Citigroup analysts project that consensus earnings estimates for 2026 will be raised by at least 10%. Since the start of the year, shares of the Dutch semiconductor equipment supplier have climbed approximately 63%.

ASM International, a supplier of semiconductor manufacturing equipment based in the Netherlands, reported first-quarter sales that surpassed analyst expectations, driven by increased investment in the artificial intelligence sector. The company's stock advanced as a result.

During early European trading, the stock rose 8.2% to €846.40, bringing its year-to-date gain to around 63%.

The group, which provides thin film deposition wafer processing equipment, announced that quarterly sales increased to €862.5 million (approximately $1.01 billion), up from €839.2 million in the same period last year. Analysts surveyed by research firm Visible Alpha had anticipated sales of €834.6 million.

Net profit reached €238.5 million, compared to a loss of €28.9 million a year earlier. Gross profit, a key indicator of pricing power and profitability, came in at €459.9 million, representing a gross margin of 53.3%, slightly down from 53.4% in the prior-year period.

ASM forecasts second-quarter sales of approximately €980 million at constant exchange rates and expects stronger performance in the second half of the year compared to the first.

In a note to clients, Citigroup analysts stated they anticipate market consensus earnings for 2026 to be revised upward by at least 10%. They noted that ASM is benefiting from stronger-than-expected demand for advanced logic chips driven by artificial intelligence, coupled with the company's solid execution.