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U.S. Semiconductor Equipment Industry Analysis

UpdatedDec 19, 2025
DataAggregated Company Financials
Companies39
  • 7D-4.0%
  • 3M23.3%
  • 1Y68.4%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has dropped 8.5%, driven by a pullback from Applied Materials of 9.8%. In contrast, Amtech Systems has gained 9.0%. This takes the industry's 12 month performance to a gain of 63%. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Dec 2025US$673.1bUS$95.9bUS$19.0b36x35.4x7x
Sun, 16 Nov 2025US$635.0bUS$95.8bUS$19.0b34.7x33.4x6.6x
Tue, 14 Oct 2025US$557.5bUS$89.4bUS$16.3b32.4x34.1x6.2x
Thu, 11 Sep 2025US$471.3bUS$89.4bUS$16.3b27.8x28.8x5.3x
Sat, 09 Aug 2025US$472.5bUS$89.1bUS$16.2b25.1x29.1x5.3x
Mon, 07 Jul 2025US$485.1bUS$87.0bUS$15.5b29x31.3x5.6x
Wed, 04 Jun 2025US$400.4bUS$87.0bUS$15.5b23.6x25.9x4.6x
Fri, 02 May 2025US$375.3bUS$86.4bUS$15.0b25.4x25x4.3x
Sun, 30 Mar 2025US$375.5bUS$84.8bUS$14.2b28.4x26.4x4.4x
Tue, 25 Feb 2025US$441.2bUS$84.9bUS$14.4b34.6x30.7x5.2x
Thu, 23 Jan 2025US$469.3bUS$83.2bUS$14.6b37.8x32.2x5.6x
Sat, 21 Dec 2024US$401.2bUS$83.2bUS$14.6b26.7x27.5x4.8x
Mon, 18 Nov 2024US$400.4bUS$83.2bUS$14.6b29x27.4x4.8x
Wed, 16 Oct 2024US$455.8bUS$82.5bUS$15.6b27.2x29.2x5.5x
Fri, 13 Sep 2024US$461.6bUS$82.5bUS$15.6b25.3x29.6x5.6x
Sun, 11 Aug 2024US$471.6bUS$82.6bUS$15.7b25x30.1x5.7x
Tue, 09 Jul 2024US$587.0bUS$82.8bUS$13.8b33.9x42.7x7.1x
Thu, 06 Jun 2024US$520.4bUS$82.8bUS$13.8b29.7x37.8x6.3x
Sat, 04 May 2024US$489.6bUS$83.3bUS$13.8b31.5x35.4x5.9x
Mon, 01 Apr 2024US$511.6bUS$84.5bUS$14.2b35.9x36x6.1x
Wed, 28 Feb 2024US$496.8bUS$84.9bUS$14.5b34x34.3x5.9x
Fri, 26 Jan 2024US$458.9bUS$88.5bUS$15.4b25.1x29.8x5.2x
Sun, 24 Dec 2023US$434.4bUS$90.1bUS$15.9b25.7x27.3x4.8x
Tue, 21 Nov 2023US$389.7bUS$90.0bUS$15.9b24.5x24.5x4.3x
Thu, 19 Oct 2023US$371.9bUS$93.9bUS$17.0b24.8x21.9x4x
Sat, 16 Sep 2023US$382.0bUS$93.9bUS$17.0b24.8x22.5x4.1x
Mon, 14 Aug 2023US$381.6bUS$94.0bUS$17.0b25.1x22.4x4.1x
Wed, 12 Jul 2023US$388.7bUS$96.1bUS$20.1b19x19.3x4x
Fri, 09 Jun 2023US$390.3bUS$96.1bUS$20.1b18.5x19.4x4.1x
Sun, 07 May 2023US$333.0bUS$95.5bUS$20.3b15.1x16.4x3.5x
Tue, 04 Apr 2023US$351.4bUS$96.1bUS$21.2b16.7x16.6x3.7x
Thu, 02 Mar 2023US$343.3bUS$96.1bUS$21.2b15.7x16.2x3.6x
Sat, 28 Jan 2023US$340.5bUS$93.9bUS$21.2b17x16.1x3.6x
Mon, 26 Dec 2022US$314.4bUS$92.3bUS$20.7b14.6x15.2x3.4x
Price to Earnings Ratio

15.2x


Total Market Cap: US$314.4bTotal Earnings: US$20.7bTotal Revenue: US$92.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 27.6x202320242025
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 36.8x which is higher than its 3-year average PE of 27.6x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 7.3x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have declined 2.7% 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-2.05%
Tech-4.31%
Semiconductors-6.83%
Semiconductor Equipment-4.02%
Semiconductors-7.08%
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$164.702.6%
+US$5.3b		129.4%PE35.6x
KLAC KLAUS$1.22k2.4%
+US$3.7b		94.2%PE37.9x
ENPH Enphase EnergyUS$32.962.4%
+US$102.1m		-53.9%PE22.1x
MKSI MKSUS$157.010.8%
+US$83.3m		51.7%PE37.8x
Q Qnity ElectronicsUS$79.030.1%
+US$18.9m		n/aPE20.6x

