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U.S. Semiconductor Equipment Industry Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies39
  • 7D2.1%
  • 3M54.5%
  • 1Y228.5%
  • YTDn/a

In the last week, the Semiconductor Equipment industry is up 6.4%, with Applied Materials up 3.1%. Meanwhile, AXT actually underperformed within the industry, shrinking 16% in the last week. This means that the industry has gained 276% over the past year. Earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026US$1.7tUS$101.7bUS$22.6b77x74.4x16.5x
Fri, 22 May 2026US$1.2tUS$101.7bUS$22.5b64.7x52.6x11.7x
Sun, 19 Apr 2026US$1.1tUS$97.8bUS$20.8b52.6x54x11.5x
Tue, 17 Mar 2026US$901.7bUS$97.8bUS$20.8b41.7x43.4x9.2x
Thu, 12 Feb 2026US$933.3bUS$97.6bUS$19.9b42.5x47x9.6x
Sat, 10 Jan 2026US$802.1bUS$95.9bUS$19.0b44.1x42.1x8.4x
Mon, 08 Dec 2025US$708.6bUS$95.9bUS$19.0b38.4x37.3x7.4x
Wed, 05 Nov 2025US$685.7bUS$91.2bUS$17.0b33.7x40.4x7.5x
Fri, 03 Oct 2025US$606.9bUS$89.4bUS$16.3b34.3x37.1x6.8x
Sun, 31 Aug 2025US$456.2bUS$89.4bUS$16.3b27.1x27.9x5.1x
Tue, 29 Jul 2025US$473.7bUS$87.1bUS$15.5b27.1x30.6x5.4x
Thu, 26 Jun 2025US$461.4bUS$87.0bUS$15.5b27.8x29.8x5.3x
Sat, 24 May 2025US$403.5bUS$87.0bUS$15.5b22.7x26x4.6x
Mon, 21 Apr 2025US$341.9bUS$84.9bUS$14.2b24.2x24.1x4x
Wed, 19 Mar 2025US$405.1bUS$84.8bUS$14.2b30.3x28.5x4.8x
Fri, 14 Feb 2025US$445.3bUS$84.7bUS$15.4b35x28.9x5.3x
Sun, 12 Jan 2025US$426.9bUS$83.2bUS$14.6b33.9x29.3x5.1x
Tue, 10 Dec 2024US$425.5bUS$83.2bUS$14.6b28.2x29.2x5.1x
Thu, 07 Nov 2024US$438.5bUS$83.3bUS$16.0b27x27.4x5.3x
Sat, 05 Oct 2024US$481.7bUS$82.5bUS$15.6b26x30.9x5.8x
Mon, 02 Sep 2024US$496.0bUS$82.5bUS$15.6b26.8x31.8x6x
Wed, 31 Jul 2024US$509.1bUS$82.7bUS$13.9b27.8x36.7x6.2x
Fri, 28 Jun 2024US$564.6bUS$82.8bUS$13.8b27.6x41x6.8x
Sun, 26 May 2024US$541.0bUS$82.8bUS$13.8b28.8x39.3x6.5x
Tue, 23 Apr 2024US$459.7bUS$84.5bUS$14.2b32.1x32.4x5.4x
Thu, 21 Mar 2024US$492.3bUS$84.5bUS$14.2b35x34.7x5.8x
Sat, 17 Feb 2024US$480.8bUS$85.5bUS$14.8b30.3x32.5x5.6x
Mon, 15 Jan 2024US$410.1bUS$90.1bUS$15.9b24.7x25.8x4.6x
Wed, 13 Dec 2023US$408.4bUS$90.0bUS$15.9b24.3x25.7x4.5x
Fri, 10 Nov 2023US$365.4bUS$90.2bUS$15.6b22.4x23.5x4.1x
Sun, 08 Oct 2023US$369.9bUS$93.9bUS$17.0b24.8x21.8x3.9x
Tue, 05 Sep 2023US$409.3bUS$93.9bUS$17.0b27x24.1x4.4x
Thu, 03 Aug 2023US$404.2bUS$94.6bUS$19.7b22.3x20.6x4.3x
Sat, 01 Jul 2023US$404.2bUS$96.1bUS$20.1b20.1x20.1x4.2x
Price to Earnings Ratio

20.1x


Total Market Cap: US$404.2bTotal 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 33.2x202420252026
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 71.6x which is higher than its 3-year average PE of 33.2x.
  • The 3-year average PS ratio of 6.2x is lower than the industry's current PS ratio of 15.9x.
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-2.31%
Tech-1.40%
Semiconductors0.37%
Semiconductor Equipment2.12%
Semiconductors0.12%
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
AMAT Applied MaterialsUS$585.883.1%
+US$14.0b		225.2%PE54.7x
KLAC KLAUS$244.493.0%
+US$9.4b		175.0%PE68.4x
ENTG EntegrisUS$168.2211.0%
+US$2.5b		105.8%PE96.9x
LRCX Lam ResearchUS$371.330.5%
+US$2.5b		288.3%PE69.2x
Q Qnity ElectronicsUS$161.195.9%
+US$1.9b		n/aPE51.9x

