By midmorning, shares had taken off 4.8% to $81.08.
The Netherlands-based holding company reported net profit 249.1 million euros in its first quarter compared to 481 million euros in the previous quarter. Revenue of 1.4 billion euros was 24% lower quarter-on-quarter.
For the second quarter, management expects slowing sales."Sales in the second quarter are ... expected to be affected by adjustments of system demand from some logic customers," said CEO Peter Wennick in a statement. Must read: Warren Buffett's 10 Favorite Growth Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates ASML HOLDING NV as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation: "We rate ASML HOLDING NV (ASML) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
- You can view the full analysis from the report here: ASML Ratings Report