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U.S. Semiconductors Industry Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies129
  • 7D-6.0%
  • 3M52.3%
  • 1Y82.0%
  • YTD42.2%

Over the last 7 days, the Semiconductors industry has dropped 6.0%, driven by a pullback from NVIDIA of 5.5%. On the other hand Astera Labs is actually up 6.7%. This takes the industry's 12 month performance to a gain of 82%. As for the next few years, earnings are expected to grow by 28% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026US$12.9tUS$755.4bUS$266.0b70.5x48.5x17.1x
Sun, 24 May 2026US$7.4tUS$747.2bUS$261.7b65x28.1x9.9x
Tue, 21 Apr 2026US$10.6tUS$697.4bUS$215.4b47.2x49.2x15.2x
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
Price to Earnings Ratio

44.7x


Total Market Cap: US$3.0tTotal Earnings: US$67.3bTotal Revenue: US$429.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 54.2x202420252026
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 48.5x which is lower than its 3-year average PE of 54.2x.
  • The 3-year average PS ratio of 11.3x is lower than the industry's current PS ratio of 17.1x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 58% per year over the last three years.
  • Revenues for these companies have grown 21% 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-2.47%
Tech-4.47%
Semiconductors-5.98%
Semiconductor Equipment-4.73%
Semiconductors-6.14%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 33.3x.
    • Analysts are expecting annual earnings growth of 21.3%, which is lower than the prior year's growth of 25.6% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 58.7x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 21% 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$1.21k7.0%
+US$89.7b		863.1%PE27.1x
AMAT Applied MaterialsUS$668.138.3%
+US$40.5b		264.1%PE62.3x
LRCX Lam ResearchUS$401.823.3%
+US$16.0b		314.9%PE74.9x
TER TeradyneUS$471.967.8%
+US$5.3b		418.4%PE86.5x
ONTO Onto InnovationUS$344.243.1%
+US$521.3m		243.4%PE160.9x

Latest News

MU
US$1,213.56
Micron Technology
7D
7.0%
1Y
863.1%
NVDA
US$195.74
NVIDIA
7D
-7.1%
1Y
26.3%
QCOM
US$204.74
QUALCOMM
7D
-9.5%
1Y
29.4%
AVGO
US$378.91
Broadcom
7D
-7.9%
1Y
40.2%
CBRS
US$168.52
Cerebras Systems
7D
-28.2%
1Y
n/a
ADI
US$417.93
Analog Devices
7D
-3.8%
1Y
76.1%
ARM
US$347.71
Arm Holdings
7D
-20.9%
1Y
119.9%
ONTO
US$344.24
Onto Innovation
7D
3.1%
1Y
243.4%
AMAT
US$668.13
Applied Materials
7D
8.3%
1Y
264.1%
MRVL
US$281.26
Marvell Technology
7D
-9.4%
1Y
251.7%
Seeking Alpha • Jun 22

Connectivity Is Marvell's Hidden Growth Engine Today

Summary Marvell is transitioning into an AI connectivity leader, driven by interconnect growth exceeding seventy percent in FY2027. FY2027 revenue is expected at $11.5B, accelerating toward $16.7B in FY2028 with strong multi-year demand visibility. Nvidia’s $2B strategic investment reinforces MRVL’s role as a critical bridge between compute and AI networking ecosystems. Emerging opportunities in photonics, scale-up optics, and switching remain underappreciated and largely excluded from current forecasts. Read the full article on Seeking Alpha
TER
US$471.96
Teradyne
7D
7.8%
1Y
418.4%
LRCX
US$401.82
Lam Research
7D
3.3%
1Y
314.9%
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
TXN
US$311.81
Texas Instruments
7D
-3.4%
1Y
51.1%
KLIC
US$131.49
Kulicke and Soffa Industries
7D
7.9%
1Y
271.7%
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...
SITM
US$692.47
SiTime
7D
2.3%
1Y
239.9%
Narrative Update • Jun 19

SITM: AI Timing Products And New Headquarters Will Shape Future Returns

The updated analyst price target for SiTime edges up by about $10 to $837.50, with analysts citing revised assumptions for revenue growth, profit margins, and future P/E as key drivers behind the change. Analyst Commentary Recent research on SiTime highlights a split picture, with some firms lifting price targets and others trimming them.
MXL
US$94.47
MaxLinear
7D
6.4%
1Y
559.7%
Seeking Alpha • Jun 18

MaxLinear: The Battle For The Socket

Summary MaxLinear has repositioned itself as a competitive player in data center optics, notably with its Keystone platform gaining traction at 800G among hyperscalers. Despite operational progress, MXL's $8B valuation implies high expectations, with a forward P/E near 67x and significant execution risk in the 1.6T DSP market. Rushmore's success at 1.6T hinges on Samsung's foundry performance and the company's ability to win sockets against entrenched competitors Marvell and Broadcom. I remain on the sidelines, awaiting evidence of 1.6T socket wins or a valuation reset below $37, as current pricing assumes near-perfect execution for several years. Read the full article on Seeking Alpha