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U.S. Semiconductor Equipment Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies39
  • 7D-1.2%
  • 3M46.6%
  • 1Y139.0%
  • YTDn/a

Over the last 7 days, the Semiconductor Equipment industry has dropped 1.2%, driven by a pullback from Lam Research of 4.5%. This takes the industry's 12 month performance to a gain of 139%. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026US$987.0bUS$97.9bUS$20.8b45.4x47.5x10.1x
Wed, 28 Jan 2026US$904.0bUS$95.9bUS$19.0b50.8x47.5x9.4x
Fri, 26 Dec 2025US$733.3bUS$95.9bUS$19.0b38.8x38.5x7.6x
Sun, 23 Nov 2025US$616.2bUS$95.9bUS$19.0b33.7x32.4x6.4x
Tue, 21 Oct 2025US$620.4bUS$89.4bUS$16.3b33.9x38x6.9x
Thu, 18 Sep 2025US$513.7bUS$89.4bUS$16.3b29.5x31.4x5.7x
Sat, 16 Aug 2025US$496.6bUS$89.6bUS$16.3b26.1x30.5x5.5x
Mon, 14 Jul 2025US$494.9bUS$87.0bUS$15.5b31.5x32x5.7x
Wed, 11 Jun 2025US$433.7bUS$87.0bUS$15.5b26x28x5x
Fri, 09 May 2025US$383.5bUS$86.4bUS$15.1b25.2x25.4x4.4x
Sun, 06 Apr 2025US$317.7bUS$84.8bUS$14.2b22.6x22.4x3.7x
Tue, 04 Mar 2025US$408.5bUS$84.8bUS$14.2b31x28.8x4.8x
Thu, 30 Jan 2025US$424.9bUS$83.2bUS$14.6b34.9x29.1x5.1x
Sat, 28 Dec 2024US$416.8bUS$83.2bUS$14.6b27.6x28.6x5x
Mon, 25 Nov 2024US$417.8bUS$83.2bUS$14.6b28.3x28.6x5x
Wed, 23 Oct 2024US$440.4bUS$82.5bUS$15.6b26x28.3x5.3x
Fri, 20 Sep 2024US$457.3bUS$82.5bUS$15.6b25.4x29.3x5.5x
Sun, 18 Aug 2024US$511.8bUS$83.0bUS$15.8b26.2x32.4x6.2x
Tue, 16 Jul 2024US$592.5bUS$82.8bUS$13.8b34.8x43.1x7.2x
Thu, 13 Jun 2024US$556.1bUS$82.8bUS$13.8b27.5x40.4x6.7x
Sat, 11 May 2024US$503.6bUS$82.8bUS$13.6b32.2x37x6.1x
Mon, 08 Apr 2024US$507.0bUS$84.5bUS$14.2b34.5x35.7x6x
Wed, 06 Mar 2024US$517.6bUS$84.5bUS$14.2b35.3x36.5x6.1x
Fri, 02 Feb 2024US$438.3bUS$88.0bUS$14.9b24.9x29.3x5x
Sun, 31 Dec 2023US$434.6bUS$90.1bUS$15.9b25.8x27.3x4.8x
Tue, 28 Nov 2023US$396.7bUS$90.0bUS$15.9b24.5x24.9x4.4x
Thu, 26 Oct 2023US$338.1bUS$92.3bUS$16.4b22.4x20.6x3.7x
Sat, 23 Sep 2023US$361.5bUS$93.9bUS$17.0b24.8x21.3x3.8x
Mon, 21 Aug 2023US$381.3bUS$93.9bUS$17.0b25x22.5x4.1x
Wed, 19 Jul 2023US$410.1bUS$96.1bUS$20.1b21.6x20.4x4.3x
Fri, 16 Jun 2023US$398.6bUS$96.1bUS$20.1b18.8x19.8x4.1x
Sun, 14 May 2023US$335.3bUS$95.7bUS$20.1b15.2x16.7x3.5x
Tue, 11 Apr 2023US$338.1bUS$96.1bUS$21.2b16x16x3.5x
Thu, 09 Mar 2023US$347.3bUS$96.1bUS$21.2b16.8x16.4x3.6x
Price to Earnings Ratio

16.4x


Total Market Cap: US$347.3bTotal Earnings: US$21.2bTotal Revenue: US$96.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductor Equipment Industry Price to Earnings3Y Average 29.5x202420252026
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 47.5x which is higher than its 3-year average PE of 29.5x.
  • The 3-year average PS ratio of 5.4x is lower than the industry's current PS ratio of 10.1x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Semiconductor Equipment industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Comparison

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

US Market-0.57%
Tech-2.05%
Semiconductors-4.37%
Semiconductor Equipment-1.16%
Semiconductors-4.75%
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
KLAC KLAUS$1.52k2.5%
+US$4.8b		120.6%PE43.8x
Q Qnity ElectronicsUS$126.7613.6%
+US$3.2b		n/aPE38.4x
CAMT CamtekUS$167.399.3%
+US$654.4m		142.8%PE151.2x
AXTI AXTUS$37.9033.3%
+US$505.7m		2,345.2%PS22.9x
TER TeradyneUS$320.030.5%
+US$239.5m		202.5%PE90.4x

