ASML - ASML Holding N.V.
Chart Events
Engulfing Line (Bearish)
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 278.58 |
| Open | 282.22 |
| Bid | 277.66 x 800 |
| Ask | 299.89 x 1800 |
| Day's Range | 275.12 - 285.13 |
| 52 Week Range | 186.31 - 319.22 |
| Volume | 695,778 |
| Avg. Volume | 1,149,598 |
| Market Cap | 118.167B |
| Beta (5Y Monthly) | 0.89 |
| PE Ratio (TTM) | 39.78 |
| EPS (TTM) | 6.96 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 2.99 (1.08%) |
| Ex-Dividend Date | Apr 23, 2020 |
| 1y Target Est | 284.62 |
Fair Value
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- Reuters
ASML cuts guidance for Q1 sales amid coronavirus
Dutch semiconductor equipment maker ASML said on Monday it expected its revenue in the first quarter to be signifiantly lower than expected due to the global coronavirus outbreak. ASML said revenues were expected to be between 2.4 billion and 2.5 billion euros ($2.77 billion) in the first quarter, with a gross margin of 45% to 46%. ASML said that demand for its products remains strong but it had experienced delays and shipping difficulties to customers in Wuhan, China "as well as other customers due to shipment and travel restrictions" regarding the coronavirus outbreak.
- GlobeNewswire
ASML updates the market on expected Q1 2020 results, primarily related to COVID-19 impact
VELDHOVEN, the Netherlands, March 30, 2020 - today ASML Holding NV (ASML) provides an update on the expected Q1 results, primarily related to the impact of the coronavirus (COVID-19). This decision follows the pause in the execution of the program in the first quarter, after having already performed share buybacks under the new program for an amount of approximately €507 million.
- Investor's Business Daily
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- GlobeNewswire
ASML reports transactions under its current share buyback program
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- Bloomberg
Shielded from Pandemic, Work Continues in World’s Cleanest Room
(Bloomberg) -- A two-hour drive south of Amsterdam in Veldhoven, workers decked out head-to-toe in protective gear toil in vast assembly halls. Before entering the inner sanctuary of the facilities, they meticulously layer on masks, gloves and special socks. A single speck of dust or a hair can have devastating effects on production. The result of all this painstaking process is an environment that is 10,000 times more purified than outside.And as the coronavirus grips the world, it might just be the safest place to work right now.The teams belong to ASML Holding NV, which holds a de-facto monopoly on the industry of extreme ultraviolet lithography machines needed to make next-generation chips. Each cost about 150 million euros ($160 million) apiece and ship mainly to the U.S., Korea and Taiwan, where the likes of Intel Corp., Samsung Electronics Co. or Taiwan Semiconductor Manufacturing Co., known as TSMC, rely on them to make faster, cheaper and more energy efficient semiconductors.ASML manufacturing staff operate in an environment that is literally shielded from the coronavirus pandemic that has forced millions of workers around the world to isolate themselves from colleagues to slow the spread of the disease. As the rest of the Netherlands and much of the continent locks down, work in ASML’s Veldhoven clean-rooms has continued largely unhindered, potentially giving the company an edge for when corporate life returns to normal.“So far we have been able to keep our production going,” said Frits van Hout, ASML’s chief strategy officer, ASML. “The situation is of course dynamic. We encounter challenges as with every lockdown our suppliers will be affected, directly or indirectly.”Keeping DistanceLike other companies, ASML has also implemented a raft of contingency measures –from segmenting staff to drawing up plans if disaster strikes at a key supplier -- so it can keep manufacturing equipment for chip-makers around the world. Workers are split into two teams and are screened for virus symptoms via infrared thermal cameras at the entrance of the clean room in Veldhoven.Social distancing protocols are in effect, and the company