ASML (NASDAQ:ASML) Shares Down 3% – Here’s What Happened

Shares of ASML Holding (NASDAQ:ASML) dropped 3% during mid-day trading on Wednesday . The company traded as low as $686.59 and last traded at $693.86. Approximately 1,103,938 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 1,388,913 shares. The stock had previously closed at $715.14.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASML. Barclays upgraded shares of ASML from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna decreased their price target 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. Berenberg Bank upgraded ASML to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company reduced their target price 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. Finally, UBS Group lowered shares of ASML from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $970.60.

ASML Stock Performance

The firm has a market capitalization of $266.02 billion, a price-to-earnings ratio of 35.51, a P/E/G ratio of 1.98 and a beta of 1.48. The company has a quick ratio of 0.84, a current ratio of 1.55 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $798.17 and its two-hundred day moving average is $899.57.

ASML Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Tuesday, October 29th will be given a $1.407 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $5.63 dividend on an annualized basis and a dividend yield of 0.83%. ASML’s payout ratio is 29.21%.

Institutional Investors Weigh In On ASML

A number of large investors have recently added to or reduced their stakes in the business. Hilltop National Bank increased its holdings in shares of ASML by 1.0% in the second quarter. Hilltop National Bank now owns 975 shares of the semiconductor company’s stock valued at $997,000 after purchasing an additional 10 shares during the last quarter. Valley National Advisers Inc. raised its holdings in ASML by 1.1% in the 2nd quarter. Valley National Advisers Inc. now owns 1,134 shares of the semiconductor company’s stock valued at $1,159,000 after acquiring an additional 12 shares during the period. Pure Financial Advisors LLC lifted its holdings in shares of ASML by 2.8% during the second quarter. Pure Financial Advisors LLC now owns 444 shares of the semiconductor company’s stock worth $454,000 after buying an additional 12 shares in the last quarter. First Pacific Financial increased its position in shares of ASML by 1.1% in the second quarter. First Pacific Financial now owns 1,121 shares of the semiconductor company’s stock worth $1,146,000 after purchasing an additional 12 shares during the period. Finally, RMR Wealth Builders boosted its holdings in shares of ASML by 0.6% during the 2nd quarter. RMR Wealth Builders now owns 2,114 shares of the semiconductor company’s stock valued at $2,162,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

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.