Wells Fargo & Company Trims ASML (NASDAQ:ASML) Target Price to $790.00

ASML (NASDAQ:ASML) had its price target cut by stock analysts at Wells Fargo & Company from $1,000.00 to $790.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 12.34% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of ASML from an “overweight” rating to an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on ASML from $1,207.00 to $1,148.00 and set an “overweight” rating for the company in a research report on Thursday. Berenberg Bank raised ASML to a “strong-buy” rating in a report on Wednesday, October 2nd. Barclays upgraded ASML from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 30th. Finally, Susquehanna lowered their price objective on shares of 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. Three 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,018.00.

ASML Stock Performance

Shares of NASDAQ:ASML traded up $19.68 during midday trading on Thursday, reaching $703.20. 5,067,626 shares of the company’s stock traded hands, compared to its average volume of 1,354,101. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.52. ASML has a one year low of $573.86 and a one year high of $1,110.09. The company has a market cap of $277.47 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.08 and a beta of 1.48. The stock has a 50 day moving average of $840.70 and a 200 day moving average of $919.87.

ASML (NASDAQ:ASML) last announced its quarterly earnings results on Wednesday, July 17th. The semiconductor company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6 billion. ASML had a net margin of 26.50% and a return on equity of 49.93%. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.37 earnings per share. As a group, equities research analysts anticipate that ASML will post 20.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV lifted its holdings in shares of ASML by 4,379.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 889,875 shares of the semiconductor company’s stock worth $910,102,000 after buying an additional 870,010 shares in the last quarter. Jennison Associates LLC increased its holdings in ASML by 50.0% in the 1st quarter. Jennison Associates LLC now owns 1,719,153 shares of the semiconductor company’s stock valued at $1,668,386,000 after acquiring an additional 572,996 shares during the last quarter. Fayez Sarofim & Co purchased a new stake in ASML in the 1st quarter worth $542,710,000. GQG Partners LLC boosted its holdings in shares of ASML by 21.6% during the 1st quarter. GQG Partners LLC now owns 1,657,878 shares of the semiconductor company’s stock valued at $1,608,921,000 after purchasing an additional 294,784 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of ASML by 11,084.1% during the 1st quarter. 1832 Asset Management L.P. now owns 246,050 shares of the semiconductor company’s stock valued at $238,784,000 after purchasing an additional 243,850 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.