ASML (NASDAQ:ASML) Posts Quarterly Earnings Results, Beats Expectations By $0.56 EPS

ASML (NASDAQ:ASML) posted its quarterly earnings data on Tuesday. The semiconductor company reported $5.80 EPS for the quarter, beating the consensus estimate of $5.24 by $0.56, reports. The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.66 billion. ASML had a net margin of 26.50% and a return on equity of 49.93%. ASML updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

ASML Price Performance

Shares of ASML opened at $683.52 on Thursday. The firm has a fifty day simple moving average of $840.70 and a two-hundred day simple moving average of $919.87. The firm has a market cap of $269.71 billion, a PE ratio of 34.91, a P/E/G 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 has a 1-year low of $573.86 and a 1-year high of $1,110.09.

Hedge Funds Weigh In On ASML

Institutional investors and hedge funds have recently modified their holdings of the company. Integrated Advisors Network LLC lifted its holdings in ASML by 16.7% in the fourth quarter. Integrated Advisors Network LLC now owns 753 shares of the semiconductor company’s stock valued at $570,000 after acquiring an additional 108 shares during the period. American International Group Inc. increased its position in shares of ASML by 3.2% during the 4th quarter. American International Group Inc. now owns 6,100 shares of the semiconductor company’s stock valued at $4,617,000 after purchasing an additional 192 shares during the last quarter. Wellington Management Group LLP increased its position in shares of ASML by 35.6% during the 4th quarter. Wellington Management Group LLP now owns 776,768 shares of the semiconductor company’s stock valued at $587,951,000 after purchasing an additional 203,860 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of ASML in the 4th quarter worth approximately $218,000. Finally, MONECO Advisors LLC purchased a new position in shares of ASML in the fourth quarter worth approximately $244,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ASML has been the topic of a number of research analyst reports. Susquehanna cut their price target on shares of ASML from $1,300.00 to $1,100.00 and set a “positive” rating on the stock in a report on Friday, October 11th. Berenberg Bank upgraded ASML to a “strong-buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley lowered shares of ASML from an “overweight” rating to an “equal weight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised their price target on ASML from $1,202.00 to $1,207.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, UBS Group downgraded shares of 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 assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,071.80.

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.