Latest News

MKSI
US$389.17
MKS
7D
6.2%
1Y
297.8%
ENPH
US$47.22
Enphase Energy
7D
-6.0%
1Y
23.0%
AMAT
US$585.88
Applied Materials
7D
3.1%
1Y
225.2%
AXTI
US$77.91
AXT
7D
-16.3%
1Y
3,756.9%
Q
US$161.19
Qnity Electronics
7D
5.9%
1Y
n/a
KLAC
US$244.49
KLA
7D
3.0%
1Y
175.0%
TER
US$420.12
Teradyne
7D
2.6%
1Y
364.8%
LRCX
US$371.33
Lam Research
7D
0.5%
1Y
288.3%
Seeking Alpha • Jun 22

Lam Research: A Strong Buy Built On Memory, Packaging And AI Complexity

Summary I'm rating Lam Research a Strong Buy with a $497 price target, implying 28% upside from $389. My growth drivers are AI-driven WFE and SAM expansion, NAND conversion spending, DRAM and HBM-related deposition intensity, advanced packaging growth, and CSBG services. Together, I estimate these growth drivers can add about $1.11 of incremental EPS and drive the forward non-GAAP EPS to $7.26. I arrive at my price target by applying a FWD non-GAAP P/E multiple of 68.49x to my FWD non-GAAP EPS of $7.26. The main risks are WFE cyclicality, memory spending delays, China/export control exposure, and valuation compression. Even with the risks, I believe LRCX has enough growth engines to keep earnings moving higher, and that is why I believe the premium valuation is justified. Read the full article on Seeking Alpha
ACMR
US$109.87
ACM Research
7D
15.4%
1Y
345.2%
Narrative Update • Jun 22

ACMR: Reliance On China Tool Demand Will Restrain 2026 Upside Potential

ACM Research's analyst fair value estimate has been nudged higher to $88.63 from $85.06, following recent price target increases that reference continued China tool demand, expectations for broader customer diversification, and potential contribution from emerging front end and back end products. Analyst Commentary Recent research on ACM Research points to a generally constructive stance from bullish analysts, with higher price targets linked to expectations around tool demand, product breadth, and customer mix.
SEDG
US$52.36
SolarEdge Technologies
7D
-4.2%
1Y
174.3%
Narrative Update • Jun 22

SEDG: SST Hype And Rate Headwinds Will Likely Pressure Rich Multiple

The analyst price target for SolarEdge Technologies has moved higher to $26.00, with analysts pointing to progress on solid state transformer initiatives, optimism around the Nexis launch, and a mix of supportive and cautious views on recent share price strength as key drivers of the updated fair value and valuation assumptions. Analyst Commentary Recent research on SolarEdge Technologies reflects a split view, with some analysts highlighting progress on solid state transformer, or SST, projects and the Nexis platform, while others flag valuation and execution risks after a sharp move in the stock.
CAMT
US$195.16
Camtek
7D
-1.3%
1Y
160.7%
Analysis Article • Jun 21

Camtek (CAMT) Stock Could Be 11.7% Overvalued After Fresh AI Driven Investor Attention

Camtek event and renewed investor attention Camtek (NasdaqGM:CAMT) has drawn fresh interest after Wasatch Global Investors credited the stock as a key contributor in its Small Cap Growth Strategy, linking performance to AI related semiconductor demand and recently disclosed shelf registration plans. See our latest analysis for Camtek. At a share price of $195.16, Camtek has seen a 16.60% 1 month share price return and a 68.97% year to date share price return, while its 1 year total...
ACLS
US$171.06
Axcelis Technologies
7D
-3.3%
1Y
145.6%
AEHR
US$102.39
Aehr Test Systems
7D
-2.3%
1Y
755.4%
Analysis Article • Jun 19

Aehr Test Systems (AEHR) Stock Could Be 531.1% Overvalued After AI Data Center Order

Aehr Test Systems (AEHR) is back in focus after securing a follow-on production order for its fully automated FOX-XP wafer-level burn-in system from a leading networking customer that is expanding hyperscale and AI-driven data centers. See our latest analysis for Aehr Test Systems. The latest FOX-XP order lands as Aehr Test Systems rides very strong momentum, with a 30-day share price return of 42.11% and a 90-day share price return of 234.01%. The one-year total shareholder return is...
NVMI
US$527.88
Nova
7D
-4.1%
1Y
112.4%
ENTG
US$168.22
Entegris
7D
11.0%
1Y
105.8%
Narrative Update • Jun 17

ENTG: AI Materials Will Balance WFE Upcycle Promise With Cycle Sensitivity Risks

Analysts have lifted their Entegris price targets by up to $20, with recent updates pointing to higher wafer fab equipment expectations and viewing the company as well positioned for a longer WFE upcycle. Analyst Commentary Recent Street research on Entegris centers on higher price targets tied to wafer fab equipment expectations and how the company might perform if the WFE cycle extends.
DQ
US$13.47
Daqo New Energy
7D
-8.9%
1Y
-6.0%