The parametric fault diagnosis of analog circuits is very crucial for condition-based maintenance (CBM) in prognosis and health management. In order to improve the diagnostic rate of parametric faults in engineering applications, a semi-supervised machine learning algorithm was used to classify the parametric fault. A lifting wavelet transform was used to extract fault features, a local preserving mapping algorithm was adopted to optimize the Fisher linear discriminant analysis, and a semi-supervised cooperative training algorithm was utilized for fault classification. In the proposed method, the fault values were randomly selected as training samples in a range of parametric fault intervals, for both optimizing the generalization of the model and improving the fault diagnosis rate. Furthermore, after semi-supervised dimensionality reduction and semi-supervised classification were applied, the diagnosis rate was slightly higher than the existing training model by fixing the value of the analyzed component.