ASML (NASDAQ:ASML) Stock Price Up 1.5% – Here’s Why

ASML Holding (NASDAQ:ASML) rose 1.5% during trading on Friday . The company traded as high as $723.25 and last traded at $721.48. Approximately 419,938 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,386,764 shares. The stock had previously closed at $710.81.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ASML shares. Susquehanna lowered their price objective on ASML from $1,300.00 to $1,100.00 and set a “positive” rating on the stock in a research note on Friday, October 11th. Wells Fargo & Company decreased their price target on shares of ASML from $1,000.00 to $790.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their target price on ASML from $1,207.00 to $1,148.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Barclays upgraded shares of ASML from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 30th. Finally, UBS Group cut ASML from a “buy” rating to a “neutral” rating in a report on Wednesday, September 4th. Three investment 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $970.60.

ASML Price Performance

The business has a 50-day simple moving average of $816.78 and a 200 day simple moving average of $906.89. The stock has a market cap of $280.83 billion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 2.08 and a beta of 1.48. 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. Shareholders of record on Tuesday, October 29th will be given a dividend of $1.407 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $5.63 dividend on an annualized basis and a yield of 0.79%. ASML’s dividend payout ratio (DPR) is currently 28.70%.

Hedge Funds Weigh In On ASML

Several institutional investors have recently added to or reduced their stakes in ASML. Kathmere Capital Management LLC bought a new position in shares of ASML in the 1st quarter worth $237,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of ASML in the first quarter valued at $308,000. Vicus Capital bought a new stake in ASML in the 1st quarter valued at about $328,000. Founders Financial Securities LLC lifted its stake in shares of ASML by 2.5% during the 1st quarter. Founders Financial Securities LLC now owns 1,123 shares of the semiconductor company’s stock valued at $1,090,000 after buying an additional 27 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of ASML by 16.1% in the first quarter. Diversified Trust Co now owns 950 shares of the semiconductor company’s stock worth $922,000 after acquiring an additional 132 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

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.