Business

ASML Stock, LRCX Stock Move On Earnings News


Semiconductor tools maker ASML (ASML) on Wednesday beat Wall Street’s gross sales goal for the primary quarter and matched views on earnings. However, it forecast gross sales under estimates for the present quarter. ASML inventory rose on the information. Meanwhile, trade peer Lam Research (LRCX) was as a result of report quarterly outcomes after the closing bell.




X



Netherlands-based ASML earned the equal of $1.94 a share on gross sales of $3.97 billion within the March quarter. Analysts anticipated ASML earnings of $1.94 a share on gross sales of $3.86 billion, based on FactSet. In the year-earlier interval, ASML earned $3.86 a share on gross sales of $5.25 billion. ASML studies monetary ends in euros.

For the present quarter, ASML forecast gross sales of $5.65 billion, based mostly on the midpoint of its outlook. Analysts have been on the lookout for second-quarter gross sales of $6.45 billion, FactSet stated.

The Dutch firm makes superior lithography tools for etching tiny circuits onto semiconductors.

ASML Stock Climbs After Report

In premarket buying and selling on the inventory market at this time, ASML inventory climbed 5.3% to 649.95.

“We continue to see that the demand for our systems is higher than our current production capacity,” Chief Executive Peter Wennink stated in a information launch. “We are actively working to significantly expand capacity together with our supply chain partners.”

The firm is also contemplating elevating its long-term gross sales outlook, he stated.

“In light of the demand and our plans to increase capacity, we expect to revisit our scenarios for 2025 and growth opportunities beyond,” Wennink stated. “We plan to communicate updates in the second half of the year.”

LRCX inventory rose 1.6% to 487.01 forward of the Lam Research earnings report.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on client expertise, software program and semiconductor shares.

YOU MAY ALSO LIKE:

China Lockdowns, Factory Closures Seen Hurting Apple

Chinese Smartphone Woes Could Pressure Semiconductor Stocks

Is Apple Stock A Buy Before iPhone Maker’s Earnings Report?

Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists

Join IBD Live For Stock Ideas Each Morning Before The Open





Source hyperlink

Leave a Reply

Your email address will not be published.

close