Wells Fargo & Company Cuts ASML (NASDAQ:ASML) Price Target to $790.00

ASML (NASDAQ:ASML) had its price objective trimmed by Wells Fargo & Company from $1,000.00 to $790.00 in a report issued on Thursday, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

ASML has been the subject of several other research reports. Susquehanna decreased their price objective on ASML from $1,300.00 to $1,100.00 and set a “positive” rating for the company in a report on Friday, October 11th. Berenberg Bank upgraded shares of ASML to a “strong-buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley cut shares of ASML from an “overweight” rating to an “equal weight” rating in a research note on Friday, September 20th. Barclays upgraded shares of ASML from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 30th. Finally, UBS Group downgraded ASML from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,018.00.

ASML Price Performance

ASML opened at $723.26 on Thursday. ASML has a 1 year low of $573.86 and a 1 year high of $1,110.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.52 and a quick ratio of 0.84. The company has a market capitalization of $285.39 billion, a price-to-earnings ratio of 36.94, a P/E/G ratio of 2.08 and a beta of 1.48. The firm’s fifty day moving average price is $834.43 and its two-hundred day moving average price is $916.12.

ASML (NASDAQ:ASML) last issued its quarterly earnings results on Wednesday, July 17th. The semiconductor company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. ASML had a net margin of 26.50% and a return on equity of 49.93%. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the previous year, the firm earned $5.37 EPS. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, analysts anticipate that ASML will post 20.38 earnings per share for the current fiscal year.

ASML Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, November 17th. Stockholders of record on Tuesday, October 29th will be issued a $1.407 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $5.63 annualized dividend and a dividend yield of 0.78%. ASML’s dividend payout ratio is currently 28.50%.

Institutional Investors Weigh In On ASML

Several institutional investors have recently bought and sold shares of ASML. Resources Management Corp CT ADV purchased a new position in shares of ASML in the second quarter valued at about $26,000. WD Rutherford LLC purchased a new position in ASML during the 1st quarter valued at $29,000. Triad Wealth Partners LLC purchased a new position in shares of ASML during the second quarter valued at about $31,000. First Community Trust NA bought a new position in ASML in the second quarter worth about $34,000. Finally, POM Investment Strategies LLC purchased a new stake in ASML in the second quarter worth about $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

ASML Company Profile

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.