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ASML Holding (ASML) Receives a Rating Update from a Top Analyst


In a report released today, Craig Ellis from B.Riley FBR maintained a Hold rating on ASML Holding (NASDAQ: ASML), with a price target of $170. The company’s shares opened today at $175.46, close to its 52-week low of $168.30.

Ellis said:

“ASML Holding (ASML) reports late 10/16 and hosts a CC on 10/17 at 9:00AM ET. We preview in- line 3Q18 versus but modest downside to €2.931B (+5.7%)/€1.64. The issue, in our view, is NAND’s downside pricing and capex risks in late 2018 and/or early 2019 and fears that DRAM risks are steadily rising. Logic and foundry seem OK, in our opinion, mitigating outlook downside severity. Late-September “big spender” updates from MU and INTC included slightly raised and in-line views and TSMC 2H sales seem to be tracking well. However, the concern is downward Samsung, Hynix, and/or Toshiba NAND capacity spend as tech transitions unfold. Lower 3D NAND litho intensity moderates, but does not preclude, risk. Next-gen EUV is in focus and, in our view, the three-year shipment view is likely retained.”

According to TipRanks.com, Ellis is a top 25 analyst with an average return of 26.2% and a 62.7% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Rudolph Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for ASML Holding with a $220 average price target.

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The company has a one-year high of $221.66 and a one-year low of $168.30. Currently, ASML Holding has an average volume of 897.1K.

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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, Netherlands.