ASML (ASML) stock was up on Wednesday after the Dutch semiconductor services company announced an end to its Diversity, Equity, and Inclusion (DEI) targets in the U.S. According to the company, it has ditched these plans to comply with laws and regulations in the country.
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ASML decided to forgo its DEI targets in the U.S. after President Donald Trump signed an executive order against such policies. The President has called such efforts discriminatory and argued that they stifle merit. It’s not just Trump, as several court cases have also ruled against DEI initiatives. That means a change in president won’t necessarily result in a change of regulations or laws. Several other companies have also scaled back their DEI initiatives in the U.S. for the same reason as ASML.
While ASML is giving up on DEI in the U.S., the European company doesn’t intend to do so elsewhere. Without laws or regulations against DEI outside the U.S., ASML will continue to move forward with these plans. The company’s DEI targets largely relate to increasing the number of women in leadership roles and adding more female new hires.
ASML Stock Movement Today
Investors appear somewhat accepting of ASML’s plan to ditch DEI initiatives in the U.S. This saw shares of ASML stock jump 0.3% on Wednesday, extending the company’s year-to-date gain of 15.4%. However, traders will keep in mind that ASML shares have fallen 27.74% over the past 12 months.
Is ASML Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for ASML is Moderate Buy, based on two Buy and four Hold ratings over the past three months. With that comes an average ASML stock price target of $887, representing a potential 11.41% upside for the shares.
