Suncoast Equity Management Takes Position in ASML Holding N.V. $ASML

Key Points

• Suncoast Equity Management initiated a roughly $15.8 million position in ASML during the second quarter, making the semiconductor equipment maker 2.0% of the fund’s portfolio and its 21st-largest holding.
• Other institutions also increased or initiated ASML positions, while institutional investors collectively owned 26.07% of the company’s stock.
• ASML reported quarterly revenue of $10.64 billion and EPS of $8.65. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,970.33, compared with shares opening at $1,844.45.

Suncoast Equity Management purchased a new stake in shares of ASML Holding N.V. (NASDAQ:ASML - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,930 shares of the semiconductor company's stock, valued at approximately $15,776,000. ASML accounts for approximately 2.0% of Suncoast Equity Management's holdings, making the stock its 21st biggest position.

A number of other institutional investors also recently bought and sold shares of the stock. Symphony Financial Ltd. Co. bought a new position in shares of ASML in the 2nd quarter worth approximately $342,000. DSM Capital Partners LLC boosted its position in shares of ASML by 35.6% during the second quarter. DSM Capital Partners LLC now owns 4,449 shares of the semiconductor company's stock valued at $8,851,000 after purchasing an additional 1,167 shares in the last quarter. Acumen Wealth Advisors LLC boosted its position in shares of ASML by 172.8% during the second quarter. Acumen Wealth Advisors LLC now owns 1,918 shares of the semiconductor company's stock valued at $3,816,000 after purchasing an additional 1,215 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in ASML in the second quarter worth $259,000. Finally, University of Texas Texas AM Investment Management Co. grew its stake in ASML by 4,490.9% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 1,010 shares of the semiconductor company's stock worth $2,009,000 after purchasing an additional 988 shares during the period. 26.07% of the stock is owned by institutional investors.

ASML Stock Down 0.2%

Shares of NASDAQ:ASML opened at $1,844.45 on Friday. The stock has a fifty day simple moving average of $1,781.65 and a two-hundred day simple moving average of $1,567.15. The stock has a market capitalization of $725.39 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 0.92 and a beta of 1.79. ASML Holding N.V. has a 12-month low of $716.20 and a 12-month high of $1,999.96. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09.

ASML (NASDAQ:ASML - Get Free Report) last released its earnings results on Sunday, June 28th. The semiconductor company reported $8.65 EPS for the quarter. ASML had a return on equity of 52.71% and a net margin of 30.11%.The firm had revenue of $10.64 billion for the quarter. On average, research analysts anticipate that ASML Holding N.V. will post 44.85 earnings per share for the current fiscal year.

ASML Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Sanford C. Bernstein raised their price objective on ASML from $1,971.00 to $2,623.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. Berenberg Bank reaffirmed a "buy" rating on shares of ASML in a research report on Friday, May 8th. Zacks Research lowered shares of ASML from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 3rd. Weiss Ratings raised shares of ASML from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Finally, Jefferies Financial Group reissued a "neutral" rating on shares of ASML in a research note on Monday, June 1st. Four 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,970.33.

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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