Shares of semiconductor equipment leader ASML Holdings ( ASML 3.23%) plummeted 16.7% this week through Thursday trading, according to data from S&P Global Market Intelligence.

ASML’s earnings shocker took down much of the semiconductor sector this week, but the Dutch company’s own stock was hit hardest. While catching a falling knife is always a dangerous business, Wall Street analysts see reason to believe the drop went too far.

ASML followed up those grim headline numbers with a disappointing near-term outlook. It expects revenues to rise 22% to 28% year over year in the fourth quarter, but to only rise about 1% to 28 billion euros ($30.