has spaced out the morning and night shift to ensure the groups don’t meet, ASML said.Clean rooms are highly specialized infrastructure that’s costly to set up and maintain, making that kind of environment difficult to replicate in other industries. The biggest risk for the company lies not so much in its own operations seizing up but in a potential breakdown of its 5,000 suppliers, 790 of which provide materials and equipment that are used directly to produce the ASML systems.Besides its ultra-sanitized work environment, ASML has the benefit of making machines that are considered almost recession-proof, given its commanding lead in an industry on the cusp of another technological leap: high-speed 5G networks.On Track“Most customers want EUV and if ASML cannot deliver due to such a factor, then they know they have to wait until the next quarter because you cannot get it anywhere else,” said Marcel Achterberg, executive director of equity research at KBC Bank.The prized EUV machines are the size of a bus. Customers can order older equipment, but EUV delivers better resolution, smaller components and improved performance in the chips it produces.They’re a crucial source of revenue for ASML’s customers, too. By the end of next year, as much as half of TSMC’s revenue will depend at least partly on some EUV processes, according to Bloomberg Intelligence analyst Masahiro Wakasugi.Volume production of TSMC’s most cutting-edge 5-nanometer chips, which use EUV, is still “on track” for the first half of 2020 as previously stated by management, TSMC spokeswoman Nina Kao saidFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Hedge fund Bridgewater places $15 bln in bets against Europe and UK
Hedge fund behemoth Bridgewater has shown its hand in Europe with roughly $15 billion in bets against companies on the continent and in Great Britain, filings reviewed by Reuters show. The world's biggest hedge fund manager's short positions amount to more than $5.3 billion in France and $4.7 billion in Germany, while in Spain its shorts add up to almost $1.4 billion and $821 million in three Italian companies. Hedge funds engage in the practice of 'shorting' by borrowing a stock from an institutional investor, such as a pension plan, and selling it back at a profit when the price drops.
- Simply Wall St.
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- Insider Monkey
Hedge Funds Have Never Been This Bullish On ASML Holding N.V. (ASML)
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
- GlobeNewswire
ASML publishes 2020 AGM agenda
ASML publishes 2020 AGM agenda VELDHOVEN, the Netherlands, March 9, 2020 - ASML Holding NV (ASML) today publishes the agenda and the explanatory notes for the Annual General.
- Bloomberg
Infineon Deal Scrutiny Raises Trade Threat to Europe Tech Firms
(Bloomberg) -- U.S. officials are dragging Europe’s technology industry more deeply into a trade war with China, threatening the region’s ability to create its own semiconductor giants.The Committee on Foreign Investment is urging President Trump to block Infineon Technologies AG’s $8.7 billion acquisition of Cypress Semiconductor Corp., claiming it poses a risk to national security, Bloomberg News first reported Thursday. Although it wasn’t clear what spooked Cfius, both Infineon and Cypress have Chinese customers including Huawei Technologies Co. Cfius is sensitive about deals allowing Chinese buyers to get their hands on advanced American technology.QuickTake: All About CFIUS, Trump’s Watchdog on China DealmakingEurope’s tech firms have tried to stay neutral in the power struggle. Semiconductor makers said earlier this year that they’d keep supplying Huawei after after a Trump’s administration order in May demanding U.S.-based companies stop. At the time a spokesman for Infineon said the majority of products it delivers to Huawei were not subject to U.S. restrictions.In recent months European lawmakers have pushed back against Trump’s calls to cut Huawei out of European telecom infrastructure. The U.K., France, and Germany are all looking to keep the door open to the Chinese telecom giant in some way, nubbing the U.S. view that Huawei could be a security risk. Italy, Croatia, Hungary and Switzerland have signed partnerships with Huawei.Huawei is Infineon’s sixth-largest customer accounting for about 2.4% of sales, according to supply chain data compiled by Bloomberg. Other Chinese buyers of Infineon products include iPhone-assembler Hon Hai Precision Industry Co. and Tencent Holdings Ltd.