ASML

ASML’s strong fourth-quarter performance is seen as a clear sign of customers planning for growth, Citi analysts write in a research note. This should give the market confidence in expecting strong growth in 2025 for the Dutch manufacturer of lithography systems for the semiconductor industry, and support its 2025 revenue to come in at the top half of its EUR30 billion-EUR40 billion range, ahead of consensus, the analysts add. ASML’s recovery shows customers’ confidence in the medium-to-long term outlook and should be reflected in the shares, the U.S. bank said. Shares are up 0.63% at 2888.0 pence.

ASML Holding (NASDAQ: ASML) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 13.7% Raymond James $725 → $850 Maintains Strong Buy 11/30/2023 17.44% JP Morgan $726 → $878 Maintains Overweight 10/19/2023 -2.89% JP Morgan $732 → $726 Maintains Overweight 10/12/2023 8.35% Susquehanna $850 → $810 Maintains Positive 10/11/2023 -2.09% JP Morgan $772 → $732 Maintains Overweight 07/28/2023 — Bernstein Downgrades Outperform → Market Perform 07/20/2023 7.01% Wells Fargo $775 → $800 Maintains Overweight 06/16/2023 — New Street Research Downgrades Buy → Neutral 01/26/2023 3.67% Argus Research $590 → $775 Maintains Buy 01/26/2023 0.59% JP Morgan $710 → $752 Maintains Overweight 11/14/2022 — Susquehanna Upgrades Neutral → Positive 11/14/2022 -11.05% Wells Fargo $510 → $665 Maintains Overweight 11/08/2022 — Morgan Stanley Initiates Coverage On → Overweight 10/21/2022 — New Street Research Upgrades Neutral → Buy 10/20/2022 — Deutsche Bank Upgrades Hold →

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target by $118 to $849, 29.5x our ’25 EPS view, near ASML’s three-year average two-year forward multiple (~29.4x), as we shift our focus from ’24 to ’25. We lower our ’24 EPS estimate to EUR19.65 from EUR19.88 and increase ’25’s view to EUR26.15 from EUR25.56 as we budget in a bit more softness in early ’24, followed by an acceleration toward the end of the year and solid strength in ’25 as new technologies like gate-all-around are introduced in higher volumes. We see Chinese demand pulling back to start ’24 as export restrictions take hold, but we expect demand for ASML’s one-of-a-kind systems to be picked up by other countries as the global race for advanced semiconductor technology continues. We note ASML’s backlog

ASML Holding (NASDAQ: ASML) Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 11/30/2023 29.25% JP Morgan $726 → $878 Maintains Overweight 10/19/2023 6.88% JP Morgan $732 → $726 Maintains Overweight 10/12/2023 19.24% Susquehanna $850 → $810 Maintains Positive 10/11/2023 7.76% JP Morgan $772 → $732 Maintains Overweight 07/28/2023 — Bernstein Downgrades Outperform → Market Perform 07/20/2023 17.77% Wells Fargo $775 → $800 Maintains Overweight 06/16/2023 — New Street Research Downgrades Buy → Neutral 01/26/2023 14.09% Argus Research $590 → $775 Maintains Buy 01/26/2023 10.7% JP Morgan $710 → $752 Maintains Overweight 11/14/2022 — Susquehanna Upgrades Neutral → Positive 11/14/2022 -2.1% Wells Fargo $510 → $665 Maintains Overweight 11/08/2022 — Morgan Stanley Initiates Coverage On → Overweight 10/21/2022 — New Street Research Upgrades Neutral → Buy 10/20/2022 — Deutsche Bank Upgrades Hold → Buy 10/10/2022 -24.92% Wells Fargo $600 → $510 Maintains Overweight 07/21/2022

JPMorgan analyst Sandeep Deshpande maintains ASML Holding with a Overweight and lowers the price target from $732 to $726.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We reduce our 12-month target by $117 to $731, 35x our 2024 EPS view, above peers due to ASML’s monopoly position in EUV and strong growth expected in 2025. We up our 2023 EPS estimate by EUR0.68 to EUR19.60, but reduce 2024’s by EUR3.05 to EUR19.88 as more sales are pushed into 2025 (we also start our 2025 EPS estimate at EUR25.56). ASML printed Q3 EPS of EUR4.81 (+12% Y/Y) and revenue of EUR6.67B (+15% Y/Y), both near consensus. Macro uncertainty is driving flat estimates for 2024 as ASML prepares for a strong 2025, driven by new global fab openings. We see 2024 estimates as conservative as demand for ASML’s systems remains above supply (backlog of EUR35B) and we see upside from a potential recovery in memory.

ASML (ASML.AS) said Wednesday that net income and sales gained year over year in the third quarter of 2023. Net income for the three months ended Oct. 1 was 1.89 billion euros, compared with 1.70 billion euros a year ago. EPS was 4.81 euros, compared with 4.29 euros. Net sales of the chip-making equipment maker were 6.67 billion euros, compared with 5.78 billion euros previously. Analysts polled by Visible Alpha were expecting 1.80 billion euros in net income or 4.57 euros per share, while revenue was estimated at 6.69 billion euros. Meanwhile, the board announced an interim dividend of 1.45 euros per share for the period, payable on Nov. 10 to shareholders on record Nov. 2. It paid 1.37 euros per share a year ago. Looking ahead, the Dutch company expects net sales between 6.7 billion euros and 7.1 billion euros for the fourth quarter. It also restated its expectation

ASML Holding (NASDAQ:ASML) reported quarterly earnings of $5.24 per share which beat the analyst consensus estimate of $5.00 by 4.7 percent. This is a 21.18 percent increase over earnings of $4.32 per share from the same period last year. The company reported quarterly sales of $7.26 billion which missed the analyst consensus estimate of $7.49 billion by 3.04 percent. This is a 24.64 percent increase over sales of $5.83 billion the same period last year.