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U.S. Semiconductor Equipment Industry Analysis

UpdatedJun 03, 2026
DataAggregated Company Financials
Companies39
  • 7D3.4%
  • 3M41.2%
  • 1Y223.3%
  • YTDn/a

In the last week, the Semiconductor Equipment industry is up 3.4%, with Lam Research leading the way, up 7.8%. In the same time, Photronics was down 40%. In the last 12 months, the industry was up 223%. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026US$1.3tUS$101.7bUS$22.6b70.6x56.1x12.4x
Sat, 02 May 2026US$1.1tUS$100.3bUS$21.8b48.2x50.6x11x
Mon, 30 Mar 2026US$907.9bUS$97.8bUS$20.8b42x43.7x9.3x
Wed, 25 Feb 2026US$991.0bUS$97.7bUS$20.8b40.8x47.7x10.1x
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
Price to Earnings Ratio

19.2x


Total Market Cap: US$386.8bTotal 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 32.4x202420252026
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 56.1x which is higher than its 3-year average PE of 32.4x.
  • The 3-year average PS ratio of 6.0x is lower than the industry's current PS ratio of 12.4x.
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 Market1.22%
Tech6.93%
Semiconductors5.97%
Semiconductor Equipment3.45%
Semiconductors6.24%
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$500.7711.7%
+US$41.7b		209.3%PE46.7x
LRCX Lam ResearchUS$343.717.8%
+US$31.0b		305.5%PE64.1x
KLAC KLAUS$2.13k8.6%
+US$21.9b		171.7%PE59.4x
TER TeradyneUS$409.679.0%
+US$5.3b		399.2%PE75.1x
AMKR Amkor TechnologyUS$75.204.2%
+US$746.1m		294.3%PE42.7x

Latest News

AMKR
US$75.20
Amkor Technology
7D
4.2%
1Y
294.3%
Seeking Alpha • 9h

Amkor Technology: The Advanced Packaging Backbone Of The AI Era Is Still Underpriced

Summary Amkor Technology (AMKR) is positioned as a critical chokepoint in the AI supply chain, yet trades at only 2.35x forward revenue with 27.5% YoY growth. AMKR’s advanced packaging, especially High-Density Fan-Out, is driving margin expansion, with Q3 expected to be pivotal for financial performance. Management targets $9B in revenue and 17.5% gross margin by 2028, scaling to $11B and 22% by 2030, supporting a Buy rating despite the recent stock pullback. Balance sheet strength and CHIPS Act funding mitigate capex risk, while customer concentration and Arizona ramp remain key risks to monitor. Read the full article on Seeking Alpha
ENPH
US$69.02
Enphase Energy
7D
-1.8%
1Y
59.9%
DQ
US$16.06
Daqo New Energy
7D
-7.9%
1Y
17.7%
Seeking Alpha • Jun 02

Daqo New Energy: It's A Waiting Game, Patience Required (Downgrade)

Summary Daqo New Energy Corp. is downgraded to Hold due to prolonged industry overcapacity and delayed recovery in polysilicon pricing. DQ’s Q1 revenues fell 78.5% YoY, with a net loss of $88.4M, as the company halted sales to avoid selling below cost. The DQ balance sheet remains robust, with $1.87B in liquidity and no debt, supporting DQ’s long-term survival through the downturn. Industry shakeout is slow, with government reluctance to enforce consolidation; patience is required before adding at ~$15/share. Read the full article on Seeking Alpha
ATOM
US$9.10
Atomera
7D
-17.5%
1Y
48.2%
AMAT
US$500.77
Applied Materials
7D
11.7%
1Y
209.3%
CAMT
US$183.45
Camtek
7D
8.2%
1Y
152.3%
Narrative Update • Jun 02

CAMT: AI Packaging And HBM Contracts Will Support Multi Year Cash Flow Visibility

Analysts have raised the Camtek price target to $200, citing stronger Q1 results, higher 2026 and 2027 sales estimates, and improved visibility supported by record orders and high bandwidth memory contracts. Analyst Commentary Recent research points to a broadly constructive tone on Camtek following its Q1 report, with several bullish analysts lifting valuation frameworks and price targets while highlighting order strength and high bandwidth memory exposure.
KLAC
US$2,125.11
KLA
7D
8.6%
1Y
171.7%
Seeking Alpha • Jun 02

KLA Corporation: Another Victim Of Semiconductor Euphoria

Summary KLA Corp. benefits from secular semiconductor growth and boasts strong moats, but current valuation fully prices in optimistic scenarios. KLAC projects robust EPS and revenue growth through 2030, driven by industry tailwinds, service expansion, and operational efficiency. Despite a stellar track record (EPS CAGR 25.5% over 10 years), KLAC trades at premium multiples, leaving little margin of safety. I rate KLAC a sell, as normalized multiples or industry cooling could lead to significant downside; risk/reward is unfavorable at current levels. Read the full article on Seeking Alpha
LRCX
US$343.71
Lam Research
7D
7.8%
1Y
305.5%
AXTI
US$106.70
AXT
7D
-13.1%
1Y
6,139.8%
TER
US$409.67
Teradyne
7D
9.0%
1Y
399.2%
PLAB
US$32.11
Photronics
7D
-40.0%
1Y
78.2%
ICHR
US$72.45
Ichor Holdings
7D
-1.7%
1Y
310.7%
Q
US$155.00
Qnity Electronics
7D
-2.6%
1Y
n/a
ONTO
US$279.98
Onto Innovation
7D
4.9%
1Y
191.4%
NVMI
US$530.04
Nova
7D
3.5%
1Y
138.1%
FORM
US$126.02
FormFactor
7D
-5.3%
1Y
291.1%