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U.S. Semiconductors Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies128
  • 7D-1.9%
  • 3M0.2%
  • 1Y71.5%
  • YTD-2.0%

Over the last 7 days, the Semiconductors industry has dropped 1.9%, driven by NVIDIA declining 1.6%. On the other hand Marvell Technology is actually up 8.4%. Over the past 12 months, the industry was up 72%. 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, 02 Apr 2026US$8.7tUS$697.6bUS$215.5b39.1x40.2x12.4x
Sat, 28 Feb 2026US$9.2tUS$677.0bUS$201.1b43.8x45.8x13.6x
Mon, 26 Jan 2026US$9.2tUS$640.2bUS$175.9b40.8x52.2x14.4x
Wed, 24 Dec 2025US$8.9tUS$640.7bUS$176.4b36.6x50.5x13.9x
Fri, 21 Nov 2025US$8.6tUS$630.1bUS$165.7b32.8x52.2x13.7x
Sun, 19 Oct 2025US$8.6tUS$597.4bUS$137.3b35.9x62.6x14.4x
Tue, 16 Sep 2025US$8.1tUS$593.8bUS$134.6b32.3x60.5x13.7x
Thu, 14 Aug 2025US$8.0tUS$572.2bUS$118.2b30.5x67.4x13.9x
Sat, 12 Jul 2025US$7.3tUS$566.4bUS$118.3b31.9x61.7x12.9x
Mon, 09 Jun 2025US$6.4tUS$563.8bUS$116.8b26.2x54.8x11.3x
Wed, 07 May 2025US$5.3tUS$539.2bUS$108.6b22.5x48.7x9.8x
Fri, 04 Apr 2025US$4.9tUS$537.4bUS$108.9b22.4x44.9x9.1x
Sun, 02 Mar 2025US$5.7tUS$532.8bUS$103.5b31x55.4x10.8x
Tue, 28 Jan 2025US$5.9tUS$513.6bUS$96.5b31.2x61.2x11.5x
Thu, 26 Dec 2024US$6.4tUS$513.5bUS$96.7b30x66.3x12.5x
Sat, 23 Nov 2024US$6.2tUS$505.3bUS$93.4b29.7x66.5x12.3x
Mon, 21 Oct 2024US$6.2tUS$489.1bUS$101.7b29x61x12.7x
Wed, 18 Sep 2024US$5.5tUS$485.4bUS$99.5b26.5x55.8x11.4x
Fri, 16 Aug 2024US$5.6tUS$467.2bUS$94.7b29.5x58.6x11.9x
Sun, 14 Jul 2024US$6.3tUS$467.9bUS$96.6b29.8x65.4x13.5x
Tue, 11 Jun 2024US$5.9tUS$461.2bUS$95.7b29.3x61.3x12.7x
Thu, 09 May 2024US$4.8tUS$445.8bUS$83.5b28.6x58.1x10.9x
Sat, 06 Apr 2024US$4.8tUS$447.7bUS$81.6b29.8x59.1x10.8x
Mon, 04 Mar 2024US$4.8tUS$443.3bUS$81.1b29.9x59.4x10.9x
Wed, 31 Jan 2024US$4.0tUS$431.9bUS$71.4b29.4x56.3x9.3x
Fri, 29 Dec 2023US$3.6tUS$433.4bUS$69.5b27.8x52.4x8.4x
Sun, 26 Nov 2023US$3.2tUS$432.4bUS$70.6b25.2x46x7.5x
Tue, 24 Oct 2023US$2.9tUS$426.3bUS$65.3b22.9x43.9x6.7x
Thu, 21 Sep 2023US$2.9tUS$430.8bUS$68.7b24.8x42.3x6.8x
Sat, 19 Aug 2023US$2.9tUS$421.1bUS$62.9b25.1x46.1x6.9x
Mon, 17 Jul 2023US$3.1tUS$429.2bUS$67.3b23.5x46.2x7.2x
Wed, 14 Jun 2023US$3.0tUS$434.2bUS$71.9b24.3x41.5x6.9x
Fri, 12 May 2023US$2.3tUS$434.1bUS$70.5b19x33.1x5.4x
Sun, 09 Apr 2023US$2.4tUS$443.8bUS$85.6b17.7x27.6x5.3x
Price to Earnings Ratio

27.6x


Total Market Cap: US$2.4tTotal Earnings: US$85.6bTotal Revenue: US$443.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 53.8x202420252026
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 40.2x which is lower than its 3-year average PE of 53.8x.
  • The 3-year average PS ratio of 10.8x is lower than the industry's current PS ratio of 12.4x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 36% per year over the last three years.
  • Revenues for these companies have grown 16% 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-0.32%
Tech-1.22%
Semiconductors-1.93%
Semiconductors-1.68%
Semiconductor Equipment-4.02%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 30.3x.
    • Analysts are expecting annual earnings growth of 18.5%, 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 59.0x.
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 7.6% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 19% 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
MRVL Marvell TechnologyUS$106.718.4%
+US$7.2b		68.8%PE34.9x
INTC IntelUS$48.031.8%
+US$4.3b		118.5%PS4.6x
FSLR First SolarUS$199.423.1%
+US$634.2m		53.6%PE14x
SIMO Silicon Motion TechnologyUS$116.985.5%
+US$205.6m		126.7%PE32.4x
CRUS Cirrus LogicUS$147.132.7%
+US$194.8m		49.2%PE18.6x

Latest News

INTC
US$48.03
Intel
7D
1.8%
1Y
118.5%
LRCX
US$222.01
Lam Research
7D
-4.9%
1Y
200.9%

