INTC - ASM International dips despite strong Q1 guidance new buyback

Dutch semiconductor equipment maker ASM International (OTCQX:ASMIY) shares dipped on Tuesday even after the company posted fourth-quarter revenue that rose 70% year-over-year and forecast a strong first-quarter amid continued strength in the sector. On Tuesday, ASMI said it expects revenue to be between $567 million and $601 million, or 500 million to 530 million Euros, compared to 491.3 million euros in the fourth-quarter of 2021. Gross margin during the fourth-quarter was 47%, down slightly from the 47.2% in the third-quarter, but up from the 45.2% in the fourth-quarter of 2020. ASMI shares fell nearly 2% to $324.03 on light-volume on Tuesday. In addition to the strong outlook, ASMI said that its board of directors authorized a new 100 million euro buyback program to be completed within the 2022-2023 time frame. ASMI also said that it would propose a €2.50 per common share dividend, an increase of 20% from 2020. ASM International competitor

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ASM International dips despite strong Q1 guidance, new buyback