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U.S. Semiconductors Industry Analysis

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies125
  • 7D-0.4%
  • 3M3.2%
  • 1Y44.1%
  • YTD41.2%

The Semiconductors industry has stayed flat over the last week. As for the the longer term, the industry is up 44% over the past 12 months. 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, 01 Jan 2026US$8.9tUS$640.8bUS$176.4b36.4x50.3x13.8x
Sat, 29 Nov 2025US$8.8tUS$631.0bUS$166.0b36.1x52.8x13.9x
Mon, 27 Oct 2025US$8.8tUS$599.6bUS$158.5b39.5x55.4x14.7x
Wed, 24 Sep 2025US$8.3tUS$593.8bUS$134.6b35.4x61.7x14x
Fri, 22 Aug 2025US$7.6tUS$573.3bUS$118.6b28.1x64.3x13.3x
Sun, 20 Jul 2025US$7.6tUS$566.4bUS$118.3b31.1x64x13.4x
Tue, 17 Jun 2025US$6.5tUS$563.9bUS$116.8b27.3x55.4x11.5x
Thu, 15 May 2025US$6.0tUS$541.5bUS$109.1b23.4x55.3x11.1x
Sat, 12 Apr 2025US$4.9tUS$537.4bUS$108.9b23x44.5x9x
Mon, 10 Mar 2025US$5.4tUS$536.3bUS$108.3b30.1x49.7x10x
Wed, 05 Feb 2025US$5.7tUS$512.5bUS$94.9b30.6x60.2x11.2x
Fri, 03 Jan 2025US$6.2tUS$513.5bUS$96.7b30.8x63.7x12x
Sun, 01 Dec 2024US$6.0tUS$505.1bUS$93.4b30.2x64.4x11.9x
Tue, 29 Oct 2024US$6.3tUS$488.9bUS$101.3b28x61.8x12.8x
Thu, 26 Sep 2024US$5.8tUS$485.6bUS$99.5b26.9x57.9x11.9x
Sat, 24 Aug 2024US$5.9tUS$466.0bUS$94.2b28.9x62.7x12.7x
Mon, 22 Jul 2024US$5.8tUS$467.9bUS$96.6b28x59.7x12.3x
Wed, 19 Jun 2024US$6.4tUS$464.9bUS$94.3b30.2x67.4x13.7x
Fri, 17 May 2024US$5.1tUS$444.9bUS$83.2b29.5x61.1x11.4x
Sun, 14 Apr 2024US$5.0tUS$447.5bUS$81.6b28.8x60.9x11.1x
Tue, 12 Mar 2024US$4.8tUS$446.3bUS$78.2b29.3x61.6x10.8x
Thu, 08 Feb 2024US$4.1tUS$429.8bUS$71.5b28.7x57.2x9.5x
Sat, 06 Jan 2024US$3.4tUS$433.3bUS$69.5b26.2x49.3x7.9x
Mon, 04 Dec 2023US$3.2tUS$432.3bUS$70.4b25.4x45.6x7.4x
Wed, 01 Nov 2023US$2.8tUS$424.2bUS$63.4b20.6x43.8x6.5x
Fri, 29 Sep 2023US$2.9tUS$428.2bUS$65.8b24.8x44.7x6.9x
Sun, 27 Aug 2023US$3.0tUS$427.7bUS$68.4b25.8x43.6x7x
Tue, 25 Jul 2023US$3.1tUS$429.2bUS$67.3b23.2x45.7x7.2x
Thu, 22 Jun 2023US$3.0tUS$434.1bUS$71.9b23.6x41.1x6.8x
Sat, 20 May 2023US$2.5tUS$434.7bUS$70.4b21.1x35.8x5.8x
Mon, 17 Apr 2023US$2.4tUS$443.8bUS$85.6b18.6x27.5x5.3x
Wed, 15 Mar 2023US$2.2tUS$447.4bUS$90.2b18.3x24.4x4.9x
Fri, 10 Feb 2023US$2.2tUS$442.7bUS$89.1b19.2x25.2x5.1x
Sun, 08 Jan 2023US$1.9tUS$447.5bUS$96.4b16.8x19.8x4.3x
Price to Earnings Ratio

19.8x


Total Market Cap: US$1.9tTotal Earnings: US$96.4bTotal Revenue: US$447.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 51.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Semiconductor industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 51.8x.
  • The 3-year average PS ratio of 10.0x is lower than the industry's current PS ratio of 13.8x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 13% 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-0.48%
Tech-0.61%
Semiconductors-0.42%
Semiconductors-0.33%
Semiconductor Equipment-1.38%
Industry PE
  • Investors are most optimistic about the Semiconductors industry, which is trading close to its 3-year average PE ratio of 57.1x.
    • Analysts are expecting annual earnings growth of 26.3%, which is higher than its past year's earnings growth of 8.7% per year.
  • Investors are most pessimistic about the Semiconductor Equipment industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 27.9x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 8.7% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 13% 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
INTC IntelUS$36.912.1%
+US$3.6b		84.1%PE889.3x
SIMO Silicon Motion TechnologyUS$92.704.1%
+US$123.0m		71.5%PE32.7x
AXTI AXTUS$16.358.9%
+US$60.0m		653.5%PS8.1x
ALMU AelumaUS$17.176.7%
+US$19.3m		124.4%PS55.1x
SKYT SkyWater TechnologyUS$18.161.6%
+US$13.6m		31.6%PE7x