LRCX: Future DRAM Spending And WFE Cycle Will Support Multi Year Upswing

Analysts have lifted their price target on Lam Research by $5 to $255, citing a more supportive outlook for wafer fab equipment spending, stronger expectations for DRAM-driven demand, and Lam's inclusion in preferred idea lists as key reasons for the change. Analyst Commentary Recent research points to a broadly constructive stance on Lam Research, with a series of higher price targets and fresh buy calls highlighting confidence in the company’s positioning within wafer fab equipment and memory exposure.
AVGO
US$313.49
Broadcom
7D
-1.7%
1Y
82.2%

AVGO: AI Custom Silicon Demand Will Drive FY27 Earnings Power

Analysts have raised Broadcom’s fair value estimate from $535.00 to $587.95, citing stronger AI-driven revenue expectations, higher projected profit margins, reduced margin concerns, and continued constructive long-term commentary on FY27 AI potential, partly offset by lower assumed future P/E multiples. Analyst Commentary Bullish analysts are largely framing Broadcom as a key AI beneficiary, with valuation views that have adjusted more to sector multiple moves than to company specific concerns.
MRVL
US$106.71
Marvell Technology
7D
8.4%
1Y
68.8%
MU
US$367.85
Micron Technology
7D
-3.7%
1Y
315.2%
SIMO
US$116.98
Silicon Motion Technology
7D
5.5%
1Y
126.7%

SIMO: AI Storage Demand And New Controllers Will Support Next Cycle

Silicon Motion Technology's analyst fair value estimate has shifted from $150.18 to $157.20, reflecting analysts' updated price targets that incorporate recent sector research pointing to steady guidance and stronger demand for NAND, DRAM/HBM, and related storage components tied to rising AI investment. Analyst Commentary Recent research has leaned clearly positive, with multiple firms lifting their price targets for Silicon Motion Technology and one new initiation with a bullish view.
ALGM
US$33.30
Allegro MicroSystems
7D
2.1%
1Y
28.5%

ALGM: AI Data Center And Robotics Demand Will Drive Long Term Upside

Allegro MicroSystems' analyst price target has moved modestly higher to reflect a fair value estimate of $42.00. This is supported by analyst expectations for mid teens revenue growth, gross margins above 55%, expanding profit margins and new opportunities in areas such as AI data centers and robotics, even as the assumed future P/E multiple comes down.
KLAC
US$1,519.84
KLA
7D
-1.6%
1Y
121.5%

KLAC: Leading Edge Exposure And Investor Day Framework Will Drive Re Rating

The analyst price target for KLA has been raised from $1,800 to $1,950. Analysts attribute this change to more constructive revenue growth and profit margin assumptions following a stronger than expected Investor Day and broadly higher Street targets across the semicap group.
AMD
US$210.21
Advanced Micro Devices
7D
-4.6%
1Y
104.2%
AMAT
US$353.80
Applied Materials
7D
-4.2%
1Y
139.5%

AMAT: WFE Upswing And AI Memory Deals Will Support Future Upside

Applied Materials' analyst price target has been revised upward by a broad group of firms into a higher $300s to low $400s range, with analysts pointing to stronger multi year wafer fab equipment growth forecasts, increasing AI and DRAM related spending expectations, and a more constructive view on secular WFE demand as key supports for the shift. Analyst Commentary Recent Street research on Applied Materials shows a cluster of higher price targets and rating upgrades, with bullish analysts pointing to wafer fab equipment spending expectations, AI and memory related demand, and a more supportive multi year industry view as key drivers.
NVDA
US$175.75
NVIDIA
7D
-1.6%
1Y
59.2%
BZAI
US$1.89
Blaize Holdings
7D
52.4%
1Y
-14.1%
MCHP
US$65.38
Microchip Technology
7D
0.3%
1Y
33.6%

MCHP: Broadening Edge AI And Auto Demand Will Support Higher 2026 Margins

Analysts have nudged the Microchip Technology price target slightly higher, with modest adjustments to fair value inputs such as revenue growth, profit margin, discount rate and future P/E. These changes reflect a mixed set of recent target hikes and trims, alongside generally constructive views on booking trends and margin potential.
FSLR
US$199.42
First Solar
7D
3.1%
1Y
53.6%

FSLR: Section 232 Tariff Outcomes Will Support Future U.S. Pricing Power

Narrative Update on First Solar The analyst fair value estimate for First Solar has been adjusted from $347.10 to $335.32 as analysts recalibrated their models after Q4 results, weaker 2026 guidance, lower price targets across several firms, and updated views on demand, margins, tariffs, and policy outcomes. Analyst Commentary Recent Street research on First Solar has shifted toward more cautious stances, with several firms moving to Hold or Neutral ratings and trimming price targets after Q4 results and weaker 2026 guidance.
CRUS
US$147.13
Cirrus Logic
7D
2.7%
1Y
49.2%

CRUS: Handset Concentration And Rich Future P E Will Pressure Shares

Cirrus Logic's analyst price target has shifted from $110 to $120, reflecting updated assumptions on discount rate, revenue growth, profit margin, and future P/E as analysts reassess the handset related semiconductor outlook. Analyst Commentary Recent Street research on Cirrus Logic shows a mixed setup, with some firms lifting price targets after updating handset related assumptions while others turn more cautious on the shares.
QCOM
US$127.28
QUALCOMM
7D
-2.4%
1Y
-17.4%

QCOM: AI Inference And Diversification Will Offset Handset And Apple Headwinds

QUALCOMM's analyst fair value estimate has been reset from about $193 to about $157 as analysts factor in a slightly higher discount rate, more cautious profit margin expectations, and recent downgrades citing share loss in a shrinking handset market and the expected roll off of Apple business. Analyst Commentary Recent Street research around QUALCOMM is mixed, with a cluster of cautious calls focused on handset exposure and Apple concentration, and a smaller group of more optimistic views pointing to diversification and new revenue pools.