What's Going On With ASML Stock Wednesday?

Netherlands-based critical chipmaking firm ASML Holding NV (NASDAQ: ASML) reported a fiscal first-quarter 2024 net sales of €5.29 billion, down 21.6% year-on-year. In USD, sales of $5.75 billion missed the consensus of $6.13 billion.

Net bookings for the first quarter were €3.61 billion, compared to €3.75 billion a year ago, down from fourth-quarter net bookings of €9.19 billion.

Of these quarterly net bookings, €656 million was EUV for the first quarter, versus fourth-quarter net bookings of €5.6 billion. The stock price declined after the results.

Also Read: ASML Faces Setback as Huawei Innovates Beyond EUV Restrictions with Breakthrough Patent

The gross margin remained flattish at 51%. GAAP EPS was €3.11 in the first quarter. In USD terms, EPS of $3.38 missed the street view of $3.43.

ASML held €5.41 billion in cash and equivalents as of the first quarter.

Dividends: ASML proposes declaring a total dividend of €6.10 per ordinary share for the year 2023, a 5.2% increase compared to 2022. Recognizing the three interim dividends of €1.45 per ordinary share paid in 2023 and 2024, this leads to a final dividend proposal to the annual meeting of €1.75 per ordinary share.

Outlook: ASML expects fiscal second quarter 2024 net sales of €5.7 billion-€6.2 billion versus consensus of $6.50 billion and a gross margin of 50%-51%.

ASML’s outlook for the full year 2024 is unchanged, with the second half expected to be stronger than the first half, in line with the industry’s continued recovery from the downturn.

The ASML stock gained over 52% in the last 12 months. Investors can gain exposure to the stock via Tidal ETF Trust II The Meet Kevin Pricing Power ETF PP and VanEck Robotics ETF IBOT.

Price Action: ASML shares traded lower by 3.42% at $943.50 premarket on the last check Wednesday.

Also Read: Chipmaking Giant ASML at the Heart of U.S.-China Tech Battle: Export Bans and Global Implications

Photo via ASML