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U.S. Semiconductor Equipment Industry Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies39
  • 7D5.4%
  • 3M54.6%
  • 1Y143.4%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has risen 5.4%, driven by gains from Applied Materials of 6.8%. In the last 12 months, the industry was up 143%. Looking forward, 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
Fri, 27 Feb 2026US$1.0tUS$97.7bUS$20.8b42.2x49.1x10.4x
Sun, 25 Jan 2026US$895.5bUS$95.9bUS$19.0b47x47x9.3x
Tue, 23 Dec 2025US$720.1bUS$95.9bUS$19.0b38.4x37.8x7.5x
Thu, 20 Nov 2025US$628.9bUS$95.8bUS$19.0b34.1x33.1x6.6x
Sat, 18 Oct 2025US$609.6bUS$89.4bUS$16.3b33.3x37.3x6.8x
Mon, 15 Sep 2025US$497.5bUS$89.4bUS$16.3b28.6x30.4x5.6x
Wed, 13 Aug 2025US$479.9bUS$89.1bUS$16.2b26.5x29.6x5.4x
Fri, 11 Jul 2025US$490.4bUS$87.0bUS$15.5b31.6x31.7x5.6x
Sun, 08 Jun 2025US$423.0bUS$87.0bUS$15.5b24.9x27.3x4.9x
Tue, 06 May 2025US$382.9bUS$86.4bUS$15.0b25.8x25.6x4.4x
Thu, 03 Apr 2025US$376.9bUS$84.8bUS$14.2b28.4x26.5x4.4x
Sat, 01 Mar 2025US$405.9bUS$84.8bUS$14.2b32.7x28.6x4.8x
Mon, 27 Jan 2025US$457.1bUS$83.2bUS$14.6b36.2x31.3x5.5x
Wed, 25 Dec 2024US$418.7bUS$83.2bUS$14.6b28.3x28.7x5x
Fri, 22 Nov 2024US$403.7bUS$83.2bUS$14.6b29.5x27.7x4.9x
Sun, 20 Oct 2024US$442.9bUS$82.5bUS$15.6b26.3x28.4x5.4x
Tue, 17 Sep 2024US$465.2bUS$82.5bUS$15.6b25.2x29.8x5.6x
Thu, 15 Aug 2024US$494.0bUS$82.6bUS$15.7b24.7x31.5x6x
Sat, 13 Jul 2024US$587.0bUS$82.8bUS$13.8b34.2x42.7x7.1x
Mon, 10 Jun 2024US$537.3bUS$82.8bUS$13.8b28.8x39.1x6.5x
Wed, 08 May 2024US$506.4bUS$83.3bUS$13.8b31.2x36.6x6.1x
Fri, 05 Apr 2024US$511.7bUS$84.5bUS$14.2b34.8x36.1x6.1x
Sun, 03 Mar 2024US$518.9bUS$84.5bUS$14.2b36x36.6x6.1x
Tue, 30 Jan 2024US$442.2bUS$88.0bUS$15.0b25.4x29.5x5x
Thu, 28 Dec 2023US$441.3bUS$90.1bUS$15.9b26.2x27.7x4.9x
Sat, 25 Nov 2023US$396.7bUS$90.0bUS$15.9b24.4x24.9x4.4x
Mon, 23 Oct 2023US$348.5bUS$92.3bUS$16.4b23x21.2x3.8x
Wed, 20 Sep 2023US$366.5bUS$93.9bUS$17.0b24.8x21.6x3.9x
Fri, 18 Aug 2023US$376.7bUS$94.0bUS$17.0b24.8x22.1x4x
Sun, 16 Jul 2023US$401.8bUS$96.1bUS$20.1b20.7x20x4.2x
Tue, 13 Jun 2023US$396.7bUS$96.1bUS$20.1b18.6x19.7x4.1x
Thu, 11 May 2023US$331.9bUS$95.4bUS$20.3b15.1x16.4x3.5x
Sat, 08 Apr 2023US$330.9bUS$96.1bUS$21.2b15.8x15.6x3.4x
Mon, 06 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 49.1x 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 10.4x.
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 Market0.90%
Tech2.11%
Semiconductors2.95%
Semiconductor Equipment5.43%
Semiconductors2.66%
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
KLAC KLAUS$1.52k3.7%
+US$7.1b		118.0%PE43.8x
AMAT Applied MaterialsUS$375.721.6%
+US$4.7b		139.9%PE38x
TER TeradyneUS$332.705.3%
+US$2.6b		205.8%PE94x
Q Qnity ElectronicsUS$124.7810.6%
+US$2.5b		n/aPE37.8x
LRCX Lam ResearchUS$239.070.7%
+US$2.1b		213.9%PE48x

Latest News

Q
US$124.78
Qnity Electronics
7D
10.6%
1Y
n/a
AMAT
US$375.72
Applied Materials
7D
1.6%
1Y
139.9%
DQ
US$23.95
Daqo New Energy
7D
-1.5%
1Y
11.4%
ATOM
US$5.21
Atomera
7D
-21.8%
1Y
0.2%
LRCX
US$239.07
Lam Research
7D
0.7%
1Y
213.9%
ICHR
US$46.90
Ichor Holdings
7D
-2.0%
1Y
59.3%
MKSI
US$244.68
MKS
7D
-1.8%
1Y
168.4%
CAMT
US$168.41
Camtek
7D
9.9%
1Y
125.1%

CAMT: AI Packaging Cycle And 2026 Double Digit Upside Look Underappreciated

Analysts have raised our Camtek fair value estimate from $126.75 to $173.83, citing higher Street price targets in the $145 to $190 range, improved revenue and EPS projections, and greater visibility into margins and growth beyond 2026. Analyst Commentary Street research on Camtek is skewed toward higher valuation targets, but not all commentators agree on the risk and reward tradeoff at current levels.
ACMR
US$57.04
ACM Research
7D
-12.7%
1Y
118.5%

ACMR: Execution Risks And Rich P/E Multiple Are Expected To Restrain Returns

Analysts have raised their price target on ACM Research by about $3 to roughly $52, citing updated assumptions around fair value, revenue growth, profit margins, and a slightly higher future P/E multiple. Analyst Commentary Recent Street research around ACM Research price targets shows a mix of optimism and caution, with changes clustered within a relatively tight band and grounded in revised assumptions on earnings power, growth trajectories, and perceived risk.
KLAC
US$1,524.31
KLA
7D
3.7%
1Y
118.0%

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.
AXTI
US$37.12
AXT
7D
55.9%
1Y
2,149.7%
FORM
US$97.75
FormFactor
7D
5.9%
1Y
196.6%
TER
US$332.70
Teradyne
7D
5.3%
1Y
205.8%

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.
ONTO
US$217.88
Onto Innovation
7D
-3.3%
1Y
49.7%

ONTO: Higher Street Conviction Will Shape A Balanced Medium Term Outlook

The updated analyst price target for Onto Innovation moves from about $172 to roughly $238, as analysts generally point to higher Street targets in the $200 to $275 range, along with stronger confidence around the product roadmap, including progress on Dragonfly G5, while using a slightly lower discount rate and a higher assumed future P/E multiple. Analyst Commentary Recent Street research on Onto Innovation has centered on updated price targets in the roughly US$200 to US$275 range, shifts in ratings, and how the company is positioned around product execution, including Dragonfly G5, and broader semiconductor capital equipment trends.
NVMI
US$441.77
Nova
7D
-0.2%
1Y
84.7%

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.
ENTG
US$132.20
Entegris
7D
-0.4%
1Y
35.6%

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.