Latest News

ICHR
US$47.55
Ichor Holdings
7D
-6.9%
1Y
69.3%
ENTG
US$132.45
Entegris
7D
-1.5%
1Y
30.9%
Q
US$126.76
Qnity Electronics
7D
13.6%
1Y
n/a
AMAT
US$372.30
Applied Materials
7D
-0.3%
1Y
144.7%
LRCX
US$233.89
Lam Research
7D
-4.5%
1Y
204.8%
ACLS
US$82.61
Axcelis Technologies
7D
4.8%
1Y
50.6%
MKSI
US$244.46
MKS
7D
-3.6%
1Y
185.5%
CAMT
US$167.39
Camtek
7D
9.3%
1Y
142.8%

CAMT: AI Packaging Cycle And 2026 Double Digit Upside Look Underappreciated

Analysts have raised our Camtek fair value estimate from $126.75 to $173.83, citing higher Street price targets in the $145 to $190 range, improved revenue and EPS projections, and greater visibility into margins and growth beyond 2026. Analyst Commentary Street research on Camtek is skewed toward higher valuation targets, but not all commentators agree on the risk and reward tradeoff at current levels.
ACMR
US$55.68
ACM Research
7D
-14.5%
1Y
129.0%

ACMR: Execution Risks And Rich P/E Multiple Are Expected To Restrain Returns

Analysts have raised their price target on ACM Research by about $3 to roughly $52, citing updated assumptions around fair value, revenue growth, profit margins, and a slightly higher future P/E multiple. Analyst Commentary Recent Street research around ACM Research price targets shows a mix of optimism and caution, with changes clustered within a relatively tight band and grounded in revised assumptions on earnings power, growth trajectories, and perceived risk.
SEDG
US$35.40
SolarEdge Technologies
7D
-10.1%
1Y
150.5%

SEDG: Data Center Opportunity Will Struggle To Justify Margin Recovery Hopes

Analysts nudged their fair value estimate for SolarEdge Technologies higher to $33.80 from $33.13, reflecting a blend of mixed price target revisions across the Street, recent Q4 margin and free cash flow trends, and updated views on longer term earnings potential and valuation multiples. Analyst Commentary Street research on SolarEdge Technologies presents a mixed but detailed picture, with price targets clustered in the mid US$20s to low US$40s and ratings spread across Buy, Hold, Equal Weight, Sector Perform, Market Perform and Underperform.
KLAC
US$1,524.55
KLA
7D
2.5%
1Y
120.6%

KLA Corporation (KLAC) The Precision Arbitrator: Securing the AI Frontier

KLA Corporation (KLAC) stands as the indispensable gatekeeper of the semiconductor world, currently trading at $1,496.00 as of the market close on February 20, 2026. As chip architectures move toward 2nm and beyond, the "process control intensity"—the amount of inspection and measurement required per wafer—is skyrocketing.
AXTI
US$37.90
AXT
7D
33.3%
1Y
2,345.2%
ENPH
US$42.27
Enphase Energy
7D
-10.8%
1Y
-20.0%

ENPH: Recent Upgrades Signal Future Upside Despite Policy And Financing Risks

Analysts have lifted their blended price target for Enphase Energy from about $64 to roughly $71, citing refreshed models that incorporate higher projected revenue growth, a slightly lower discount rate, and updated assumptions for profit margins and future P/E multiples, following a wave of recent target hikes and upgrades across the Street. Analyst Commentary Recent research has been heavily skewed toward more constructive views on Enphase Energy, with several bullish analysts lifting price targets and shifting ratings to a more positive stance.
FORM
US$98.88
FormFactor
7D
2.9%
1Y
214.3%
TER
US$320.03
Teradyne
7D
0.5%
1Y
202.5%

TER: AI Test Demand And Wafer Fab Spending Upswing Will Drive Outlook

Our Teradyne fair value estimate edges up by about $1 to $397.65 as analysts lift price targets on expectations for stronger semiconductor capital equipment demand, partially offset by a few valuation driven downgrades. Analyst Commentary Recent Street research on Teradyne has been active, with several firms adjusting views and price targets in both directions.
ONTO
US$215.89
Onto Innovation
7D
1.2%
1Y
58.7%

ONTO: Higher Street Conviction Will Shape A Balanced Medium Term Outlook

The updated analyst price target for Onto Innovation moves from about $172 to roughly $238, as analysts generally point to higher Street targets in the $200 to $275 range, along with stronger confidence around the product roadmap, including progress on Dragonfly G5, while using a slightly lower discount rate and a higher assumed future P/E multiple. Analyst Commentary Recent Street research on Onto Innovation has centered on updated price targets in the roughly US$200 to US$275 range, shifts in ratings, and how the company is positioned around product execution, including Dragonfly G5, and broader semiconductor capital equipment trends.