Latest News

NVDA
US$186.50
NVIDIA
7D
-1.1%
1Y
38.9%
AVGO
US$346.10
Broadcom
7D
-1.2%
1Y
49.3%
AXTI
US$16.35
AXT
7D
8.9%
1Y
653.5%
ADI
US$271.20
Analog Devices
7D
-2.3%
1Y
27.6%

ADI: Autos And AI Upside Will Drive Multi Year Earnings Upswing

We are raising our Analog Devices fair value estimate from $310 to approximately $344 per share, as analysts lift price targets on the back of autos and AI driven upside, a stronger cyclical recovery into 2026, and improving confidence in the company’s long term growth and earnings power. Analyst Commentary Recent Street research skewed strongly positive, with bullish analysts lifting price targets across the board and reinforcing the view that Analog Devices is entering a multi year upcycle supported by both cyclical recovery and secular growth drivers.
QCOM
US$171.05
QUALCOMM
7D
-2.1%
1Y
11.3%

QCOM: Future AI And Android Momentum Will Balance Legal And Regulatory Risks

Analysts have raised their intrinsic value estimate for Qualcomm shares to approximately $159 from about $140, reflecting stronger expected top line growth, modestly higher margins, and increasing confidence that AI driven demand and premium Android share gains will support a richer earnings profile over time, despite a slightly higher perceived risk. Analyst Commentary Recent Street research on Qualcomm reflects a generally constructive view on the company, particularly around premium Android strength, AI exposure, and diversification beyond handsets.
SKYT
US$18.16
SkyWater Technology
7D
1.6%
1Y
31.6%

SKYT: Index Inclusion And Quantum Partnerships Will Shape A Balanced Outlook

Analysts have raised their price target on SkyWater Technology to approximately $17.00 per share from about $9.00, citing a higher expected fair value driven by improved profit margin assumptions, even as they modestly temper long term revenue growth expectations and apply a slightly higher discount rate and future earnings multiple. What's in the News SkyWater Technology was added to the S&P Semiconductors Select Industry Index, expanding its visibility with institutional investors (Index Constituent Adds).
INTC
US$36.91
Intel
7D
2.1%
1Y
84.1%

INTC: Foundry And AI Execution Will Drive Confidence In Turnaround Narrative

Analysts have lifted their Intel fair value estimate to about $52 from roughly $27, reflecting improving execution, early but encouraging foundry progress, and a clearer AI strategy, even as they continue to flag rich valuation and execution risk. Analyst Commentary Recent Street research reflects a more constructive, but still guarded, view on Intel as bullish analysts acknowledge improving execution and a clearer AI and foundry strategy.
SIMO
US$92.70
Silicon Motion Technology
7D
4.1%
1Y
71.5%

SIMO: Strengthening Memory Demand Will Drive Upcoming AI Storage Cycle Upside

Analysts have modestly lifted their price target on Silicon Motion Technology to $114.00 from $114, reflecting increased confidence in the company's positioning for strengthening memory demand and upcoming product cycles highlighted in recent research. Analyst Commentary Recent Street research reflects a constructive outlook on Silicon Motion Technology, with multiple firms lifting price targets into the $110 to $120 range as confidence grows in the company’s growth trajectory and execution on upcoming product cycles.
LRCX
US$171.18
Lam Research
7D
-3.5%
1Y
137.0%

LRCX: Recent AI And Memory Upcycle Euphoria Will Likely Fade

Analysts have raised their price target on Lam Research to approximately $110 from about $81, citing the company's stronger than expected earnings momentum, improving wafer fab equipment upcycle exposure, and durable AI driven demand for advanced memory and 3D stacking technologies. Analyst Commentary Recent Street research reflects a broadly constructive view on Lam Research, with multiple firms lifting price targets and highlighting the company’s leverage to an improving wafer fab equipment cycle, AI driven memory demand, and stronger than expected profitability.
KLAC
US$1,215.08
KLA
7D
-4.8%
1Y
92.8%
SYNA
US$74.02
Synaptics
7D
0.2%
1Y
-3.0%
AMAT
US$256.99
Applied Materials
7D
-1.5%
1Y
58.0%
TXN
US$173.49
Texas Instruments
7D
-2.1%
1Y
-7.5%

TXN: Inventory Discipline And Shifting Tariff Landscape Will Shape Cyclical Recovery Path

Analysts have trimmed their blended price target on Texas Instruments by less than $1 to approximately $189. This reflects slightly lower margin expectations and a slower than typical early-cycle recovery, even as revenue growth assumptions edge modestly higher.
ALMU
US$17.17
Aeluma
7D
6.7%
1Y
124.4%
SELX
US$0.78
Semilux International
7D
28.2%
1Y
-46.8%
GSIT
US$6.21
GSI Technology
7D
2.5%
1Y
105.0%