“Obviously national security considerations are very important,” said Keily Blair, Partner at law firm Orrick. “It would be good to see an evidence-based approach in the U.S., similar to what we have seen in the U.K. with Huawei.”In 2017, Cfius blocked Infineon’s proposed deal for Wolfspeed, a semiconductor unit of U.S.-based Cree Inc. Aixtron SE’s planned sale to a Chinese-backed company collapsed in 2016 after U.S. opposition. Trump has also blocked Broadcom Inc.’s hostile takeover of Qualcomm Inc.“We have always been less sure about the regulatory approvals than Infineon management,” said Citigroup Inc. analyst Amit Harchandani, “given the number of recent cross-border deals failing to clear the regulatory hurdle.”The U.S. is also trying to dictate who European firms do business with. Dutch chip gear-maker ASML Holding NV has had difficulty renewing an export license to China following U.S. political pressure. The company wants to sell equipment to China that would help the company produce its own next-generation chips and help it wean itself off foreign imports.In January, U.S. ambassador to the Netherlands Pete Hoekstra told Dutch newspaper Het Financieele Dagblad that ASML’s technology “doesn’t belong in certain places,” suggesting China. The Chinese ambassador, Xu Hong, had warned days earlier in the same paper that the relationship between the Netherlands and China was at risk if the government blocks EUV machine exports.Other European tech deals are now in focus. British chip designer Dialog Semiconductor is another key figure in the European tech supply chain with Chinese customers and American acquisition targets. In February, it said it’d agreed to buy Santa Clara, California-based Adesto Technologies Corp. for about $380 million.Dialog’s biggest customer is Apple Inc., but Huawei is its third-largest with an exposure of about 2.1%. Dialog CEO Jalal Bagherli declined to comment when contacted by Bloomberg on Friday.Although Cypress’s share price has collapsed following the report that Cfius is interested in the deal, some analysts believe all is not lost. “We believe mitigation conditions might still be an option and it would be premature to assume the deal is off,” said Citi’s Harchandani.“We believe worst-case we have a delay until the closing,” Vijay Rakesh, analyst at Mizuho Sescurites, said. A “potential delay or divestiture would be par for the course, but we see deal as mostly consummated.”\--With assistance from Nate Lanxon.To contact the reporters on this story: Giles Turner in London at gturner35@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Nate Lanxon, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Lam Research, KLA stocks slip after report says U.S. could restrict chip-equipment sales to China
Shares of chip-equipment companies Lam Research Corp. and KLA Corp. are off more than 3% in Tuesday morning trading after a Wall Street Journal report indicated that the Trump administration is considering restricting on semiconductor-equipment sales to China. The Commerce Department is weighing rule changes that would let the agency ask for licenses from any companies that wanted to use U.S. equipment to make chips for Huawei Technologies Co., according to the WSJ report. "This time around, the administration appears to be going after such [semiconductor capital-equipment] vendors like Applied Materials , KLA, Lam Research and Teradyne that sell equipment to the likes of Taiwan Semiconductor ," wrote Susquehanna analyst Mehdi Hosseini. "TSM uses such equipment to make chips for the likes of Apple and Huawei. Perhaps the administration has realized they cannot restrict ASML , the key enabling vendor!" Hosseini said that this potential development, along with the new coronavirus, represent near-term headwinds for chip-equipment companies.
