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U.S. Semiconductor Equipment Industry Analysis

UpdatedFeb 02, 2026
DataAggregated Company Financials
Companies38
  • 7D1.2%
  • 3M32.2%
  • 1Y101.8%
  • YTDn/a

In the last week, the Semiconductor Equipment industry is up 1.2%, with Lam Research up 4.8%. During this same period, the KLA underperformed, falling 7.5%. In the last 12 months, the industry was up 102%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Feb 2026US$904.0bUS$97.0bUS$19.8b44x45.7x9.3x
Thu, 01 Jan 2026US$723.1bUS$95.9bUS$19.0b37.3x38x7.5x
Sat, 29 Nov 2025US$677.2bUS$95.9bUS$19.0b36.1x35.6x7.1x
Mon, 27 Oct 2025US$634.2bUS$90.6bUS$16.8b33x37.8x7x
Wed, 24 Sep 2025US$570.1bUS$89.4bUS$16.3b32.3x34.9x6.4x
Fri, 22 Aug 2025US$452.2bUS$89.6bUS$16.3b25.9x27.7x5x
Sun, 20 Jul 2025US$487.6bUS$87.0bUS$15.5b30.9x31.5x5.6x
Tue, 17 Jun 2025US$442.3bUS$87.0bUS$15.5b26.2x28.6x5.1x
Thu, 15 May 2025US$428.9bUS$86.6bUS$15.1b24.1x28.4x5x
Sat, 12 Apr 2025US$349.2bUS$84.9bUS$14.2b24.3x24.6x4.1x
Mon, 10 Mar 2025US$408.6bUS$84.8bUS$14.2b31.2x28.8x4.8x
Wed, 05 Feb 2025US$441.9bUS$84.5bUS$15.1b32.3x29.3x5.2x
Fri, 03 Jan 2025US$405.8bUS$83.2bUS$14.6b31.5x27.8x4.9x
Sun, 01 Dec 2024US$421.0bUS$83.2bUS$14.6b28.5x28.9x5.1x
Tue, 29 Oct 2024US$444.6bUS$83.1bUS$15.8b24.7x28.2x5.4x
Thu, 26 Sep 2024US$478.3bUS$82.5bUS$15.6b24.7x30.7x5.8x
Sat, 24 Aug 2024US$495.3bUS$83.0bUS$15.8b26x31.3x6x
Mon, 22 Jul 2024US$517.9bUS$82.8bUS$13.8b29.7x37.6x6.3x
Wed, 19 Jun 2024US$584.6bUS$82.8bUS$13.8b28.1x42.5x7.1x
Fri, 17 May 2024US$525.4bUS$82.8bUS$13.6b28x38.6x6.3x
Sun, 14 Apr 2024US$518.3bUS$84.5bUS$14.2b35.1x36.5x6.1x
Tue, 12 Mar 2024US$499.6bUS$84.5bUS$14.2b34.8x35.2x5.9x
Thu, 08 Feb 2024US$434.1bUS$85.9bUS$14.6b26.4x29.7x5.1x
Sat, 06 Jan 2024US$402.9bUS$90.1bUS$15.9b24.5x25.3x4.5x
Mon, 04 Dec 2023US$400.0bUS$90.0bUS$15.9b24.8x25.1x4.4x
Wed, 01 Nov 2023US$338.7bUS$90.6bUS$15.5b20.3x21.8x3.7x
Fri, 29 Sep 2023US$367.1bUS$93.9bUS$17.0b24.4x21.6x3.9x
Sun, 27 Aug 2023US$385.1bUS$93.9bUS$17.0b25.6x22.7x4.1x
Tue, 25 Jul 2023US$394.1bUS$96.1bUS$20.1b20.9x19.6x4.1x
Thu, 22 Jun 2023US$382.6bUS$96.1bUS$20.1b18.5x19x4x
Sat, 20 May 2023US$361.8bUS$96.1bUS$20.1b16.6x18x3.8x
Mon, 17 Apr 2023US$334.1bUS$96.1bUS$21.2b15.4x15.8x3.5x
Wed, 15 Mar 2023US$335.3bUS$96.1bUS$21.2b16.8x15.8x3.5x
Fri, 10 Feb 2023US$348.6bUS$93.9bUS$21.1b17.1x16.5x3.7x
Price to Earnings Ratio

