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U.S. Semiconductor Equipment Industry Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies39
  • 7D-4.7%
  • 3M68.3%
  • 1Y222.8%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has risen 2.1%, driven by gains from Applied Materials of 3.1%. During this same period, the AXT underperformed, falling 16%. This means that the industry has gained 228% over the past year. Earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026US$1.5tUS$101.7bUS$22.6b78.3x67.9x15.1x
Sat, 23 May 2026US$1.2tUS$101.7bUS$22.5b65.7x53.5x11.9x
Mon, 20 Apr 2026US$1.1tUS$97.8bUS$20.8b52.6x54x11.5x
Wed, 18 Mar 2026US$922.6bUS$97.8bUS$20.8b44.1x44.4x9.4x
Fri, 13 Feb 2026US$950.8bUS$97.6bUS$19.8b41.7x48x9.7x
Sun, 11 Jan 2026US$852.9bUS$95.9bUS$19.0b44.1x44.8x8.9x
Tue, 09 Dec 2025US$715.6bUS$95.9bUS$19.0b38.6x37.6x7.5x
Thu, 06 Nov 2025US$664.6bUS$91.2bUS$17.0b35.2x39.2x7.3x
Sat, 04 Oct 2025US$619.1bUS$89.4bUS$16.3b34.7x37.9x6.9x
Mon, 01 Sep 2025US$456.2bUS$89.4bUS$16.3b27.1x27.9x5.1x
Wed, 30 Jul 2025US$484.7bUS$87.1bUS$15.3b26.2x31.7x5.6x
Fri, 27 Jun 2025US$465.7bUS$87.0bUS$15.5b28.1x30.1x5.4x
Sun, 25 May 2025US$397.3bUS$87.0bUS$15.5b22.7x25.6x4.6x
Tue, 22 Apr 2025US$341.9bUS$84.9bUS$14.2b23.8x24.1x4x
Thu, 20 Mar 2025US$399.8bUS$84.8bUS$14.2b30.4x28.2x4.7x
Sat, 15 Feb 2025US$453.8bUS$85.1bUS$14.5b35x31.2x5.3x
Mon, 13 Jan 2025US$426.9bUS$83.2bUS$14.6b33.9x29.3x5.1x
Wed, 11 Dec 2024US$428.4bUS$83.2bUS$14.6b27.8x29.3x5.1x
Fri, 08 Nov 2024US$440.2bUS$82.8bUS$14.8b27.2x29.7x5.3x
Sun, 06 Oct 2024US$487.7bUS$82.5bUS$15.6b26x31.3x5.9x
Tue, 03 Sep 2024US$496.0bUS$82.5bUS$15.6b26.8x31.8x6x
Thu, 01 Aug 2024US$523.4bUS$82.6bUS$13.7b28.8x38.1x6.3x
Sat, 29 Jun 2024US$566.5bUS$82.8bUS$13.8b26.9x41.2x6.8x
Mon, 27 May 2024US$541.0bUS$82.8bUS$13.8b28.8x39.3x6.5x
Wed, 24 Apr 2024US$471.7bUS$84.5bUS$14.2b33x33.3x5.6x
Fri, 22 Mar 2024US$503.1bUS$84.5bUS$14.2b35.7x35.4x6x
Sun, 18 Feb 2024US$493.1bUS$85.5bUS$14.7b33x33.6x5.8x
Tue, 16 Jan 2024US$410.1bUS$90.1bUS$15.9b24.7x25.8x4.6x
Thu, 14 Dec 2023US$408.4bUS$90.0bUS$15.9b24.8x25.7x4.5x
Sat, 11 Nov 2023US$363.2bUS$90.2bUS$15.5b23.7x23.4x4x
Mon, 09 Oct 2023US$369.9bUS$93.9bUS$17.0b24.8x21.8x3.9x
Wed, 06 Sep 2023US$408.2bUS$93.9bUS$17.0b26.9x24.1x4.3x
Fri, 04 Aug 2023US$404.8bUS$94.1bUS$17.2b20.5x23.5x4.3x
Sun, 02 Jul 2023US$404.2bUS$96.1bUS$20.1b20.1x20.1x4.2x
Price to Earnings Ratio

20.1x


Total Market Cap: US$404.2bTotal 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 33.3x202420252026
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 74.4x which is higher than its 3-year average PE of 33.2x.
  • The 3-year average PS ratio of 6.2x is lower than the industry's current PS ratio of 16.5x.
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 Market-2.47%
Tech-4.47%
Semiconductors-5.98%
Semiconductor Equipment-4.73%
Semiconductors-6.14%
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
TER TeradyneUS$427.214.6%
+US$2.9b		373.6%PE78.3x
KLAC KLAUS$240.480.7%
+US$2.3b		169.2%PE67.3x
ENTG EntegrisUS$171.449.0%
+US$2.1b		108.7%PE98.8x
ACMR ACM ResearchUS$109.8715.4%
+US$1.0b		345.2%PE83.4x
LRCX Lam ResearchUS$374.820.2%
+US$800.4m		290.4%PE69.9x

