Suncoast Equity Management Acquires New Shares in ASML Holding N.V. $ASML

Suncoast Equity Management bought a new stake in shares of ASML Holding N.V. (NASDAQ:ASML) during the 2nd quarter, HoldingsChannel reports. The firm bought 7,930 shares of the semiconductor company’s stock, valued at approximately $15,776,000. ASML accounts for about 2.0% of Suncoast Equity Management’s portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cornerstone Financial Management LLC purchased a new stake in shares of ASML during the fourth quarter valued at $26,000. Binnacle Investments Inc increased its holdings in ASML by 78.9% in the 2nd quarter. Binnacle Investments Inc now owns 34 shares of the semiconductor company’s stock worth $27,000 after buying an additional 15 shares in the last quarter. Resources Management Corp CT ADV raised its position in ASML by 1,150.0% in the 4th quarter. Resources Management Corp CT ADV now owns 25 shares of the semiconductor company’s stock worth $27,000 after buying an additional 23 shares during the last quarter. North Star Investment Management Corp. raised its position in 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 buying an additional 11 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new position in ASML during the 4th quarter valued at about $30,000. Institutional investors own 26.07% of the company’s stock.

ASML Trading Down 0.2%

ASML stock opened at $1,844.45 on Friday. The business has a 50-day simple moving average of $1,781.65 and a two-hundred day simple moving average of $1,567.15. The company has a market cap of $725.39 billion, a P/E ratio of 57.39, a P/E/G ratio of 0.92 and a beta of 1.79. ASML Holding N.V. has a 52-week low of $716.20 and a 52-week high of $1,999.96. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.09.

ASML (NASDAQ:ASML) last released its quarterly earnings results on Sunday, June 28th. The semiconductor company reported $8.65 EPS for the quarter. ASML had a net margin of 30.11% and a return on equity of 52.71%. The firm had revenue of $10.64 billion during the quarter. Analysts predict that ASML Holding N.V. will post 44.85 EPS for the current year.

ASML Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Tuesday, July 28th were given a dividend of $2.1507 per share. This represents a $8.60 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, July 28th. ASML’s payout ratio is 22.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASML. Wall Street Zen downgraded shares of ASML from a “buy” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ASML in a research report on Friday, July 10th. Weiss Ratings upgraded shares of ASML from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Argus set a $2,100.00 target price on shares of ASML in a research report on Thursday, July 16th. Finally, Berenberg Bank reiterated a “buy” rating on shares of ASML in a research note on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,970.33.

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.