ASML Holding $ASML Stock Dark Pool Buying Before Analysts Upgrades

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Dark pool trading occurred in ASML Holdings $ASML stock days before analysts upgraded the stock to a Buy rating.

Dark Pool Trading In ASML Holdings

A $39 million dark pool block order occurred in ASML Holdings $ASML stock on October 18, 2022. We think the dark pool trade was a buy order because $ASML stock rose following the trade being made public.

ASML Holdings stock chart on October 22, 2022, with dark pool trade shown in orange bar.

Make sure to review this lesson on dark pool trading so that you understand the chart above.

Applied Materials, ASML upgraded at New Street

On October 21, 2022, New Street analyst Pierre Ferragu upgraded $ASML stock to Outperform. Ferragu expects wafer fabrication equipment spending to bottom in the low $60B range, on a 12-month trailing basis, which means he expects only one more leg of revisions. Based on the last cycle in 2018-2019, this means now is a good time to build positions in the sector as multiples and stocks typically bottom a few months before the last leg of revisions in revenue expectations.

ASML upgraded to Buy on backlog at Deutsche Bank

On October 19, 2022, Deutsche Bank analyst Robert Sanders upgraded ASML to Buy from Hold with a EUR 550 price target. Sanders says that the stock’s 40% decline year-to-date has created a much heathier entry point. Sanders thinks that ASML can grow its revenue substantially in 2023 despite wafer fab equipment spending declining sharply as extreme ultraviolet and immersion is being ring-fenced at many customers. He thinks the company’s backlog is resilient enough to avoid a major impact from pushouts for the duration of the current downcycle. Sanders sees an attractive entry point at current share levels.

Why The World Relies On ASML For Machines That Print Chips

ASML Holdings $ASML Stock Technical Analysis

ASML Holdings $ASML stock is in a technical strong downtrend. Long-term indicators suggest a continuation of the downtrend. Our momentum indicator has turned neutral (gray) on October 21, 2022, suggesting the possibility of a trend reversal. The MACD and money flow just went positive in the stock during the week beginning October 17, 2022.

ASML Holdings stock chart on October 22, 2022, with a positive MACD and positive money flow.
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