Fred Alger Management LLC Purchases 5,517 Shares of ASML Holding (NASDAQ:ASML)

Fred Alger Management LLC lifted its position in shares of ASML Holding (NASDAQ:ASML) by 266.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,590 shares of the semiconductor company’s stock after acquiring an additional 5,517 shares during the period. Fred Alger Management LLC’s holdings in ASML were worth $7,763,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Lone Pine Capital LLC boosted its stake in ASML by 19.0% during the 2nd quarter. Lone Pine Capital LLC now owns 587,891 shares of the semiconductor company’s stock valued at $601,254,000 after purchasing an additional 93,851 shares during the last quarter. Insigneo Advisory Services LLC increased its holdings in ASML by 13.1% in the 2nd quarter. Insigneo Advisory Services LLC now owns 2,282 shares of the semiconductor company’s stock worth $2,334,000 after buying an additional 265 shares in the last quarter. Point72 DIFC Ltd raised its position in ASML by 122.1% in the 2nd quarter. Point72 DIFC Ltd now owns 6,415 shares of the semiconductor company’s stock worth $6,560,000 after buying an additional 3,527 shares during the last quarter. Resources Management Corp CT ADV bought a new position in ASML during the 2nd quarter valued at about $26,000. Finally, Interval Partners LP purchased a new stake in shares of ASML during the 2nd quarter valued at about $4,450,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

ASML Price Performance

NASDAQ ASML opened at $818.18 on Thursday. ASML Holding has a fifty-two week low of $563.99 and a fifty-two week high of $1,110.09. 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 market capitalization of $321.89 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 1.97 and a beta of 1.49. The business’s fifty day moving average is $860.62 and its 200 day moving average is $936.22.

ASML (NASDAQ:ASML) last released its earnings results on Wednesday, July 17th. The semiconductor company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. The company had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6 billion. ASML had a net margin of 26.50% and a return on equity of 49.93%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $5.37 EPS. Sell-side analysts predict that ASML Holding will post 20.38 earnings per share for the current year.

ASML Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Monday, July 29th were issued a $1.8732 dividend. The ex-dividend date was Monday, July 29th. This represents a $7.49 annualized dividend and a yield of 0.92%. This is an increase from ASML’s previous quarterly dividend of $1.34. ASML’s dividend payout ratio is currently 28.55%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley cut shares of ASML from an “overweight” rating to an “equal weight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. boosted their target price on shares of ASML from $1,172.00 to $1,202.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Wells Fargo & Company raised their price target on ASML from $1,150.00 to $1,185.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. UBS Group lowered ASML from a “buy” rating to a “neutral” rating in a report on Wednesday, September 4th. Finally, Susquehanna increased their target price on ASML from $1,200.00 to $1,300.00 and gave the company a “positive” rating in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ASML has an average rating of “Moderate Buy” and a consensus target price of $1,147.80.

ASML 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.