ASML (NASDAQ:ASML) Trading 0.6% Higher – Here’s Why

ASML Holding (NASDAQ:ASML)’s stock price rose 0.6% on Thursday . The stock traded as high as $720.00 and last traded at $713.12. Approximately 594,143 shares traded hands during trading, a decline of 57% from the average daily volume of 1,385,339 shares. The stock had previously closed at $708.62.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ASML shares. Morgan Stanley lowered ASML from an “overweight” rating to an “equal weight” rating in a research note on Friday, September 20th. Wells Fargo & Company lowered their price objective on shares of ASML from $1,000.00 to $790.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Berenberg Bank upgraded shares of ASML to a “strong-buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein decreased their price objective on shares of ASML from $1,052.00 to $815.00 and set an “outperform” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of ASML from $1,207.00 to $1,148.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $970.60.

ASML Stock Performance

The stock has a market capitalization of $280.26 billion, a PE ratio of 36.42, a PEG ratio of 2.08 and a beta of 1.48. The firm’s 50-day simple moving average is $825.27 and its two-hundred day simple moving average is $910.74. The company has a current ratio of 1.52, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31.

ASML Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Tuesday, October 29th will be paid a dividend of $1.407 per share. This represents a $5.63 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Tuesday, October 29th. ASML’s dividend payout ratio (DPR) is presently 28.70%.

Institutional Trading of ASML

Large investors have recently made changes to their positions in the stock. Resources Management Corp CT ADV bought a new stake in ASML during the second quarter valued at about $26,000. WD Rutherford LLC bought a new stake in shares of ASML in the 1st quarter worth approximately $29,000. Triad Wealth Partners LLC acquired a new stake in shares of ASML during the 2nd quarter worth approximately $31,000. First Community Trust NA bought a new stake in shares of ASML during the second quarter valued at approximately $34,000. Finally, POM Investment Strategies LLC bought a new position in ASML in the second quarter worth $36,000. Institutional investors own 26.07% of the company’s stock.

About ASML

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.