Drive Wealth Management LLC Sells 357 Shares of ASML Holding N.V. (NASDAQ:ASML)

Drive Wealth Management LLC lowered its stake in ASML Holding N.V. (NASDAQ:ASML) by 50.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 344 shares of the semiconductor company’s stock after selling 357 shares during the period. Drive Wealth Management LLC’s holdings in ASML were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ASML. Putney Financial Group LLC lifted its position in ASML by 322.2% in the first quarter. Putney Financial Group LLC now owns 38 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 29 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of ASML in the first quarter worth approximately $35,000. Pinnacle Bancorp Inc. purchased a new position in shares of ASML in the first quarter worth $42,000. Olde Wealth Management LLC bought a new stake in ASML during the 1st quarter valued at $42,000. Finally, Alpine Bank Wealth Management purchased a new stake in ASML during the 1st quarter valued at $43,000. Institutional investors own 26.07% of the company’s stock.

ASML Trading Down 1.9%

NASDAQ ASML opened at $711.25 on Friday. The firm has a market capitalization of $279.82 billion, a PE ratio of 29.68, a P/E/G ratio of 1.47 and a beta of 1.73. The stock’s 50 day moving average is $765.39 and its 200 day moving average is $727.39. ASML Holding N.V. has a twelve month low of $578.51 and a twelve month high of $945.05. The company has a quick ratio of 0.81, a current ratio of 1.43 and a debt-to-equity ratio of 0.21.

ASML (NASDAQ:ASML) last announced its earnings results on Wednesday, July 16th. The semiconductor company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $5.94 by ($1.39). The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.72 billion. ASML had a net margin of 26.95% and a return on equity of 49.47%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.01 EPS. Research analysts forecast that ASML Holding N.V. will post 25.17 earnings per share for the current fiscal year.

ASML Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Tuesday, July 29th will be issued a $1.856 dividend. This represents a $7.42 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, July 29th. This is a boost from ASML’s previous quarterly dividend of $1.64. ASML’s dividend payout ratio is 26.34%.

Analyst Ratings Changes

A number of research firms have issued reports on ASML. Erste Group Bank restated a “hold” rating on shares of ASML in a research report on Wednesday. Sanford C. Bernstein started coverage on ASML in a report on Tuesday, June 17th. They set a “market perform” rating and a $806.00 price target on the stock. Barclays reiterated an “equal weight” rating on shares of ASML in a report on Tuesday, June 3rd. DZ Bank lowered ASML from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their target price on ASML from $840.00 to $890.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $923.80.

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.