ASML (NASDAQ:ASML) Trading Down 6.6% – Here’s What Happened

Shares of ASML Holding N.V. (NASDAQ:ASML) dropped 6.6% during mid-day trading on Friday . The company traded as low as $1,638.38 and last traded at $1,641.74. Approximately 2,694,314 shares were traded during mid-day trading, an increase of 49% from the average daily volume of 1,808,246 shares. The stock had previously closed at $1,757.47.

Wall Street Analysts Forecast Growth

ASML has been the subject of a number of analyst reports. Sanford C. Bernstein reiterated a “buy” rating on shares of ASML in a research note on Monday, May 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ASML in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of ASML from $1,813.00 to $2,200.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna reissued a “positive” rating on shares of ASML in a report on Thursday, April 9th. Finally, UBS Group reissued a “buy” rating on shares of ASML in a report on Wednesday, May 20th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,589.63.

ASML Trading Down 6.6%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 1.36. The stock’s fifty day moving average is $1,490.67 and its 200 day moving average is $1,341.23. The stock has a market cap of $645.66 billion, a P/E ratio of 58.89, a P/E/G ratio of 1.35 and a beta of 1.82.

ASML (NASDAQ:ASML) last announced its quarterly earnings results on Monday, March 30th. The semiconductor company reported $8.28 EPS for the quarter. The firm had revenue of $10.15 billion during the quarter. ASML had a net margin of 27.65% and a return on equity of 48.69%. As a group, equities research analysts predict that ASML Holding N.V. will post 36.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASML

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in shares of ASML by 19.7% in the 1st quarter. Parallel Advisors LLC now owns 3,480 shares of the semiconductor company’s stock worth $4,597,000 after purchasing an additional 573 shares during the period. First Nebraska Trust Co purchased a new position in shares of ASML in the 1st quarter worth approximately $214,000. Cozad Asset Management Inc. boosted its holdings in shares of ASML by 40.9% in the 1st quarter. Cozad Asset Management Inc. now owns 10,757 shares of the semiconductor company’s stock worth $14,208,000 after purchasing an additional 3,122 shares during the period. Lavelle Capital LP purchased a new position in shares of ASML in the 1st quarter worth approximately $227,000. Finally, Blue Fin Capital Inc. boosted its holdings in shares of ASML by 22.3% in the 1st quarter. Blue Fin Capital Inc. now owns 538 shares of the semiconductor company’s stock worth $711,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About ASML

ASML Holding N.V. (NASDAQ: ASML) is a Dutch company that develops, manufactures and services advanced photolithography systems used to produce semiconductor chips. Headquartered in Veldhoven, Netherlands, ASML supplies capital equipment and associated software and services that enable semiconductor manufacturers to pattern the intricate circuits on silicon wafers. The company is widely recognized for its leadership in extreme ultraviolet (EUV) lithography as well as its deep ultraviolet (DUV) platforms used across multiple process nodes.

ASML’s product portfolio includes EUV and DUV lithography machines, light sources, imaging optics and control software, together with spare parts, upgrades and field services.