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U.S. Semiconductor Equipment Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies38
  • 7D2.8%
  • 3M51.7%
  • 1Y126.6%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has risen 2.8%, driven by gains from Applied Materials of 5.2%. This means that the industry has gained 127% over the past year. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026US$998.4bUS$97.8bUS$20.8b40.3x48.1x10.2x
Fri, 23 Jan 2026US$917.2bUS$95.9bUS$19.0b47.1x48.2x9.6x
Sun, 21 Dec 2025US$716.3bUS$95.9bUS$19.0b37.8x37.6x7.5x
Tue, 18 Nov 2025US$635.0bUS$95.8bUS$19.0b34.4x33.4x6.6x
Thu, 16 Oct 2025US$584.6bUS$89.4bUS$16.3b34.1x35.8x6.5x
Sat, 13 Sep 2025US$497.3bUS$89.4bUS$16.3b28.6x30.4x5.6x
Mon, 11 Aug 2025US$478.5bUS$89.1bUS$16.2b25.1x29.5x5.4x
Wed, 09 Jul 2025US$480.2bUS$87.0bUS$15.5b29.1x31x5.5x
Fri, 06 Jun 2025US$413.1bUS$87.0bUS$15.5b24.5x26.7x4.7x
Sun, 04 May 2025US$384.3bUS$86.4bUS$15.0b26.4x25.7x4.4x
Tue, 01 Apr 2025US$375.5bUS$84.8bUS$14.2b28.3x26.4x4.4x
Thu, 27 Feb 2025US$424.1bUS$85.1bUS$14.4b34.3x29.4x5x
Sat, 25 Jan 2025US$465.1bUS$83.2bUS$14.6b36.2x31.9x5.6x
Mon, 23 Dec 2024US$405.8bUS$83.2bUS$14.6b26.7x27.8x4.9x
Wed, 20 Nov 2024US$404.5bUS$83.2bUS$14.6b28.9x27.7x4.9x
Fri, 18 Oct 2024US$443.9bUS$82.5bUS$15.6b26.5x28.5x5.4x
Sun, 15 Sep 2024US$465.2bUS$82.5bUS$15.6b25.4x29.8x5.6x
Tue, 13 Aug 2024US$471.6bUS$82.6bUS$15.7b25.2x30.1x5.7x
Thu, 11 Jul 2024US$603.4bUS$82.8bUS$13.8b34.9x43.9x7.3x
Sat, 08 Jun 2024US$541.0bUS$82.8bUS$13.8b28.8x39.3x6.5x
Mon, 06 May 2024US$498.9bUS$83.3bUS$13.8b31.5x36.1x6x
Wed, 03 Apr 2024US$516.6bUS$84.5bUS$14.2b34.9x36.4x6.1x
Fri, 01 Mar 2024US$487.6bUS$84.5bUS$14.2b34.7x34.3x5.8x
Sun, 28 Jan 2024US$442.2bUS$88.0bUS$15.0b24.9x29.5x5x
Tue, 26 Dec 2023US$434.4bUS$90.1bUS$15.9b25.7x27.3x4.8x
Thu, 23 Nov 2023US$398.2bUS$90.0bUS$15.9b24.2x25x4.4x
Sat, 21 Oct 2023US$348.5bUS$92.3bUS$16.4b23x21.2x3.8x
Mon, 18 Sep 2023US$365.7bUS$93.9bUS$17.0b24.8x21.6x3.9x
Wed, 16 Aug 2023US$383.1bUS$94.0bUS$17.0b24.9x22.5x4.1x
Fri, 14 Jul 2023US$403.6bUS$96.1bUS$20.1b20.8x20.1x4.2x
Sun, 11 Jun 2023US$386.8bUS$96.1bUS$20.1b18.2x19.2x4x
Tue, 09 May 2023US$331.9bUS$95.5bUS$20.3b15.3x16.4x3.5x
Thu, 06 Apr 2023US$335.0bUS$96.1bUS$21.2b15.8x15.8x3.5x
Sat, 04 Mar 2023US$347.0bUS$96.1bUS$21.2b16x16.4x3.6x
Price to Earnings Ratio

16.4x


Total Market Cap: US$347.0bTotal Earnings: US$21.2bTotal Revenue: US$96.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 29.4x202420252026
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 48.1x which is higher than its 3-year average PE of 29.4x.
  • The 3-year average PS ratio of 5.4x is lower than the industry's current PS ratio of 10.2x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Semiconductor Equipment industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Comparison

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

US Market-0.35%
Tech-0.32%
Semiconductors1.93%
Semiconductor Equipment2.78%
Semiconductors1.84%
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$377.935.2%
+US$14.9b		128.3%PE38.3x
LRCX Lam ResearchUS$244.253.7%
+US$10.8b		204.2%PE49.1x
KLAC KLAUS$1.51k2.5%
+US$4.8b		107.8%PE43.3x
TER TeradyneUS$329.097.7%
+US$3.7b		195.5%PE93x
NVMI NovaUS$455.022.9%
+US$1.3b		81.7%PE55.8x

