ASML (NASDAQ:ASML) Stock Price Down 4% – Here’s What Happened

Shares of ASML Holding N.V. (NASDAQ:ASML) dropped 4% during mid-day trading on Thursday . The company traded as low as $1,748.02 and last traded at $1,769.32. Approximately 2,662,418 shares traded hands during trading, an increase of 41% from the average session volume of 1,893,579 shares. The stock had previously closed at $1,843.04.

Wall Street Analysts Forecast Growth

ASML has been the subject of several research analyst reports. Zacks Research upgraded shares of ASML from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Berenberg Bank restated a “buy” rating on shares of ASML in a report on Friday, May 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ASML in a research report on Thursday, June 11th. Wells Fargo & Company increased their target price on shares of ASML from $1,750.00 to $2,200.00 and gave the company an “overweight” rating in a research note on Monday, June 22nd. Finally, Citigroup reissued a “buy” rating on shares of ASML in a research report on Thursday, April 16th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,772.62.

ASML Price Performance

The stock has a market cap of $695.84 billion, a price-to-earnings ratio of 63.46, a P/E/G ratio of 1.51 and a beta of 1.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $1,655.84 and its two-hundred day simple moving average is $1,442.96.

ASML (NASDAQ:ASML) last issued its earnings results on Monday, March 30th. The semiconductor company reported $8.28 earnings per share for the quarter. The business had revenue of $10.15 billion for the quarter. ASML had a net margin of 27.65% and a return on equity of 48.69%. On average, analysts forecast that ASML Holding N.V. will post 36.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASML

A number of hedge funds have recently modified their holdings of ASML. Cornerstone Financial Management LLC bought a new stake in ASML in the fourth quarter valued at $26,000. Portus Wealth Advisors LLC acquired a new stake in shares of ASML in the 1st quarter valued at $32,000. Resources Management Corp CT ADV boosted its stake in shares of ASML by 1,150.0% in the 4th quarter. Resources Management Corp CT ADV now owns 25 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. North Star Investment Management Corp. grew its holdings in shares of ASML by 68.8% in the 4th quarter. North Star Investment Management Corp. now owns 27 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 11 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of ASML during the 4th quarter worth about $30,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.