UPDATE 1-ASMI shares down as it awaits new A. Materials bid

(Adds analyst comment, updates share price)

AMSTERDAM, Sept 5 (Reuters) - Shares in Dutch semiconductor equipment maker ASM International (ASMI.AS: Quote, Profile, Research) (ASMI.O: Quote, Profile, Research) fell 3 percent in early trade on Friday after the company said it was still waiting for a new offer from Applied Materials (AMAT.O: Quote, Profile, Research).

In June ASMI (ASMI.O: Quote, Profile, Research) turned down a bid worth up to $800 million from U.S. rival Applied Materials (AMAT.O: Quote, Profile, Research) and Francisco Partners for its key units, saying it undervalued the business and its future prospects.

A monitoring panel made up of ASMI adviser Lehman Brothers and activist shareholders Hermes, Fursa and Centaurus has been set up to seek the best possible offer from Applied Materials and Francisco Partners.

"It does not seem logical to us that AMAT would raise its offer, which already implied a steep premium compared to sector valuations," said SNS Securities analyst Victor Bareno.

ASMI shares led decliners in the mid-cap index and were down 3 percent at 17.41 euros by 0734 GMT. (Reporting by Foo Yun Chee, editing by Will Waterman)