Latest News

ONTO
US$322.24
Onto Innovation
7D
1.0%
1Y
232.1%
AMKR
US$82.76
Amkor Technology
7D
-8.5%
1Y
290.7%
MKSI
US$381.62
MKS
7D
-6.1%
1Y
280.6%
AMAT
US$588.97
Applied Materials
7D
-4.6%
1Y
220.9%
Q
US$158.73
Qnity Electronics
7D
1.3%
1Y
n/a
KLAC
US$240.48
KLA
7D
-7.4%
1Y
166.3%
TER
US$427.20
Teradyne
7D
-2.4%
1Y
369.2%
LRCX
US$374.80
Lam Research
7D
-3.7%
1Y
287.0%
Seeking Alpha • Jun 22

Lam Research: A Strong Buy Built On Memory, Packaging And AI Complexity

Summary I'm rating Lam Research a Strong Buy with a $497 price target, implying 28% upside from $389. My growth drivers are AI-driven WFE and SAM expansion, NAND conversion spending, DRAM and HBM-related deposition intensity, advanced packaging growth, and CSBG services. Together, I estimate these growth drivers can add about $1.11 of incremental EPS and drive the forward non-GAAP EPS to $7.26. I arrive at my price target by applying a FWD non-GAAP P/E multiple of 68.49x to my FWD non-GAAP EPS of $7.26. The main risks are WFE cyclicality, memory spending delays, China/export control exposure, and valuation compression. Even with the risks, I believe LRCX has enough growth engines to keep earnings moving higher, and that is why I believe the premium valuation is justified. Read the full article on Seeking Alpha
ACMR
US$109.87
ACM Research
7D
15.4%
1Y
345.2%
Narrative Update • Jun 22

ACMR: Reliance On China Tool Demand Will Restrain 2026 Upside Potential

ACM Research's analyst fair value estimate has been nudged higher to $88.63 from $85.06, following recent price target increases that reference continued China tool demand, expectations for broader customer diversification, and potential contribution from emerging front end and back end products. Analyst Commentary Recent research on ACM Research points to a generally constructive stance from bullish analysts, with higher price targets linked to expectations around tool demand, product breadth, and customer mix.
KLIC
US$123.28
Kulicke and Soffa Industries
7D
1.2%
1Y
248.4%
Analysis Article • Jun 19

Kulicke And Soffa Industries (KLIC) Stock Could Be 161.1% Overvalued After AI Driven Earnings Surge

Kulicke and Soffa Industries (KLIC) drew fresh attention after reporting earnings per share that nearly tripled, coinciding with a 52-week high for the stock and growing interest in its AI-focused chip assembly equipment. See our latest analysis for Kulicke and Soffa Industries. Beyond the latest earnings surprise, Kulicke and Soffa Industries has seen strong momentum, with a 30-day share price return of 24.84% and a 1-year total shareholder return of 263.19%, indicating that recent...
PDFS
US$63.56
PDF Solutions
7D
4.1%
1Y
203.7%
Narrative Update • Jun 19

PDFS: Street Repricing Will Highlight Higher Margin Power Ahead

The analyst fair value estimate for PDF Solutions has been revised from $36.00 to $74.00. Analysts attribute the change to updated assumptions for the discount rate, revenue growth, profit margin, and future P/E, supported by several recent upward price target moves from the Street.
FORM
US$141.42
FormFactor
7D
1.1%
1Y
310.5%
Narrative Update • Jun 18

FORM: AI Compute Intensity Tailwinds Will Support Margins And Earnings Multiple

Analysts keep the FormFactor price target steady at $175 while adjusting model inputs, such as a slightly higher discount rate and revised growth and profitability assumptions, supported by recent upgrades that cite AI related demand and stronger execution as key drivers for a higher earnings multiple. Analyst Commentary Recent research on FormFactor highlights a mix of views, but several bullish analysts are emphasizing supportive factors that feed into valuation, execution and long term growth expectations, particularly around AI related opportunities.
NVMI
US$521.93
Nova
7D
-5.9%
1Y
104.4%
ENTG
US$171.46
Entegris
7D
-4.1%
1Y
105.0%
Narrative Update • Jun 17

ENTG: AI Materials Will Balance WFE Upcycle Promise With Cycle Sensitivity Risks

Analysts have lifted their Entegris price targets by up to $20, with recent updates pointing to higher wafer fab equipment expectations and viewing the company as well positioned for a longer WFE upcycle. Analyst Commentary Recent Street research on Entegris centers on higher price targets tied to wafer fab equipment expectations and how the company might perform if the WFE cycle extends.
PLAB
US$31.65
Photronics
7D
2.1%
1Y
66.8%
Analysis Article • Jun 16

Photronics (PLAB) Stock Could Be 24% Undervalued After Earnings Miss And Legal Scrutiny

Photronics (PLAB) has drawn fresh attention after reporting a year over year revenue decline and reduced operating margins, prompting multiple law firms to review its disclosures and raising questions about how recent challenges might affect the stock. See our latest analysis for Photronics. Despite the earnings setback and legal scrutiny, Photronics' recent share price return has been mixed, with a 1 day gain of 3.02% and a 7 day rise of 9.28%, following a 30 day decline of 34.55%. Its 1...