Spaniard Ferrer, the top seed, brushed aside Italy's Paolo Lorenzi 6-3 6-0 in just over an hour, breaking four times and not facing a single break point on his own serve.
Second-seeded Frenchman Gasquet crushed Lukas Lacko of Slovakia 6-1 6-3, breaking five times and dropping his serve once.
But compatriot Gael Monfils crashed out at the hands of German qualifier Daniel Brands.
The world number 153 won 6-1 7-5 to book his place in the final four.
Russian Nikolay Davydenko completed the semi-final line-up following a 6-1 6-1 triumph over Italy's Simone Bolelli.