Summit Wealth Group LLC Co. Buys 1,733 Shares of ASML Holding N.V. $ASML

Summit Wealth Group LLC Co. increased its stake in ASML Holding N.V. (NASDAQ:ASML) by 341.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,240 shares of the semiconductor company’s stock after buying an additional 1,733 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in ASML were worth $4,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Common Asset Management LLC bought a new stake in ASML in the first quarter worth about $4,355,000. Puzo Michael J purchased a new position in shares of ASML during the second quarter valued at approximately $1,795,000. Envestnet Asset Management Inc. boosted its position in shares of ASML by 6.5% during the second quarter. Envestnet Asset Management Inc. now owns 440,721 shares of the semiconductor company’s stock valued at $876,783,000 after buying an additional 27,021 shares during the period. State Street Corp grew its stake in shares of ASML by 4.4% during the second quarter. State Street Corp now owns 85,872 shares of the semiconductor company’s stock valued at $170,851,000 after buying an additional 3,632 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of ASML by 12.5% during the second quarter. QRG Capital Management Inc. now owns 26,167 shares of the semiconductor company’s stock valued at $52,057,000 after buying an additional 2,913 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ASML. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ASML in a research note on Friday, July 10th. DZ Bank raised ASML from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Sanford C. Bernstein upped their price objective on ASML from $1,971.00 to $2,623.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. reduced their target price on ASML from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Finally, Citigroup reiterated a “buy” rating on shares of ASML in a research report on Thursday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, ASML presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,079.12.

ASML Price Performance

ASML stock opened at $1,526.14 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.49 and a quick ratio of 1.01. The stock has a market cap of $588.20 billion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 0.69 and a beta of 1.77. The firm has a 50-day moving average of $1,699.96 and a two-hundred day moving average of $1,597.10. ASML Holding N.V. has a 1 year low of $946.11 and a 1 year high of $1,999.96.

ASML (NASDAQ:ASML) last issued its earnings results on Sunday, September 27th. The semiconductor company reported $14.71 EPS for the quarter. The business had revenue of $13.27 billion for the quarter. ASML had a net margin of 34.10% and a return on equity of 64.24%. On average, research analysts forecast that ASML Holding N.V. will post 46.54 earnings per share for the current year.

ASML Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Tuesday, October 27th will be paid a $2.1077 dividend. This represents a $8.43 annualized dividend and a yield of 0.6%. This is a decrease from ASML’s previous quarterly dividend of $2.1507. The ex-dividend date of this dividend is Tuesday, October 27th. ASML’s payout ratio is currently 17.53%.

About ASML

ASML Holding N.V. is a Netherlands-based technology company that develops and manufactures advanced lithography systems used by semiconductor manufacturers to produce integrated circuits. Its equipment helps customers transfer intricate circuit patterns onto silicon wafers, a critical step in the production of processors, memory chips and other semiconductor devices.

ASML’s product portfolio includes extreme ultraviolet (EUV) lithography systems, which support the production of the most advanced chips, as well as deep ultraviolet (DUV) lithography systems for a broad range of semiconductor applications.