- Bloomberg
Tech Investors Jolted by Apple Pin Hopes on a Fast Turnaround
(Bloomberg) -- Tech stock futures fell as traders worked to price in the impact of a revenue shortfall at a company responsible for more than a tenth of the S&P 500’s gain over the last year.While Apple Inc. described the impact of the coronavirus on its sales as “temporary,” slips among big tech companies sit uneasily with investors who have watched many stocks soar 50% or more over the past 12 months. The iPhone maker has a 12% weighting in the Nasdaq 100 Index, which closed last week at 29.4 times annual earnings, the highest in a decade.“This will be an important test,” said Jason Browne, president of Alexis Investment Partners. “Obviously, Apple is a huge weight in major indexes, and one of the most loved companies by investors. That may help as it has generally been better to buy Apple on setbacks than to sell, especially if the market expects the disruption to be temporary.”March contracts on the S&P 500 fell 0.4% as of 8:06 a.m. in London. Futures on the Nasdaq 100 lost 0.9%. Exchange trading of individual U.S. shares has been closed since Friday for the Presidents’ Day holiday. Both the tech-heavy Nasdaq and Apple itself are already up more than 10% in 2020, after an 86% rally in Apple last year pushed the gauge to its best performance since 2009.In a Monday release, Apple said it doesn’t expect to meet its revenue guidance for the March quarter due to work slowdowns and lower demand caused by the outbreak of novel coronavirus in China. The company had forecast revenue of $63 billion to $67 billion for the fiscal second quarter ending in March. Analysts on average estimated $65.23 billion.Equity traders face a difficult task in determining how much of the weakness is specific to Apple and whether to project the shortfall on the broader market. The company has always been likely to fare worse, given how much of its supply chain and consumer market are in China. At the same time, the sales warning is one of the most tangible examples of impact on a U.S. company and Apple’s size makes it capable of swaying indexes by itself.“My gut says I think the market probably expects this to some extent, and we know this market tends to look through things pretty well,” said Nathan Thooft, Manulife Asset Management’s head of global asset allocation. “People had anticipation that some of these companies would be affected by what was going on there and they certainly knew there were closures and supply chain issues.”While no rally is straight up, the one that has swollen Apple’s market value by as much as $545 billion since early August comes close, with only three down weeks in 21. The iPhone maker received 18% of its revenue from China in fiscal year 2019, data compiled by Bloomberg show, enough to keep analysts worried about the longer-term consequences of the outbreak.Apple’s news will have ramifications for a long list of semiconductors and other suppliers around the world. Its announcement came hours after Dow Jones reported that President Trump’s administration is considering new trade restrictions that would limit the use of U.S. equipment to produce chips for China’s Huawei Technologies Co.European equities opened lower on Tuesday, led by technology shares as the Stoxx 600 Technology Index fell as much as 1.6%. Semiconductor stocks tumbled, with ASML Holding NV falling 2.3%, STMicroelectronics NV dropping 2.6% and Infineon Technologies AG retreating 2.3%.“Of all the big companies exposed to China, this announcement seemed the most inevitable,” Michael Antonelli, managing director and market strategist at Robert W. Baird & Co, said by email. “What will this do to the market? It will remind investors that the risks surrounding the coronavirus are still unknown and unquantifiable. There will likely be an increase in volatility this week.”Apple’s most famous profit warning came in November 2018 amid the U.S. stock market’s worst stretch since the financial crisis. Its shares tumbled 7.1% on Nov. 2, 2018, after Apple reported stagnant iPhone sales and forecast revenue for the holiday quarter that fell short of Wall Street expectations at the midpoint. The Nasdaq 100 lost 1.5% that day.“We’ve been getting nothing but headlines about the virus for weeks. Starbucks is closing its stores, Caterpillar is shutting its facilities. Company after company has been saying this,” Jim Paulsen, chief investment strategist at Leuthold Group, said by phone. “We have been expecting bad sales headlines, this isn’t good, but it’s not surprising.”To contact the reporters on this story: Sarah Ponczek in New York at sponczek2@bloomberg.net;Elena Popina in New York at epopina@bloomberg.net;Catherine Larkin in Chicago at clarkin4@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Chris NagiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- GlobeNewswire
ASML successfully places Eurobond offering for €750 million
ASML successfully places Eurobond offering for €750 million Veldhoven, the Netherlands, February 17, 2020 – ASML Holding NV (ASML) today announces that it has successfully.
- Moody's
ASML Holding N.V. -- Moody's assigns A3 rating to ASML's proposed senior notes
Moody's Investors Service, ("Moody's") has today assigned an A3 rating to ASML Holding N.V.'s (ASML, A3 stable) proposed issue of Euro-denominated senior unsecured notes due 2030. This is because of the company's dominant position in the market for semiconductor lithography equipment and our expectation that ASML will continue to perform better than the overall wafer fabrication equipment market, as the industry adopts new leading-edge nodes with increased lithography intensity. Moody's forecasts that ASML will be able to reduce leverage in the course of 2020, driven predominantly by EBITDA growth.
