ASML (NASDAQ:ASML) Shares Down 3% - Here's What Happened

ASML Holding (NASDAQ:ASML - Get Free Report) shares traded down 3% during mid-day trading on Wednesday . The stock traded as low as $686.59 and last traded at $693.86. 1,103,938 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 1,388,913 shares. The stock had previously closed at $715.14.

Wall Street Analyst Weigh In

Several brokerages recently commented on ASML. Wells Fargo & Company reduced their price target on shares of ASML from $1,000.00 to $790.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. Barclays raised shares of ASML from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of ASML from $1,207.00 to $1,148.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. Berenberg Bank raised ASML to a "strong-buy" rating in a report on Wednesday, October 2nd. Finally, UBS Group cut shares of ASML from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, ASML presently has a consensus rating of "Moderate Buy" and an average target price of $970.60.

ASML Price Performance

The company has a market capitalization of $270.80 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.08 and a beta of 1.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.52. The company has a 50-day moving average price of $808.07 and a 200-day moving average price of $902.68.

ASML Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Tuesday, October 29th will be paid a dividend of $1.407 per share. The ex-dividend date is Tuesday, October 29th. This represents a $5.63 dividend on an annualized basis and a yield of 0.82%. ASML's payout ratio is 29.42%.

Hedge Funds Weigh In On ASML

A number of large investors have recently bought and sold shares of the company. Resources Management Corp CT ADV bought a new stake in ASML during the second quarter worth about $26,000. Triad Wealth Partners LLC bought a new position in shares of ASML in the second quarter valued at $31,000. First Community Trust NA acquired a new position in ASML during the second quarter worth $34,000. POM Investment Strategies LLC acquired a new stake in ASML in the 2nd quarter valued at about $36,000. Finally, LRI Investments LLC acquired a new position in shares of ASML during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 26.07% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.