Latest News

LRCX
US$164.70
Lam Research
7D
2.6%
1Y
129.4%
FORM
US$55.01
FormFactor
7D
-5.4%
1Y
29.6%
KLAC
US$1,222.39
KLA
7D
2.4%
1Y
94.2%
PLAB
US$32.87
Photronics
7D
-17.1%
1Y
34.7%
AMKR
US$39.30
Amkor Technology
7D
-16.5%
1Y
56.4%
ASYS
US$11.98
Amtech Systems
7D
9.0%
1Y
112.0%

Amtech Systems: In Vogue, And With Good Reason, But Don't Chase Now

Dec 17
AMAT
US$253.50
Applied Materials
7D
-2.2%
1Y
55.0%
NVMI
US$312.78
Nova
7D
-6.9%
1Y
60.5%

NVMI: Rising DRAM Fab Spending Will Strengthen Future AI Computing Position

Analysts have raised their price target on Nova to $390 from $300, citing improved visibility into DRAM fab investment, stronger positioning in AI computing, and slightly better long-term profitability despite modestly lower growth and a marginally higher discount rate. Analyst Commentary Recent research updates on Nova highlight a constructive outlook on the company’s positioning in memory and AI end markets, while also flagging areas of execution and cycle risk that could influence how the new valuation framework plays out.
MKSI
US$157.01
MKS
7D
0.8%
1Y
51.7%

MKSI: DRAM And Wafer Fab Upswing Will Drive Strong 2025 To 2027 Cycle

Analysts have lifted our MKS fair value estimate to $200 from $152.52 as they factor in higher long term revenue growth, expanding profit margins, and a richer future P/E multiple, which is supported by a wave of recent price target increases and growing confidence in the company’s setup into 2025 to 2027. Analyst Commentary Bullish analysts have been steadily lifting their price targets on MKS, highlighting improved execution across core segments and a stronger multiyear earnings trajectory.
DQ
US$32.27
Daqo New Energy
7D
0.03%
1Y
84.3%

DQ: Industry Stabilization And Anti Involution Policy Will Test Margin Recovery Prospects

Analysts have raised their price target on Daqo New Energy by $11 to $25 per share, citing expectations that industry stabilization and potential cash cost breakeven in Q3 could mark an earnings inflection point, despite recent below-cost sales and lowered 2025 production guidance. Analyst Commentary Street research points to a more constructive outlook on Daqo New Energy, even as near term fundamentals remain challenging.
CAMT
US$101.71
Camtek
7D
-9.1%
1Y
22.0%

CAMT: Advanced Packaging And HBM Demand Will Drive Strong Future Upside

Analysts modestly lift our fair value estimate for Camtek from $120 to approximately $143 per share, as they balance slightly softer near term growth expectations with stronger long term profitability from advanced packaging and HBM4 driven demand. Analyst Commentary Recent Street research reflects a broadly constructive view on Camtek, with most bullish analysts highlighting resilient execution, solid near term performance, and a strengthening multi year growth runway tied to advanced packaging and HBM adoption.
ENPH
US$32.96
Enphase Energy
7D
2.4%
1Y
-53.9%

ENPH: Residential Solar Recovery And Cash Flow Visibility Will Drive Future Upside

Analysts slightly trimmed their blended price target on Enphase Energy by about $1 to the mid $30s, as cautious views on continued revenue contraction and modestly lower profit expectations offset incremental optimism from select firms citing improving conditions in residential solar. Analyst Commentary Recent research updates highlight a divided but slowly improving sentiment around Enphase, with modest target changes reflecting balancing views on execution risk and recovery potential in residential solar.
TER
US$190.45
Teradyne
7D
-6.6%
1Y
52.1%

TER: AI Test Demand And Robotics Expansion Will Drive Measured Upside Through 2027

Analysts have lifted their fair value estimate for Teradyne from $184.69 to $192.38, citing stronger multiyear AI testing demand, improving revenue growth and margins, and higher expected future earnings power reflected in a richer forward P E multiple. Analyst Commentary Recent Street research updates point to a sharp improvement in sentiment around Teradyne, with multiple firms raising price targets and, in some cases, upgrading ratings as AI driven test demand and Industrial Automation momentum become more visible through 2026 and beyond.
Q
US$79.03
Qnity Electronics
7D
0.1%
1Y
n/a
ENTG
US$84.55
Entegris
7D
-8.6%
1Y
-15.0%

ENTG: AI Materials Demand And New U.S. Facility Will Drive Upside

Analysts have modestly trimmed their price target on Entegris by about $1 to roughly $100 per share, citing slightly lower assumed discount rates and a marginally less demanding future P E multiple, while leaving long term growth and margin expectations intact. Analyst Commentary Recent commentary on the sector highlights Entegris as one of only a few pure play electronic chemicals and materials providers, a positioning that investors increasingly view as strategically valuable as semiconductor capital spending and AI related demand scale up.
TRT
US$10.07
Trio-Tech International
7D
4.8%
1Y
62.7%