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

ASML Holding (NASDAQ:ASML)’s share price traded down 3% on Wednesday . The company traded as low as $686.59 and last traded at $693.86. 1,103,938 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 1,388,913 shares. The stock had previously closed at $715.14.

Analysts Set New Price Targets

ASML has been the topic of a number of recent analyst reports. Barclays raised shares of ASML from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of 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. UBS Group downgraded ASML from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Berenberg Bank upgraded ASML to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein dropped their price target on ASML from $1,052.00 to $815.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $970.60.

ASML Price Performance

The stock has a market capitalization of $266.02 billion, a P/E ratio of 35.51, a PEG ratio of 1.98 and a beta of 1.48. The company has a 50 day moving average of $798.17 and a 200-day moving average of $899.57. The company has a quick ratio of 0.84, a current ratio of 1.55 and a debt-to-equity ratio of 0.29.

ASML Cuts Dividend

The firm also recently announced 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 of this dividend is Tuesday, October 29th. This represents a $5.63 annualized dividend and a dividend yield of 0.83%. ASML’s dividend payout ratio (DPR) is presently 29.21%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Resources Management Corp CT ADV bought a new stake in shares of ASML in the 2nd quarter valued at approximately $26,000. Triad Wealth Partners LLC acquired a new stake in ASML in the second quarter valued at approximately $31,000. First Community Trust NA acquired a new stake in shares of ASML in the 2nd quarter valued at $34,000. Milestone Investment Advisors LLC bought a new stake in shares of ASML in the 3rd quarter worth approximately $28,000. Finally, POM Investment Strategies LLC acquired a new stake in shares of ASML during the 2nd quarter worth approximately $36,000. Hedge funds and other 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.