16.5x


Total Market Cap: US$348.6bTotal Earnings: US$21.1bTotal Revenue: US$93.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 28.8x202420252026
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 45.7x which is higher than its 3-year average PE of 28.8x.
  • The 3-year average PS ratio of 5.2x is lower than the industry's current PS ratio of 9.3x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor Equipment industry have declined 2.3% 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 Market-0.23%
Tech-0.81%
Semiconductors1.42%
Semiconductor Equipment1.16%
Semiconductors1.45%
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$237.506.6%
+US$16.7b		196.2%PE47.7x
AMAT Applied MaterialsUS$328.402.8%
+US$7.3b		83.7%PE37.2x
TER TeradyneUS$249.537.7%
+US$2.8b		124.6%PE88.2x
MKSI MKSUS$233.576.8%
+US$998.8m		110.2%PE56.2x
Q Qnity ElectronicsUS$100.674.1%
+US$823.2m		n/aPE26.2x

Latest News

SEDG
US$30.64
SolarEdge Technologies
7D
-11.0%
1Y
129.3%
FORM
US$71.27
FormFactor
7D
-3.7%
1Y
80.1%
TER
US$249.53
Teradyne
7D
7.7%
1Y
124.6%
AMAT
US$328.40
Applied Materials
7D
2.8%
1Y
83.7%

AMAT: Future Multiple Compression Will Likely Follow Aggressive Wafer Equipment Spending Cycle

Our analyst fair value estimate for Applied Materials has moved up by $10 to $190 per share, reflecting updated assumptions on revenue growth, profitability, and long-term P/E, in line with the series of recent price target hikes and upgrades from Street analysts. Analyst Commentary Recent Street research on Applied Materials has been dominated by higher price targets, fresh initiations with constructive views, and several upgrades.
KLAC
US$1,410.45
KLA
7D
-8.6%
1Y
90.5%
AXTI
US$20.94
AXT
7D
17.6%
1Y
911.6%
LRCX
US$237.50
Lam Research
7D
6.6%
1Y
196.2%
ONTO
US$202.43
Onto Innovation
7D
-2.1%
1Y
1.6%
MKSI
US$233.57
MKS
7D
6.8%
1Y
110.2%
AMKR
US$48.20
Amkor Technology
7D
-4.3%
1Y
101.0%

AMKR: Arizona AI Packaging Buildout Will Drive Future Margin And Utilization Upside

Narrative Update on Amkor Technology Analysts have lifted their fair value estimate for Amkor Technology to US$62.00 from US$56.24, citing higher Street price targets, a richer assumed future P/E multiple, and updated views on growth, margins, and project spending. Analyst Commentary Recent Street research on Amkor Technology reflects a mix of optimism on long term growth drivers and caution around valuation and capital intensity.
ACMR
US$61.12
ACM Research
7D
19.5%
1Y
206.8%

ACMR: Margin Headwinds And Demand Ramp Are Expected To Shape Returns

Analysts have adjusted their view on ACM Research, with the price target moving from US$41.64 to US$48.67 as they factor in updated assumptions for fair value, discount rate, revenue growth, profit margins, and future P/E, following recent research that points to temporary margin headwinds alongside a continued demand ramp. Analyst Commentary Recent research on ACM Research points to a mixed but constructive view, with analysts updating their models around margins, demand trends, and the appropriate P/E to apply to the stock.
ENPH
US$36.47
Enphase Energy
7D
-7.5%
1Y
-42.9%

ENPH: Upgraded Views Signal Future Upside Despite Policy And Demand Headwinds

Our updated view trims Enphase Energy's fair value estimate from US$69.02 to US$64.20, reflecting analysts' mixed price target revisions and research that highlights both quality fundamentals and ongoing demand and policy headwinds. Analyst Commentary Recent research on Enphase Energy reflects a split tape, with some bullish analysts turning more constructive while others stay cautious on valuation and demand risk.
DQ
US$24.46
Daqo New Energy
7D
-10.1%
1Y
39.8%
NVMI
US$454.15
Nova
7D
-1.7%
1Y
87.5%

NVMI: Rising Multi Year Demand Expectations Will Likely Outrun Fundamentals

Narrative Update on Nova Analysts have raised their price target on Nova to $450 from $380, citing expectations of stronger multi-year demand, improving visibility, broader customer exposure and the potential for higher free cash flow in an upturn. Analyst Commentary Bullish analysts see the higher price target as a reflection of what they view as improving fundamentals around demand visibility, customer mix and potential cash generation, all of which they factor into their updated valuation work.
ENTG
US$119.48
Entegris
7D
3.3%
1Y
20.1%

ENTG: A.I. Hype Versus Cyclical Weakness Will Pressure Premium Expectations

Narrative Update on Entegris The updated analyst price target for Entegris has shifted from about $80.04 to $75.00, as analysts factor in modest tweaks to growth, margins and future P/E expectations. At the same time, they continue to point to recent target increases and upgrades that highlight ongoing interest in the stock.
Q
US$100.67
Qnity Electronics
7D
4.1%
1Y
n/a