONTO
US$308.30
Onto Innovation
7D
14.8%
1Y
194.6%
LRCX
US$311.35
Lam Research
7D
5.7%
1Y
205.2%
Narrative Update • Aug 07

LRCX: AI WFE Upswing And Richer Long-Term Multiples Will Test Resilience

The Lam Research fair value estimate has moved from $222.79 to $290.00 as analysts weigh slightly higher discount assumptions against stronger profit margin expectations and higher long term P/E multiples, supported by upbeat wafer fab equipment demand commentary and long range earnings targets across recent research updates. Analyst Commentary Recent research on Lam Research reflects a mix of optimism on long term wafer fab equipment demand and more cautious adjustments tied to valuation and execution risk.
NVMI
US$393.02
Nova
7D
-0.2%
1Y
44.3%
Narrative Update • Aug 07

NVMI: Advanced Packaging And Hybrid Bonding Momentum Will Drive Future Cash Generation

The analyst price target for Nova is revised from $597.63 to $574.50 as analysts weigh slightly higher modeled growth and margins against a lower future P/E assumption and recent Street target adjustments clustered around $600. Analyst Commentary Recent Street research on Nova clusters around price targets in the high US$500s to US$600 range, with most adjustments tied to how analysts view the company’s growth drivers, margin profile, and current valuation multiples.
ASYS
US$15.53
Amtech Systems
7D
-1.1%
1Y
226.9%
Seeking Alpha • Aug 07

Amtech Systems: AI Demand Is Proven, But Now The Cash Justifies Itself

Summary Amtech Systems delivered a strong Q3, with revenue and gross margin reaching the upper end of guidance and orders accelerating. ASYS’s shift toward advanced semiconductor packaging and AI-related business is driving higher margins and improved profitability, while weaker SiC segments are shrinking. A recent $60 million equity raise and CEO transition signal a new phase, but the deployment of excess cash remains uncertain. I rate ASYS a Hold, as valuation is not compelling until management demonstrates a clear, value-accretive capital allocation strategy. Read the full article on Seeking Alpha
SEDG
US$31.76
SolarEdge Technologies
7D
-29.6%
1Y
27.6%
Narrative Update • Aug 06

SEDG: Policy Hype And Weak Residential Demand Will Pressure Rich Multiple

Analysts have trimmed the updated fair value estimate for SolarEdge Technologies, with the target shifting to $24.00. This change reflects mixed Street price target revisions, more cautious assumptions on revenue growth and profit margins, and a very large implied future P/E multiple amid ongoing debates about demand, policy risk, and valuation.
UCTT
US$87.25
Ultra Clean Holdings
7D
-2.2%
1Y
294.6%
Narrative Update • Aug 05

UCTT: WFE Upcycle And AI Demand Will Drive Next Phase

Analysts have lifted their fair value estimate for Ultra Clean Holdings from $113.40 to $137.00, citing higher price targets backed by recent results, revised revenue and margin assumptions, and confidence in the company’s ability to execute as wafer fab equipment demand builds. Analyst Commentary Recent Street research around Ultra Clean Holdings highlights a clear tilt toward optimism, with several firms lifting price targets and pointing to what they see as strong execution against a growing wafer fab equipment backdrop.
ICHR
US$68.32
Ichor Holdings
7D
-14.8%
1Y
325.4%
Narrative Update • Aug 05

ICHR: Up Cycle Margin Hopes Will Rely On Structural Changes

Analysts have reset the fair value estimate for Ichor Holdings to $80 from $60, highlighting recent shifts in price targets alongside mixed quarterly results, expectations for low double digit quarter over quarter growth, and ongoing structural changes at the company. Analyst Commentary Recent Street research on Ichor Holdings shows a more cautious tone even as some targets remain well above current trading levels.
AXTI
US$88.58
AXT
7D
29.0%
1Y
3,963.3%
AMAT
US$539.14
Applied Materials
7D
4.0%
1Y
192.4%
Seeking Alpha • Jul 31

Applied Materials: Why I'm Maintaining A 'Strong Buy' After A 45% Run

Summary Applied Materials remains a "Strong Buy" after a 45% rally, driven by robust Q2 results and sector momentum. Q2 revenue reaccelerated to $7.91 billion (+11% YoY), with a record 31.9% operating margin, and raised the 2026 semiconductor equipment growth outlook to 30%+. Management's improved revenue visibility, strategic NEXX acquisition, and deepening EPIC Center partnerships strengthen AMAT’s competitive moat and growth prospects. I raise my fair GAAP PE multiple to 45x–55x, with AMAT trading at the lower end (47x), supporting further upside despite geopolitical risks. Read the full article on Seeking Alpha