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U.S. Semiconductor Equipment Industry Analysis

UpdatedMay 01, 2026
DataAggregated Company Financials
Companies39
  • 7D-2.6%
  • 3M21.5%
  • 1Y192.2%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has dropped 2.6%, and Teradyne contributed the most with a 14% decline. On the other hand AXT is actually up 5.2%. This takes the industry's 12 month performance to a gain of 192%. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 01 May 2026US$1.1tUS$100.3bUS$21.7b48.6x49.8x10.8x
Sun, 29 Mar 2026US$907.9bUS$97.8bUS$20.8b42x43.7x9.3x
Tue, 24 Feb 2026US$998.4bUS$97.8bUS$20.8b40.3x48.1x10.2x
Thu, 22 Jan 2026US$911.3bUS$95.9bUS$19.0b48.3x47.9x9.5x
Sat, 20 Dec 2025US$699.0bUS$95.9bUS$19.0b37.8x36.7x7.3x
Mon, 17 Nov 2025US$635.0bUS$95.8bUS$19.0b34.7x33.4x6.6x
Wed, 15 Oct 2025US$585.1bUS$89.4bUS$16.3b32.6x35.8x6.5x
Fri, 12 Sep 2025US$479.1bUS$89.4bUS$16.3b28.3x29.3x5.4x
Sun, 10 Aug 2025US$478.5bUS$89.1bUS$16.2b25.1x29.5x5.4x
Tue, 08 Jul 2025US$485.1bUS$87.0bUS$15.5b28.6x31.3x5.6x
Thu, 05 Jun 2025US$409.6bUS$87.0bUS$15.5b24.6x26.5x4.7x
Sat, 03 May 2025US$370.8bUS$86.4bUS$15.0b25.7x24.8x4.3x
Mon, 31 Mar 2025US$375.5bUS$84.8bUS$14.2b28.4x26.4x4.4x
Wed, 26 Feb 2025US$434.6bUS$85.1bUS$14.4b33.6x30.2x5.1x
Fri, 24 Jan 2025US$474.6bUS$83.2bUS$14.6b36.6x32.5x5.7x
Sun, 22 Dec 2024US$405.8bUS$83.2bUS$14.6b26.7x27.8x4.9x
Tue, 19 Nov 2024US$400.4bUS$83.2bUS$14.6b29x27.4x4.8x
Thu, 17 Oct 2024US$444.1bUS$82.5bUS$15.6b26.5x28.5x5.4x
Sat, 14 Sep 2024US$452.6bUS$82.5bUS$15.6b25.4x29x5.5x
Mon, 12 Aug 2024US$471.6bUS$82.6bUS$15.7b25x30.1x5.7x
Wed, 10 Jul 2024US$596.1bUS$82.8bUS$13.8b34.4x43.3x7.2x
Fri, 07 Jun 2024US$545.9bUS$82.8bUS$13.8b28.5x39.7x6.6x
Sun, 05 May 2024US$498.4bUS$83.3bUS$13.8b31.5x36x6x
Tue, 02 Apr 2024US$511.6bUS$84.5bUS$14.2b36.1x36x6.1x
Thu, 29 Feb 2024US$493.7bUS$84.9bUS$14.5b33.9x34.1x5.8x
Sat, 27 Jan 2024US$460.0bUS$88.0bUS$15.0b24.9x30.7x5.2x
Mon, 25 Dec 2023US$434.4bUS$90.1bUS$15.9b25.7x27.3x4.8x
Wed, 22 Nov 2023US$389.7bUS$90.0bUS$15.9b24.5x24.5x4.3x
Fri, 20 Oct 2023US$354.6bUS$92.3bUS$16.4b23.2x21.6x3.8x
Sun, 17 Sep 2023US$365.7bUS$93.9bUS$17.0b24.8x21.6x3.9x
Tue, 15 Aug 2023US$389.6bUS$94.0bUS$17.0b25.5x22.9x4.1x
Thu, 13 Jul 2023US$393.9bUS$96.1bUS$20.1b19.2x19.6x4.1x
Sat, 10 Jun 2023US$386.8bUS$96.1bUS$20.1b18.2x19.2x4x
Mon, 08 May 2023US$333.0bUS$95.5bUS$20.3b15.1x16.4x3.5x
Price to Earnings Ratio

