SAN FRANCISCO -- Global semiconductor fabricator equipment bookings in the first quarter were up about 27% over last year and analyst models suggest an annual growth rate of 15 to 20% for the year, SEMI said this week.

"2014 is off to a positive start. The WSTS/SIA reports strong IC unit shipment growth through April; and both the silicon and leadframe unit data collected here through SEMI show solid year-over-year growth comparisons as well," wrote Dan Tracy in the trade group's mid-year forecast newsletter.

 "A number of leading packaging houses have boosted their 2014 capex plans during the first quarter for investment in wafer bumping, wafer-level packaging, and other advanced applications. [G]enerally improving economic conditions along with a strong appetite for electronics are spurring the current growth prospects for the semiconductor industry," he wrote.

SEMI used a graph that correlates first quarter year-over-year equipment order growth with the overall equipment spending growth for the current year to provide a forecast for annual equipment spending growth.

"Year-to-date equipment billings are on the right track for growth, with 2014 billings through April approaching 30% year-over-year growth,
 Tracy wrote. "In summary, following two years of declining equipment billings, 2014 looks to be a year for spending growth."