ASML (NASDAQ:ASML) Shares Down 2% - Here's What Happened

Key Points

• ASML shares fell 2% to approximately $1,678.22 during midday trading, with volume below the stock’s average session level.
• Analyst sentiment remains positive: DZ Bank upgraded ASML to “strong buy,” JPMorgan raised its price target to $2,400, and the stock carries a consensus “Moderate Buy” rating with an average target of $1,970.33.
• ASML reported quarterly EPS of $8.65 on $10.64 billion in revenue and announced a quarterly dividend of $2.1507 per share, equivalent to a 0.5% annualized yield.

ASML Holding N.V. (NASDAQ:ASML - Get Free Report) shares traded down 2% during mid-day trading on Wednesday . The stock traded as low as $1,671.75 and last traded at $1,678.22. 1,214,691 shares changed hands during trading, a decline of 36% from the average session volume of 1,898,103 shares. The stock had previously closed at $1,711.89.

Analyst Ratings Changes

Several research analysts recently weighed in on ASML shares. DZ Bank upgraded shares of ASML from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. increased their target price on ASML from $2,200.00 to $2,400.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ASML in a research report on Friday, July 10th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ASML in a report on Thursday, June 11th. Finally, Citigroup reissued a "buy" rating on shares of ASML in a research note on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, ASML has a consensus rating of "Moderate Buy" and an average price target of $1,970.33.

ASML Trading Down 2.0%

The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $1,763.99 and a 200-day simple moving average of $1,545.51. The company has a market capitalization of $660.01 billion, a PE ratio of 52.22, a PEG ratio of 0.82 and a beta of 1.79.

ASML (NASDAQ:ASML - Get Free Report) last posted its quarterly earnings results on Sunday, June 28th. The semiconductor company reported $8.65 EPS for the quarter. The business had revenue of $10.64 billion for the quarter. ASML had a return on equity of 52.71% and a net margin of 30.11%. Analysts predict that ASML Holding N.V. will post 44.68 EPS for the current year.

ASML Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Tuesday, July 28th will be paid a dividend of $2.1507 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $8.60 dividend on an annualized basis and a yield of 0.5%. ASML's payout ratio is 22.62%.

Institutional Trading of ASML

Hedge funds have recently made changes to their positions in the company. Cornerstone Financial Management LLC purchased a new position in ASML in the fourth quarter worth approximately $26,000. Portus Wealth Advisors LLC purchased a new stake in ASML in the first quarter valued at $32,000. Resources Management Corp CT ADV raised its position in ASML by 1,150.0% in the fourth quarter. Resources Management Corp CT ADV now owns 25 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 23 shares during the period. North Star Investment Management Corp. lifted its stake in shares of ASML by 68.8% in the 4th quarter. North Star Investment Management Corp. now owns 27 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 11 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in shares of ASML during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

ASML Company Profile

ASML Holding N.V. NASDAQ: ASML is a Dutch company that develops, manufactures and services advanced photolithography systems used to produce semiconductor chips. Headquartered in Veldhoven, Netherlands, ASML supplies capital equipment and associated software and services that enable semiconductor manufacturers to pattern the intricate circuits on silicon wafers. The company is widely recognized for its leadership in extreme ultraviolet (EUV) lithography as well as its deep ultraviolet (DUV) platforms used across multiple process nodes.

ASML's product portfolio includes EUV and DUV lithography machines, light sources, imaging optics and control software, together with spare parts, upgrades and field services.

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