16.4x


Total Market Cap: US$333.0bTotal Earnings: US$20.3bTotal Revenue: US$95.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 31.3x202420252026
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 49.8x which is higher than its 3-year average PE of 31.3x.
  • The 3-year average PS ratio of 5.8x is lower than the industry's current PS ratio of 10.8x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have grown 2.3% 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 Market0.59%
Tech-0.62%
Semiconductors-0.20%
Semiconductor Equipment-2.65%
Semiconductors0.08%
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
AXTI AXTUS$79.225.2%
+US$246.4m		5,768.1%PS55.9x
MKSI MKSUS$283.751.1%
+US$214.8m		296.1%PE64.8x
ONTO Onto InnovationUS$295.060.9%
+US$136.8m		144.4%PE107.3x
Q Qnity ElectronicsUS$140.660.4%
+US$111.0m		n/aPE42.6x
COHU CohuUS$47.353.9%
+US$84.0m		194.6%PS4.9x

Latest News

TER
US$343.47
Teradyne
7D
-14.3%
1Y
365.5%

Earnings Beat: Teradyne, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

May 01
Earnings Beat: Teradyne, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
KLAC
US$1,750.35
KLA
7D
-3.6%
1Y
158.8%
FORM
US$135.93
FormFactor
7D
-8.4%
1Y
369.2%
ENTG
US$141.38
Entegris
7D
-5.3%
1Y
78.3%
AMKR
US$69.75
Amkor Technology
7D
-4.3%
1Y
299.0%

Amkor Technology: Q1 Beats Across The Board, Showing Massive Room For AI Packaging Acceleration

Apr 30
ALMU
US$23.29
Aeluma
7D
24.5%
1Y
95.7%
AXTI
US$79.22
AXT
7D
5.2%
1Y
5,768.1%

AXTI: Future InP Substrate Demand Will Outweigh Near Term Export Constraints

Narrative Update on AXT The analyst price target for AXT has moved from $45 to $90, with analysts pointing to higher assumed profit margins, an increased future P/E multiple, and stronger long term InP substrate demand expectations supported by recent capacity and capex plans at major optical and cloud players. Analyst Commentary Recent Street research on AXT highlights a mix of optimism on long term InP substrate demand and some short term caution around export related constraints.
LRCX
US$257.86
Lam Research
7D
-0.3%
1Y
259.5%
COHU
US$47.35
Cohu
7D
3.9%
1Y
194.6%
MKSI
US$283.75
MKS
7D
1.1%
1Y
296.1%

MKSI: Wafer Fab Upswing And Refinancing Tailwinds Will Eventually Limit Upside

The analyst price target for MKS has been reset lower to $212.72 from $227.99 as analysts balance stronger revenue growth and profit margin assumptions with a slightly lower future P/E multiple and an updated fair value estimate. Analyst Commentary Recent research on MKS has centered on how to balance a higher fundamental outlook with valuation discipline.
AMAT
US$394.49
Applied Materials
7D
-2.3%
1Y
164.8%

AMAT: Future Packaging Demand And WFE Cycle Strength Will Shape Returns

Applied Materials' updated analyst price target has edged higher, with fair value moving from about $398.73 to $422.97 as analysts factor in slightly stronger revenue growth, a modestly higher profit margin outlook, and a richer future P/E assumption, partly supported by a broad wave of recent price target hikes and upgrades across the Street. Analyst Commentary Recent Street research around Applied Materials has been active, with a long list of price target increases and several rating upgrades clustered around recent results and guidance.
NVMI
US$500.43
Nova
7D
-4.3%
1Y
155.8%

NVMI: Metrology Intensity And WFE Cycles Will Shape Future Free Cash Flow

Analysts have lifted their average price target for Nova to around the high $400s, citing multiple avenues of growth in metrology tools across both front and back-end wafer fab equipment as a key support for this shift. Analyst Commentary Recent research notes highlight a generally constructive stance on Nova, with price targets clustered in the mid to high US$400s and a focus on how the company executes against growing metrology needs across wafer fabrication.
ONTO
US$295.06
Onto Innovation
7D
0.9%
1Y
144.4%
KLIC
US$85.50
Kulicke and Soffa Industries
7D
1.0%
1Y
165.4%
ATOM
US$8.18
Atomera
7D
32.1%
1Y
83.4%
Q
US$140.66
Qnity Electronics
7D
0.4%
1Y
n/a