ASML (NASDAQ:ASML) Posts Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• ASML reported earnings of $6.41 EPS, beating expectations by $0.14, while revenue came in lower than projected at $8.71 billion.
• The company announced an increase in its quarterly dividend to $1.857 per share, resulting in a yield of 0.7%.
• Analysts have raised their price targets for ASML, with Wells Fargo increasing its target from $1,105 to $1,140 and maintaining an "overweight" rating.

ASML (NASDAQ:ASML - Get Free Report) issued its quarterly earnings data on Wednesday. The semiconductor company reported $6.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.27 by $0.14, Zacks reports. The firm had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.99 billion. ASML had a net margin of 26.95% and a return on equity of 49.47%. The business's revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $5.28 earnings per share.

ASML Price Performance

ASML stock traded up $16.70 during midday trading on Thursday, reaching $1,026.51. 933,001 shares of the stock were exchanged, compared to its average volume of 1,714,451. The company's fifty day moving average is $852.01 and its 200-day moving average is $768.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.81 and a current ratio of 1.43. The firm has a market cap of $403.71 billion, a PE ratio of 42.87, a PEG ratio of 1.66 and a beta of 1.87. ASML has a 52 week low of $578.51 and a 52 week high of $1,059.00.

ASML Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Wednesday, October 29th will be issued a dividend of $1.857 per share. This is a boost from ASML's previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $7.43 dividend on an annualized basis and a yield of 0.7%. ASML's payout ratio is currently 26.21%.

Hedge Funds Weigh In On ASML

A number of hedge funds and other institutional investors have recently bought and sold shares of ASML. Binnacle Investments Inc grew its stake in ASML by 78.9% in the 2nd quarter. Binnacle Investments Inc now owns 34 shares of the semiconductor company's stock worth $27,000 after buying an additional 15 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its stake in ASML by 100.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 50 shares of the semiconductor company's stock worth $40,000 after buying an additional 25 shares in the last quarter. Shay Capital LLC purchased a new position in ASML in the 2nd quarter worth approximately $240,000. Monetary Management Group Inc. purchased a new position in ASML in the 2nd quarter worth approximately $240,000. Finally, Scott Marsh Financial LLC purchased a new position in ASML in the 2nd quarter worth approximately $296,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

ASML has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of ASML from $1,105.00 to $1,140.00 and gave the company an "overweight" rating in a research report on Thursday. Mizuho raised shares of ASML from a "neutral" rating to an "outperform" rating in a research report on Monday, September 29th. New Street Research reissued a "neutral" rating on shares of ASML in a research report on Monday, October 6th. Morgan Stanley raised shares of ASML from an "equal weight" rating to an "overweight" rating in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. reissued a "buy" rating on shares of ASML in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,051.60.

ASML Company Profile

ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems for chipmakers. It offers advanced semiconductor equipment systems, including lithography, metrology, and inspection systems. The company also provides extreme ultraviolet lithography systems; and deep ultraviolet lithography systems comprising immersion and dry lithography solutions to manufacture various range of semiconductor nodes and technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.