ASML Rewards 45,000 Staff with Free Stock Worth €20,000 Each — and Analysts See More Upside
Veröffentlicht: 19.07.2026 um 02:53 Uhr, Redaktion boerse-global.de
ASML is awarding every one of its 45,000 employees a one-time stock grant valued at €20,000, locking the shares away until 2030 in a bid to retain scarce engineering talent. The roughly €900 million gesture arrives as the Dutch lithography giant posts quarterly numbers that beat its own guidance and triggers an unprecedented wave of analyst price-target upgrades — yet its stock still fell 2.51% on Friday to close at €1,528.
The second-quarter results, released earlier this week, show net sales of €9.33 billion and a diluted earnings per share of €7.59. Gross margin came in at 54%, comfortably inside the company’s target range. For the full year, management lifted its revenue forecast to between €43 billion and €45 billion, raising it for the second time in twelve months, and now expects gross margin of 54% to 56%.
The upgrade reflects what ASML describes as an “extremely strong” order book, particularly for its extreme ultraviolet (EUV) lithography systems. Demand from chipmakers building out artificial-intelligence capacity has pushed orders deep into 2027 and even 2028, giving the company unusually long visibility. To keep pace, ASML plans to boost its low-NA EUV production capacity by roughly 30% by 2027 and is studying further expansions for 2028.
The employee share grant, which will not vest until 1 January 2030, is designed to lock in workers amid fierce competition for engineers with EUV expertise. Shareholders are also being rewarded: an interim dividend of €1.88 per share goes ex-dividend on 28 July 2026 and will be paid on 5 August.
Should investors sell immediately? Or is it worth buying Asml?
Despite the bullish operational picture, the stock has pulled back 12.6% from its 52-week high of €1,748, set on 30 June. The decline tracks a broader sell-off in semiconductor stocks, where investors are growing nervous about the sheer scale of capital spending needed to sustain the AI buildout and about valuations that already look stretched. For ASML specifically, the share of revenue from China slipped in the second quarter, and ongoing US export restrictions remain a lingering risk — China is still expected to contribute about 20% of 2026 group sales.
The tension between strong fundamentals and market caution has done little to dampen analyst enthusiasm. Citi Research lifted its price target from €1,675 to €2,200, maintaining a buy rating. Berenberg went to €2,100 from €1,570, Morgan Stanley to €1,930, and Deutsche Bank to €2,150. Across the Atlantic, Argus and RBC Capital set $2,100 targets, JPMorgan went to $2,400, and Wells Fargo to $2,500. The most dramatic shift came from DZ Bank, which jumped from “Hold” straight to “Strong Buy.”
Citi’s upgrade was among the most aggressive, raising its revenue estimates for the coming years by 14% to 36% and earnings forecasts by 25% to 52%. The bank’s thesis rests on a multiyear AI investment cycle it sees as still early, with ASML’s high-NA EUV tools central to the next generation of logic and memory chips. The long lead times on recent orders, extending into 2028, provide unusual earnings visibility.
Asml at a turning point? This analysis reveals what investors need to know now.
Even so, the risks are hardly hidden. The current stock price already embeds a 66% year-to-date gain and a 137% advance over twelve months. The 14-day relative strength index stands at 47.5, suggesting neutral territory — neither overbought nor oversold. The gap between Friday’s close and the swarm of new price targets, many now above €2,000, may signal either a compelling entry point or a market that is already pricing in the uncertainties of geopolitics and execution. For now, the divergence between what analysts project and what investors are willing to pay remains the central question hanging over Europe’s most valuable technology company.
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Asml Stock: New Analysis - 19 July
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