ASML Slip on Slowdown Concerns
Tuesday June 6, 12:31 pm ET
ASML Shares Continue Slide After Analyst Predicts Slowdown in Second Half of the Year
NEW YORK (AP) -- Shares of ASML Holding NV, a Dutch semiconductor equipment maker, took a hit in Tuesday afternoon trading after an analyst predicted the company could be approaching "cyclical headwinds."
American Depositary Shares of ASML, which have traded between $15.45 and $23.64 over the last year and slid Monday, fell 51 cents, or nearly 3 percent, to $19.84 in afternoon trading on the Nasdaq.
Susquehanna Financial Group analyst Kevin Vassily, who initiated coverage on the stock with a "Neutral" rating, thinks the company can grow market share in immersion lithography, but he views the semiconductor industry as verging on a slowdown.
"Given our view that the semiconductor industry currently sits at a cyclical peak, coupled with ASML's recent order guidance of 40 percent sequential unit growth in the second quarter, the likelihood of an order slowdown in the second half of the year has increased greatly for the company," Vassily wrote in a note. |
