ASML (NASDAQ:ASML) Upgraded to Buy at Zacks Investment Research

ASML (NASDAQ:ASML) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $957.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.78% from the stock’s current price.

According to Zacks, “ASML is a world leader in the manufacture of advanced technology systems for the semiconductor industry. The company offers an integrated portfolio for manufacturing complex integrated circuits. ASML designs, develops, integrates, markets and services advanced systems used by customers the major global semiconductor manufacturers to create chips that power a wide array of electronic, communications and information technology products. “

A number of other equities analysts have also issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of ASML in a research report on Thursday, July 22nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ASML in a research report on Tuesday, September 7th. UBS Group restated a “neutral” rating on shares of ASML in a research note on Wednesday, September 15th. Wells Fargo & Company raised their price objective on ASML from $800.00 to $975.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 8th. Finally, Barclays restated an “overweight” rating on shares of ASML in a research report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $795.50.

NASDAQ ASML opened at $879.78 on Wednesday. The stock has a market capitalization of $360.51 billion, a P/E ratio of 64.17, a PEG ratio of 1.60 and a beta of 1.05. ASML has a 12 month low of $351.09 and a 12 month high of $895.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.91 and a quick ratio of 1.33. The firm’s 50-day moving average is $804.83 and its two-hundred day moving average is $700.53.

ASML (NASDAQ:ASML) last issued its quarterly earnings results on Tuesday, July 20th. The semiconductor company reported $3.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.93 by $0.11. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.12 billion. ASML had a return on equity of 36.29% and a net margin of 28.82%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the company earned $1.79 earnings per share. As a group, analysts anticipate that ASML will post 16.04 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of ASML by 0.8% during the second quarter. Bank of America Corp DE now owns 1,449,061 shares of the semiconductor company’s stock worth $1,001,070,000 after purchasing an additional 11,780 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in ASML by 5.8% during the second quarter. Parametric Portfolio Associates LLC now owns 516,445 shares of the semiconductor company’s stock worth $356,781,000 after acquiring an additional 28,097 shares in the last quarter. GoalVest Advisory LLC lifted its holdings in ASML by 4.5% during the second quarter. GoalVest Advisory LLC now owns 1,860 shares of the semiconductor company’s stock worth $1,285,000 after acquiring an additional 80 shares in the last quarter. Veracity Capital LLC lifted its holdings in ASML by 28.9% during the second quarter. Veracity Capital LLC now owns 736 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 165 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in ASML by 4.0% during the second quarter. Lake Street Advisors Group LLC now owns 1,947 shares of the semiconductor company’s stock worth $1,521,000 after acquiring an additional 74 shares in the last quarter. 18.18% of the stock is owned by institutional investors and hedge funds.

ASML Company Profile

ASML Holding NV engages in the development, production, marketing, sale and servicing of advanced semiconductor equipment, consisting of lithography related systems. It mainly caters the makers of memory chips and logic chips. The company was founded on April 1, 1984 and is headquartered in Veldhoven, the Netherlands.

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