ASML (NASDAQ:ASML) Stock Falls 2.4% – Here’s Why

Shares of ASML Holding N.V. (NASDAQ:ASML) traded down 2.4% during trading on Thursday. The stock traded as low as $1,487.85 and last traded at $1,497.12. Approximately 1,826,546 shares were traded during trading, an increase of 4% from the average daily volume of 1,751,289 shares. The stock had previously closed at $1,534.42.

Wall Street Analysts Forecast Growth

ASML has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of ASML from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Wells Fargo & Company upped their price target on shares of ASML from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. reduced their price objective on ASML from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Citigroup reiterated a “buy” rating on shares of ASML in a report on Thursday, October 15th. Finally, Weiss Ratings lowered ASML from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, ASML has a consensus rating of “Moderate Buy” and an average target price of $2,204.71.

ASML Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.49 and a debt-to-equity ratio of 0.09. The stock has a market cap of $577.02 billion, a P/E ratio of 36.86, a PEG ratio of 0.63 and a beta of 1.80. The firm’s fifty day moving average price is $1,667.22 and its 200-day moving average price is $1,601.91.

ASML (NASDAQ:ASML) last posted its quarterly earnings results on Sunday, September 27th. The semiconductor company reported $14.71 EPS for the quarter. ASML had a net margin of 34.10% and a return on equity of 64.24%. The company had revenue of $13.27 billion during the quarter. Analysts forecast that ASML Holding N.V. will post 46.54 earnings per share for the current year.

ASML Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 4th. Shareholders of record on Tuesday, October 27th were given a $2.1077 dividend. The ex-dividend date was Tuesday, October 27th. This is a negative change from ASML’s previous quarterly dividend of $2.1507. This represents a $8.43 dividend on an annualized basis and a dividend yield of 0.6%. ASML’s dividend payout ratio is presently 17.53%.

Hedge Funds Weigh In On ASML

Several hedge funds and other institutional investors have recently modified their holdings of ASML. Boston Common Asset Management LLC bought a new position in ASML during the 1st quarter valued at approximately $4,355,000. Puzo Michael J bought a new stake in shares of ASML in the 2nd quarter worth approximately $1,795,000. Envestnet Asset Management Inc. grew its position in shares of ASML by 6.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 440,721 shares of the semiconductor company’s stock worth $876,783,000 after buying an additional 27,021 shares during the last quarter. State Street Corp increased its stake in shares of ASML by 4.4% during the second quarter. State Street Corp now owns 85,872 shares of the semiconductor company’s stock valued at $170,851,000 after buying an additional 3,632 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of ASML by 12.5% during the second quarter. QRG Capital Management Inc. now owns 26,167 shares of the semiconductor company’s stock valued at $52,057,000 after buying an additional 2,913 shares during the period. 26.07% of the stock is owned by institutional investors.

About ASML

ASML Holding N.V. is a Netherlands-based technology company that develops and manufactures equipment used to produce semiconductor chips. Its systems are used by chipmakers to create the intricate patterns that form circuits on silicon wafers. The company’s products include extreme ultraviolet (EUV) and deep ultraviolet (DUV) lithography systems, along with metrology and inspection equipment, computational lithography software, and related services. ASML also supports customers with system maintenance, upgrades, and technical assistance.