Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Semiconductors Industry Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies130
  • 7D-2.6%
  • 3M7.2%
  • 1Y62.3%
  • YTD-0.4%

Over the last 7 days, the Semiconductors industry has dropped 2.6%, driven by declines in NVIDIA and Broadcom of 3.0% and 7.5%, respectively. In contrast, Micron Technology has gained 10%. This takes the industry's 12 month performance to a gain of 62%. As for the next few years, earnings are expected to grow by 25% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Mar 2026US$9.0tUS$682.0bUS$203.4b43.6x44.4x13.2x
Sat, 14 Feb 2026US$9.1tUS$646.8bUS$179.6b43.4x50.9x14.1x
Mon, 12 Jan 2026US$9.1tUS$640.8bUS$176.4b42x51.3x14.1x
Wed, 10 Dec 2025US$9.1tUS$631.8bUS$168.7b37.9x54x14.4x
Fri, 07 Nov 2025US$9.1tUS$610.4bUS$153.6b35.6x59.4x14.9x
Sun, 05 Oct 2025US$8.5tUS$597.4bUS$137.3b37x62.1x14.3x
Tue, 02 Sep 2025US$7.6tUS$590.8bUS$129.0b33x59.3x12.9x
Thu, 31 Jul 2025US$7.7tUS$566.9bUS$116.7b29.7x66.4x13.7x
Sat, 28 Jun 2025US$7.0tUS$566.4bUS$118.3b28.5x59.5x12.4x
Mon, 26 May 2025US$5.9tUS$542.4bUS$109.5b25x54.3x11x
Wed, 23 Apr 2025US$4.5tUS$537.3bUS$108.9b22.3x41.5x8.4x
Fri, 21 Mar 2025US$5.5tUS$537.2bUS$108.1b29.7x50.9x10.2x
Sun, 16 Feb 2025US$6.4tUS$515.6bUS$94.1b32.2x67.7x12.3x
Tue, 14 Jan 2025US$6.2tUS$513.5bUS$96.7b30.8x64.2x12.1x
Thu, 12 Dec 2024US$6.0tUS$504.8bUS$92.9b32.1x64.1x11.8x
Sat, 09 Nov 2024US$6.5tUS$488.3bUS$84.1b32.8x77.7x13.4x
Mon, 07 Oct 2024US$5.9tUS$489.2bUS$101.8b28.6x58.1x12.1x
Wed, 04 Sep 2024US$5.7tUS$481.1bUS$104.2b27.2x54.7x11.8x
Fri, 02 Aug 2024US$5.7tUS$469.0bUS$96.5b26.8x59.2x12.2x
Sun, 30 Jun 2024US$6.0tUS$467.9bUS$96.6b29.5x62.2x12.8x
Tue, 28 May 2024US$5.5tUS$462.6bUS$95.6b29.9x57.1x11.8x
Thu, 25 Apr 2024US$4.5tUS$446.2bUS$80.8b27.9x55.7x10.1x
Sat, 23 Mar 2024US$5.0tUS$448.2bUS$81.2b28.8x62.1x11.3x
Mon, 19 Feb 2024US$4.4tUS$428.8bUS$71.0b29x61.5x10.2x
Wed, 17 Jan 2024US$3.7tUS$433.1bUS$69.5b25.3x52.7x8.5x
Fri, 15 Dec 2023US$3.4tUS$432.7bUS$70.6b25.6x48.2x7.9x
Sun, 12 Nov 2023US$3.1tUS$420.7bUS$61.9b23.9x50.7x7.5x
Tue, 10 Oct 2023US$3.0tUS$428.2bUS$65.8b24.8x45.8x7x
Thu, 07 Sep 2023US$3.1tUS$428.1bUS$68.7b26.4x45.1x7.2x
Sat, 05 Aug 2023US$3.1tUS$420.5bUS$63.6b23.9x48.4x7.3x
Mon, 03 Jul 2023US$3.0tUS$429.0bUS$67.3b23.9x44.7x7x
Wed, 31 May 2023US$2.9tUS$433.7bUS$71.0b22.7x40.6x6.7x
Fri, 28 Apr 2023US$2.3tUS$443.1bUS$84.8b18.3x27x5.2x
Sun, 26 Mar 2023US$2.4tUS$447.9bUS$90.3b17.8x26.4x5.3x
Price to Earnings Ratio

26.4x


Total Market Cap: US$2.4tTotal Earnings: US$90.3bTotal Revenue: US$447.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 53.7x202420252026
Current Industry PE
  • Investors are pessimistic on the American Semiconductor industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 44.4x which is lower than its 3-year average PE of 53.7x.
  • The 3-year average PS ratio of 10.7x is lower than the industry's current PS ratio of 13.2x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 31% per year over the last three years.
  • Revenues for these companies have grown 15% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market-2.19%
Tech-2.52%
Semiconductors-2.61%
Semiconductor Equipment1.16%
Semiconductors-3.03%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 30.0x.
    • Analysts are expecting annual earnings growth of 18.3%, which is higher than its past year's earnings decline of 3.2% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 58.9x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings growth rate of 9.2% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 18% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MU Micron TechnologyUS$461.7310.3%
+US$48.4b		352.4%PE43.6x
ARM Arm HoldingsUS$128.366.9%
+US$8.8b		8.9%PE170.2x
LRCX Lam ResearchUS$224.712.7%
+US$7.3b		188.3%PE45.2x
TSEM Tower SemiconductorUS$141.9618.9%
+US$2.5b		265.6%PE72.5x
KLAC KLAUS$1.48k1.2%
+US$2.3b		106.0%PE42.6x

Latest News

NVDA
US$180.40
NVIDIA
7D
-3.0%
1Y
53.5%
MU
US$461.73
Micron Technology
7D
10.3%
1Y
352.4%