Latest News

MKSI
US$251.41
MKS
7D
-4.4%
1Y
161.8%
PLAB
US$37.99
Photronics
7D
-1.6%
1Y
83.5%
UCTT
US$71.96
Ultra Clean Holdings
7D
29.4%
1Y
177.8%
ATOM
US$5.31
Atomera
7D
-7.4%
1Y
-0.8%
ACLS
US$81.77
Axcelis Technologies
7D
-17.0%
1Y
31.9%

ACLS: Multi Year Demand Visibility And Memory Upside Will Shape Cash Flows

Axcelis Technologies' analyst fair value estimate has been trimmed by $6.50 to $92.00 as analysts factor in lower long term profit margin assumptions and reduced sales and EPS forecasts, even as they reflect higher revenue growth and a slightly higher future P/E multiple in their updated models. Analyst Commentary Recent Street research on Axcelis Technologies reflects a mix of optimism about longer term demand drivers and caution around nearer term execution and earnings power.
KLAC
US$1,506.65
KLA
7D
2.5%
1Y
107.8%

KLA Corporation (KLAC) The Precision Arbitrator: Securing the AI Frontier

KLA Corporation (KLAC) stands as the indispensable gatekeeper of the semiconductor world, currently trading at $1,496.00 as of the market close on February 20, 2026. As chip architectures move toward 2nm and beyond, the "process control intensity"—the amount of inspection and measurement required per wafer—is skyrocketing.
AMAT
US$377.93
Applied Materials
7D
5.2%
1Y
128.3%
TER
US$329.09
Teradyne
7D
7.7%
1Y
195.5%

TER: AI Test Demand And Wafer Fab Spending Upswing Will Drive Outlook

Our Teradyne fair value estimate edges up by about $1 to $397.65 as analysts lift price targets on expectations for stronger semiconductor capital equipment demand, partially offset by a few valuation driven downgrades. Analyst Commentary Recent Street research on Teradyne has been active, with several firms adjusting views and price targets in both directions.
Q
US$116.79
Qnity Electronics
7D
4.3%
1Y
n/a
NVMI
US$455.02
Nova
7D
2.9%
1Y
81.7%

NVMI: Multi Year Metrology Demand And Execution Risks Will Shape Future Free Cash Flow

Analysts have raised their implied fair value estimate for Nova by about $108 to approximately $502 per share, citing updated expectations for revenue growth, profit margins, and a higher future P/E multiple that is supported by a wave of recent price target increases across the Street. Analyst Commentary Recent Street research has clustered around higher price targets for Nova, with several firms lifting their valuation ranges and reiterating generally neutral to positive stances on the stock.
KLIC
US$71.20
Kulicke and Soffa Industries
7D
-0.8%
1Y
79.0%

Kulicke and Soffa Industries: The Risk Of Pricing In A Lot That Has Yet To Happen

Feb 19
ENTG
US$136.27
Entegris
7D
5.2%
1Y
34.6%

ENTG: Higher Future P/E Assumptions Will Support Shares Toward Updated Fair Value

The analyst price target for Entegris has been adjusted from $150 to $156, with analysts citing updated assumptions around revenue growth, profit margins, discount rates and future P/E multiples as key drivers of the change. Analyst Commentary Recent Street research on Entegris reflects a mix of optimism and caution, with several bullish analysts lifting price targets while a few firms have shifted to more cautious or bearish stances.
CAMT
US$153.11
Camtek
7D
-5.5%
1Y
95.3%
PDFS
US$33.18
PDF Solutions
7D
-1.4%
1Y
51.0%

PDFS: Q4 Execution And Chip Expertise Will Support Measured Future Upside

Narrative Update on PDF Solutions The analyst price target for PDF Solutions has been raised from $34.75 to $36.00, as analysts point to Q4 revenue that met or exceeded their expectations and to the continued monetization of the company’s chip industry expertise and broader product portfolio. Analyst Commentary Bullish analysts are raising their targets on PDF Solutions after Q4 revenue aligned with or came in above their expectations and as the company continues to turn its chip industry know how and product portfolio into revenue.
LRCX
US$244.25
Lam Research
7D
3.7%
1Y
204.2%

LRCX: AI Memory And WFE Upcycle Is Expected To Drive Returns

Lam Research's fair value estimate has been raised from about $204 to roughly $274 as analysts update their price targets based on higher assumed revenue growth, stronger profit margins, and slightly adjusted discount and future P/E assumptions across recent research reports. Analyst Commentary Recent research on Lam Research has been active, with a long list of firms revisiting their models and lifting price targets.
VECO
US$29.36
Veeco Instruments
7D
-14.5%
1Y
25.6%

VECO: DRAM Opportunities And Merger Vote Will Shape Balanced Outlook

Analysts have adjusted their price target on Veeco Instruments to $36 from $38, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News Veeco Instruments has scheduled a special or extraordinary shareholders meeting for February 6, 2026, to vote on issuing shares of Axcelis common stock to certain Veeco equityholders under a merger agreement with Axcelis and Victory Merger Sub, Inc.