Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Semiconductor Equipment Industry Analysis

UpdatedMay 04, 2026
DataAggregated Company Financials
Companies39
  • 7D-5.8%
  • 3M21.7%
  • 1Y182.0%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has dropped 5.8%, driven by KLA declining 11%. Meanwhile, AXT actually outperformed within the industry, gaining 26% in the last week. In the past year, the industry has gained 182%. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 04 May 2026US$1.1tUS$100.3bUS$21.8b48.1x50.3x10.9x
Wed, 01 Apr 2026US$880.5bUS$97.8bUS$20.8b42.6x42.4x9x
Fri, 27 Feb 2026US$1.0tUS$97.8bUS$20.6b45.9x50.3x10.6x
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
Price to Earnings Ratio

16.4x


Total Market Cap: US$331.9bTotal Earnings: US$20.3bTotal Revenue: US$95.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 31.4x202420252026
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 50.3x which is higher than its 3-year average PE of 31.4x.
  • The 3-year average PS ratio of 5.8x is lower than the industry's current PS ratio of 10.9x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have grown 2.4% 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 Market0.91%
Tech0.52%
Semiconductors-0.80%
Semiconductor Equipment-5.84%
Semiconductors-0.23%
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$96.0036.8%
+US$1.6b		7,172.7%PS69.2x
AEHR Aehr Test SystemsUS$93.075.2%
+US$144.4m		1,026.8%PS64.7x
ATOM AtomeraUS$11.0945.3%
+US$134.0m		134.0%PS6606.7x
PDFS PDF SolutionsUS$44.557.8%
+US$128.0m		134.1%PS8.1x
ALMU AelumaUS$25.5828.0%
+US$100.8m		130.9%PS88.1x

Latest News

AMAT
US$389.08
Applied Materials
7D
-3.9%
1Y
151.7%
AXTI
US$96.00
AXT
7D
36.8%
1Y
7,172.7%
FORM
US$137.37
FormFactor
7D
-4.6%
1Y
360.8%
VECO
US$50.25
Veeco Instruments
7D
1.0%
1Y
158.8%

VECO: Refreshed Earnings Model Will Likely Expose Downside Risk To Shares

Analysts lifted their price target on Veeco Instruments to $40 from $36, reflecting updated post earnings models that incorporate refreshed assumptions on growth, margins and valuation multiples. Analyst Commentary Street research around Veeco Instruments has leaned constructive, with fresh models following the latest earnings update feeding into higher valuation assumptions and a lifted price target to $40.
ENTG
US$142.29
Entegris
7D
-9.0%
1Y
69.6%

ENTG: Higher P E Assumptions And Guidance Will Shape Bullish Share Outlook

Analysts have raised the implied fair value estimate for Entegris from $155.00 to approximately $204.66, citing updated assumptions for revenue growth, profitability, and a higher future P/E multiple that are consistent with a recent series of price target increases across major firms. Analyst Commentary Recent Street research shows a cluster of higher price targets for Entegris across several major firms, with multiple reports on the same dates pointing to reassessments of the company’s earnings power, execution, and long term positioning in the semiconductor supply chain.
KLAC
US$1,726.26
KLA
7D
-9.1%
1Y
149.0%
NVMI
US$494.49
Nova
7D
-6.8%
1Y
152.2%
PDFS
US$44.55
PDF Solutions
7D
7.8%
1Y
134.1%

PDFS: Networking Standard Ambitions Will Test Execution And Pressure Current Enthusiasm

Analysts have raised their price targets on PDF Solutions by $3 to $10 in recent research, citing updated models that reflect the company's evolving business model, its deeper role in semiconductor analytics, and the ongoing monetization of its industry expertise. Analyst Commentary Recent research on PDF Solutions centers on how the company is updating its business model and deepening its role in semiconductor analytics, with several firms adjusting their models and price targets accordingly.
TER
US$345.42
Teradyne
7D
-14.1%
1Y
357.9%

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
LRCX
US$256.72
Lam Research
7D
-1.1%
1Y
247.3%

LRCX: AI Memory Spending And WFE Demand Will Drive Upside Potential

Analysts have lifted the Lam Research fair value estimate from $280.90 to $309.52, reflecting updated assumptions for revenue growth, margins and long term P/E multiples in the wake of a broad round of higher Street price targets across the wafer fab equipment group. Analyst Commentary Street research on Lam Research has been active, with a series of price target changes and one downgrade shaping how analysts frame the risk and reward trade off.
AMKR
US$71.09
Amkor Technology
7D
-6.0%
1Y
300.1%

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

Apr 30
ALMU
US$25.58
Aeluma
7D
28.0%
1Y
130.9%
MKSI
US$279.38
MKS
7D
0.4%
1Y
275.2%

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.
ACLS
US$139.99
Axcelis Technologies
7D
1.8%
1Y
168.7%
ATOM
US$11.09
Atomera
7D
45.3%
1Y
134.0%
AEHR
US$93.07
Aehr Test Systems
7D
5.2%
1Y
1,026.8%

AEHR Insiders Cashed Out $25.9M After Years of Shareholder Dilution

Heavy insider selling, repeated dilution, and weakening fundamentals raise serious questions about shareholder alignment Aehr Test Systems (NASDAQ: AEHR) has often been presented as a high-growth semiconductor equipment story tied to silicon carbide, EV power devices, and emerging AI infrastructure demand. But behind the narrative lies a more uncomfortable reality for shareholders: years of dilution followed by a major insider cash-out during a sharp stock rally.