Micron Technology will experience a robust 16.5% revenue growth

I am not in the field, just a random office worker. Earnings will beat tomorrow.
AVGO
US$315.93
Broadcom
7D
-7.5%
1Y
61.5%
CRDO
US$101.72
Credo Technology Group Holding
7D
-12.2%
1Y
117.5%
QCOM
US$130.47
QUALCOMM
7D
-2.7%
1Y
-17.6%
TSEM
US$141.96
Tower Semiconductor
7D
18.9%
1Y
265.6%
INTC
US$45.03
Intel
7D
-6.1%
1Y
86.7%

Intel Corp (INTC): The 18A Node Pivot and the "Foundry First" Transformation

Intel (INTC) concluded the March 16, 2026, trading session at $45.74 USD on the NASDAQ, ending the day with a 0.30% gain amid a volatile session that saw an intraday high of $49.17. Since your last update on March 1st, the stock has experienced significant "choppiness" as investors digest the launch of the Core Ultra 200S Plus series and wait for supply constraints to ease.
TXN
US$190.78
Texas Instruments
7D
-4.0%
1Y
5.0%

TXN: Evolving Capex And Inventory Framework Will Support Stronger Future Cash Generation

Texas Instruments' analyst price targets have broadly moved higher, with several firms lifting their views by $5 to $45 as analysts factor in updated capex plans, inventory intentions, and expectations for the company's revenue and free cash flow scenarios. Analyst Commentary Bullish analysts are largely focused on Texas Instruments' updated capital plans, inventory framework, and potential for free cash flow, using these inputs to refresh their valuation work and lift price targets across the board.
KLAC
US$1,482.36
KLA
7D
1.2%
1Y
106.0%

KLAC: AI And DRAM Spending Cycles Will Support Stronger Long Term Outlook

The analyst price target for KLA has been revised higher, with the updated fair value estimate moving from about $1,297 to roughly $1,676 as analysts factor in stronger long term revenue growth, higher profit margin assumptions and KLA's more constructive Investor Day outlook, while views on the appropriate discount rate and future P/E multiple remain fairly similar. Analyst Commentary Recent research has centered on KLA's updated long term framework, higher 2030 financial targets and a reassessment of wafer fab equipment spending, with most firms adjusting price targets and rating views around those themes.
MKSI
US$233.39
MKS
7D
4.1%
1Y
155.0%

MKSI: Wafer Fab Upswing And Lower Interest Expense Will Support 2025 To 2027 Cycle

Analysts have raised their average price target for MKS to $320, up from prior levels around $260, citing stronger than expected Q4 results, healthier margins, improving semiconductor-related demand and lower interest expense following recent debt refinancing. Analyst Commentary Bullish analysts have been raising their price targets on MKS in response to the recent Q4 beat, stronger guidance and margin profile, and the effects of debt refinancing on interest expense.
AMD
US$199.46
Advanced Micro Devices
7D
-2.6%
1Y
87.8%

Open Source Online Order Systems: A Complete Guide

Running a food or beverage delivery business comes with no shortage of decisions. One of the most consequential?
AMKR
US$46.87
Amkor Technology
7D
6.7%
1Y
139.5%

AMKR: Arizona Build And Advanced Packaging Will Shape Longer Term Upside

Amkor Technology's analyst price target has moved higher, with several firms raising their targets by amounts ranging from $5 to $19. Analysts pointed to improving utilization, margin benefits from cost actions, growing 2.5D and Chip-on-Wafer-on-Substrate exposure, and longer term Arizona investment plans.
ADI
US$308.59
Analog Devices
7D
-3.3%
1Y
47.0%

ADI: Cyclical Recovery And AI Data Center Demand Will Drive Mixed Outcomes

Our updated price target for Analog Devices rises from $204.70 to $314.76, reflecting analysts' higher modeled revenue growth, a richer assumed future P/E multiple, and commentary pointing to upside from data center, AI, industrial exposure, and pricing power, alongside an ongoing cyclical recovery. Analyst Commentary Recent Street research on Analog Devices is broadly constructive, with many firms lifting their price targets after the latest quarterly results and guidance updates.
NVMI
US$457.80
Nova
7D
5.1%
1Y
134.2%

NVMI: Multi Year Metrology Demand Visibility Will Shape Future Free Cash Flow

NOVA’s analyst price target has moved higher into the low $450s, with firms citing in-line earnings, steady wafer fab equipment guidance and improving multi-year demand visibility as key reasons for the reset. Analyst Commentary Recent research reflects a cluster of higher price targets for Nova into the low US$450 range, with analysts largely focused on execution against wafer fab equipment trends and the durability of multi-year demand.
ARM
US$128.36
Arm Holdings
7D
6.9%
1Y
8.9%

ARM: Physical AI And Data Center CPUs Will Drive Future Upside

Analysts have nudged their average price target for Arm higher to $148.09 from $147.83, reflecting slightly faster assumed revenue growth and AI driven CPU demand in data centers, partially tempered by more conservative profit margin and P/E assumptions. Analyst Commentary Recent Street research on Arm shows a split between analysts who see more upside tied to AI CPU demand and those who are tightening assumptions around growth, margins and valuation multiples.
LRCX
US$224.71
Lam Research
7D
2.7%
1Y
188.3%

LRCX: Future DRAM WFE Cycle May Drive Multi Year Upswing

The analyst price target for Lam Research has been raised by $10 to $254, as analysts point to higher wafer fab equipment growth forecasts, strong demand for DRAM memory spending, and broad Street support including Lam's addition to BofA's "US 1 List". Analyst Commentary Recent research is broadly constructive on Lam Research, with a series of higher price targets and fresh initiations pointing to confidence in the company’s position in wafer fab equipment and memory exposure.