ASML expects limited impact from U.S. chip restrictions on China

ASML Holding NV (AMS: ASML) is in the green this morning after the semiconductor-equipment maker reported better-than-expected results for its fiscal third quarter on strong demand.

ASML Q3 financial highlights

ASML earned €1.70 billion ($1.68 billion) versus the year-ago €1.71 billion. Net sales climbed just over 10% this quarter to €5.78 billion. According to FactSet, experts had forecast €1.51 billion profit on €5.1 billion in sales.

Gross margin improved 10 basis points to 51.8% in Q3.

More importantly, ASML said it does not expect a meaningful hit to its business from recent restrictions the U.S. announced on export of sophisticated chips to China. On CNBC’s “Squawk Box Europe”, Citi’s Amit Harchandani said:

ASML’s full-year outlook and dividend

For the full financial year, ASML forecasts €21.1 million in sales.

Also on Wednesday, the company’s board declared €1.37 a share of interim dividend. In the earnings press release, CEO Peter Wennink said:

The U.S. listed shares of ASML NV are currently down more than 45% for the year, which, as per Wall Street, is a great opportunity to invest in this stock.