Independence Bank of Kentucky Decreases Stock Holdings in ASML Holding N.V. $ASML

Key Points

• Independence Bank of Kentucky reduced its ASML stake by 14% in the second quarter, selling 647 shares and retaining 3,982 shares worth approximately $7.92 million. ASML represents about 0.9% of the bank’s portfolio.
• ASML remains broadly favored by analysts, with an overall “Moderate Buy” rating and an average price target of $1,970.33; 25 analysts rate the stock Buy or Strong Buy.
• ASML reported quarterly earnings of $8.65 per share on $10.62 billion in revenue, while its shares opened at $1,665.14—down 1.8%—and the company paid a quarterly dividend of $2.1507 per share.

Independence Bank of Kentucky lessened its holdings in ASML Holding N.V. (NASDAQ:ASML - Free Report) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,982 shares of the semiconductor company's stock after selling 647 shares during the period. ASML comprises approximately 0.9% of Independence Bank of Kentucky's holdings, making the stock its 22nd biggest holding. Independence Bank of Kentucky's holdings in ASML were worth $7,922,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Field & Main Bank acquired a new position in shares of ASML during the second quarter worth about $30,000. Cornerstone Financial Management LLC acquired a new position in ASML during the 4th quarter worth approximately $26,000. Portus Wealth Advisors LLC acquired a new stake in ASML in the first quarter valued at approximately $32,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of ASML during the second quarter valued at approximately $48,000. Finally, Resources Management Corp CT ADV lifted its position in shares of ASML by 1,150.0% during the fourth quarter. Resources Management Corp CT ADV now owns 25 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 23 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of ASML in a report on Tuesday, July 7th. Berenberg Bank reaffirmed a "buy" rating on shares of ASML in a research report on Friday, May 8th. Sanford C. Bernstein boosted their price target on ASML from $1,971.00 to $2,623.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. The Goldman Sachs Group restated a "buy" rating on shares of ASML in a research note on Thursday, June 11th. Finally, Argus set a $2,100.00 target price on ASML in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,970.33.

ASML Stock Down 1.8%

Shares of ASML stock opened at $1,665.14 on Wednesday. The business has a 50-day moving average price of $1,758.02 and a 200 day moving average price of $1,596.40. ASML Holding N.V. has a fifty-two week low of $716.20 and a fifty-two week high of $1,999.96. The firm has a market cap of $654.87 billion, a P/E ratio of 51.81, a P/E/G ratio of 0.84 and a beta of 1.79. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.09.

ASML (NASDAQ:ASML - Get Free Report) last issued its earnings results on Sunday, June 28th. The semiconductor company reported $8.65 EPS for the quarter. The company had revenue of $10.62 billion during the quarter. ASML had a return on equity of 52.71% and a net margin of 30.11%. On average, sell-side analysts forecast that ASML Holding N.V. will post 44.99 earnings per share for the current fiscal year.

ASML Cuts Dividend

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

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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