ASML Holding NV (ADR)(NASDAQ: ASML) in the first quarter of FY 17 has reported the adjusted earnings per share of $1.12, beating the analysts’ estimates for the adjusted earnings per share of 99 cents. The company had reported the adjusted revenue growth of 35.9 percent to $2.07 billion in the first quarter of FY 17, beating the analysts’ estimates for revenue of $1.93 billion. The EUV backlog has grown to 21 systems valued at EUR 2.3 billion in the first quarter. As per January 1st, 2017 ASML’s systems backlog and net bookings also included metrology and inspection systems. The company’s systems backlog and net bookings include all system sales orders for which written authorizations have been accepted (for EUV starting with the NXE:3350B).
ASML Holding expects in the second quarter 2017, the net sales between EUR 1.9 and 2.0 billion, which includes approximately EUR 200 million EUV revenue and a gross margin between 43 and 44 percent. During the second quarter of FY 17, the R&D costs is expected to be of about EUR 315 million, other income of about EUR 24 million, which consists of contributions from participants of the Customer Co- Investment Program, SG&A costs of about EUR 100 million and an effective annualized tax rate between 13 and 14 percent. The company expects three NXE:3400B shipments in the second-quarter of 2017.
ASML Holding has submitted a proposal to the 2017 Annual General Meeting of Shareholders, that takes place on April 26th, 2017, to declare a dividend in respect of 2016 of EUR 1.20 per ordinary share (for a total amount of approximately EUR 515 million), compared with a dividend of EUR 1.05 per ordinary share paid in respect of 2015.
Moreover, ASML Holding had in January 2016 announced its intention to purchase up to EUR 1.5 billion of shares to be executed within the 2016-2017 time frame. ASML intends to cancel the shares upon repurchase. As announced on November 3rd, 2016, the share buyback program of the company is currently paused. As a result, the 2016-2017 program may not be completed for the full amount. The current program remains in place, yet it may be further suspended, modified or discontinued at any time.
ASML stock has risen 31.24% in the last one year (source: Google Finance). But ASML has an average price target of $130, which is a downside of 0.50% (Source: tipranks.com)