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U.S. Semiconductor Equipment Industry Analysis

UpdatedSep 13, 2025
DataAggregated Company Financials
Companies38
  • 7D6.7%
  • 3M13.9%
  • 1Y9.2%
  • YTDn/a

In the last week, the Semiconductor Equipment industry is up 6.7%, with Lam Research up 14%. During this same period, the Teradyne underperformed, falling 6.6%. In the last 12 months, the industry was up 9.2%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Mon, 30 Jan 2023US$339.2bUS$93.9bUS$21.2b17x16x3.6x
Wed, 28 Dec 2022US$306.6bUS$92.3bUS$20.7b14.5x14.8x3.3x
Fri, 25 Nov 2022US$341.7bUS$92.3bUS$20.7b15.5x16.5x3.7x
Sun, 23 Oct 2022US$270.9bUS$88.7bUS$21.1b12.3x12.8x3.1x
Tue, 20 Sep 2022US$310.0bUS$87.9bUS$20.9b15.4x14.8x3.5x
Price to Earnings Ratio

14.8x


Total Market Cap: US$310.0bTotal Earnings: US$20.9bTotal Revenue: US$87.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 25.8x202320242025
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 30.4x which is higher than its 3-year average PE of 25.8x.
  • The 3-year average PS ratio of 4.7x is lower than the industry's current PS ratio of 5.6x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have declined 7.9% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

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

US Market1.69%
Tech3.61%
Semiconductors6.13%
Semiconductor Equipment6.71%
Semiconductors6.10%
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
LRCX Lam ResearchUS$116.9613.6%
+US$17.7b		52.0%PE27.6x
KLAC KLAUS$964.026.5%
+US$7.8b		28.3%PE31.3x
AMAT Applied MaterialsUS$167.803.1%
+US$4.0b		-11.0%PE19.6x
NVMI NovaUS$293.1014.6%
+US$1.1b		41.8%PE36.7x
ENTG EntegrisUS$87.256.4%
+US$798.9m		-21.2%PE44.8x

Latest News

CAMT
US$87.02
Camtek
7D
10.5%
1Y
7.3%

What Does Camtek Ltd.'s (NASDAQ:CAMT) Share Price Indicate?

Sep 13
What Does Camtek Ltd.'s (NASDAQ:CAMT) Share Price Indicate?
SEDG
US$28.97
SolarEdge Technologies
7D
-15.8%
1Y
47.1%
AMAT
US$167.80
Applied Materials
7D
3.1%
1Y
-11.0%
DQ
US$25.81
Daqo New Energy
7D
-11.6%
1Y
59.4%

Chinese Intervention And Global Solar Demand Will Transform Polysilicon Markets

Analysts have raised Daqo New Energy's price target from $24.43 to $25.43, citing improved earnings prospects from higher polysilicon prices, stronger operating cash flow, and favorable regulatory changes expected to benefit the company’s competitive position in China. Analyst Commentary Bullish analysts increased profit estimates based on higher polysilicon prices and improved operating cash flow, alongside reduced capital spending.
LRCX
US$116.96
Lam Research
7D
13.6%
1Y
52.0%
ONTO
US$110.98
Onto Innovation
7D
6.6%
1Y
-43.9%
TER
US$112.24
Teradyne
7D
-6.6%
1Y
-14.5%
NVMI
US$293.10
Nova
7D
14.6%
1Y
41.8%
MKSI
US$115.10
MKS
7D
10.2%
1Y
2.9%

AI And Semiconductor Advancements Will Drive Market Evolution

Despite strong Q2 results, growing AI exposure, and anticipated outperformance in wafer fab equipment through 2025–2026, analysts have adopted a cautious near-term outlook, resulting in the consensus analyst price target for MKS remaining unchanged at $122.31. Analyst Commentary Bullish analysts point to strong Q2 results, with semiconductor revenues boosted by robust NAND upgrade activity and momentum in RF power solutions.
PDFS
US$19.38
PDF Solutions
7D
-2.9%
1Y
-34.0%

Enterprise Adoption And Semiconductor Trends Will Drive Industry Evolution

Analysts reduced their price target for PDF Solutions due to concerns over a weaker balance sheet and increased capital needs following the $130M secureWise acquisition and eProbe expansion, though the consensus target remains unchanged at $30.00. Analyst Commentary Weaker balance sheet following the $130M acquisition of secureWise.
PLAB
US$22.53
Photronics
7D
-0.5%
1Y
-4.7%
ENPH
US$37.63
Enphase Energy
7D
-5.1%
1Y
-65.8%

Global Electrification And Solar Trends Will Open New Markets

Analysts have maintained Enphase Energy’s price target at $42.79 as weaker U.S. residential solar demand, driven by policy uncertainty and expiring tax credits, is offset by potential opportunities in third-party ownership and modestly resilient margins. Analyst Commentary Bearish analysts cited new or accelerated policy changes—particularly expiration and restriction of federal investment tax credits (ITC/PTC/Section 25D) and lease eligibility under the “One Big Beautiful Bill”—as likely to weigh on U.S. residential solar demand and Enphase’s near- and medium-term outlook.
KLAC
US$964.02
KLA
7D
6.5%
1Y
28.3%
ALMU
US$15.44
Aeluma
7D
-11.5%
1Y
476.1%
ENTG
US$87.25
Entegris
7D
6.4%
1Y
-21.2%
TRT
US$5.25
Trio-Tech International
7D
-2.2%
1Y
-6.3%