Alta Capital Management LLC Lowers Position in ASML Holding N.V. $ASML

Key Points

• Alta Capital Management reduced its ASML stake by 19.2% in the fourth quarter, selling 9,424 shares and ending with 39,555 shares valued at about $42.3 million.
• Wall Street remains broadly constructive on ASML, with several recent rating actions including a Freedom Capital upgrade to strong-buy and RBC raising its price target to $1,700; the stock’s consensus rating is still Moderate Buy.
• Key business headlines include ASML’s partnership with Tata Electronics on India’s Dholera semiconductor fab and continued share buyback activity, both of which support its long-term growth and shareholder-return narrative.

Alta Capital Management LLC cut its holdings in ASML Holding N.V. (NASDAQ:ASML - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,555 shares of the semiconductor company's stock after selling 9,424 shares during the quarter. ASML makes up about 2.8% of Alta Capital Management LLC's investment portfolio, making the stock its 11th largest position. Alta Capital Management LLC's holdings in ASML were worth $42,318,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Telos Capital Management Inc. lifted its position in shares of ASML by 4.5% during the third quarter. Telos Capital Management Inc. now owns 10,850 shares of the semiconductor company's stock valued at $10,504,000 after buying an additional 463 shares during the last quarter. Regents of The University of California purchased a new stake in shares of ASML during the third quarter valued at about $413,335,000. Dimensional Fund Advisors LP lifted its position in shares of ASML by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 990,816 shares of the semiconductor company's stock valued at $959,180,000 after buying an additional 38,660 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of ASML during the third quarter valued at about $680,000. Finally, Principal Financial Group Inc. lifted its position in shares of ASML by 34.5% during the third quarter. Principal Financial Group Inc. now owns 15,583 shares of the semiconductor company's stock valued at $15,086,000 after buying an additional 4,001 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ASML. Freedom Capital upgraded shares of ASML from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ASML in a report on Thursday, April 16th. Grupo Santander downgraded shares of ASML to an "underperform" rating in a report on Thursday, January 22nd. Royal Bank Of Canada upped their price objective on shares of ASML from $1,625.00 to $1,700.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Finally, Citigroup restated a "buy" rating on shares of ASML in a report on Thursday, April 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,504.38.

Key Headlines Impacting ASML

Here are the key news stories impacting ASML this week:

• Positive Sentiment: ASML announced a partnership with Tata Electronics tied to India’s $11 billion Dholera 300mm fab, expanding ASML’s footprint in a major new semiconductor market and creating a potential pipeline for future DUV-to-EUV tool sales. ASML Expands Globally, Joins Tata for India Semiconductor Hub
• Positive Sentiment: ASML reported transactions under its current share buyback program, which signals continued capital return to shareholders and can help cushion the stock. ASML reports transactions under its current share buyback program
• Neutral Sentiment: A Zacks piece highlighted Wall Street’s generally bullish view on ASML, but it did not include a new rating change or fresh earnings update, so it is unlikely to be a major near-term stock driver. Is It Worth Investing in ASML Based on Wall Street's Bullish Views?

ASML Price Performance

Shares of NASDAQ:ASML opened at $1,472.39 on Tuesday. ASML Holding N.V. has a twelve month low of $683.48 and a twelve month high of $1,603.49. The company's 50 day moving average is $1,416.86 and its 200 day moving average is $1,285.48. The company has a current ratio of 1.36, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. The company has a market cap of $579.06 billion, a PE ratio of 52.81, a price-to-earnings-growth ratio of 1.23 and a beta of 1.81.

ASML (NASDAQ:ASML - Get Free Report) last issued its quarterly earnings data on Monday, March 30th. The semiconductor company reported $8.28 EPS for the quarter. The business had revenue of $10.15 billion for the quarter. ASML had a net margin of 27.65% and a return on equity of 48.69%. On average, sell-side analysts forecast that ASML Holding N.V. will post 37.09 EPS for the current year.

ASML 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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