Dutch newspaper De Telegraaf reported on Wednesday that the Dutch government is scrambling to keep semiconductor company ASML (NASDAQ:ASML) in the Netherlands. According to the report, the Dutch government has launched a campaign called ‘Operation Beethoven’ to keep ASML in the country. ASML is the largest company in the Netherlands.
Earlier in January, ASML CEO Peter Wennink warned that the company is heavily dependent on skilled foreign labor, and anti-immigration policy changes could potentially impact innovation. The newly elected Dutch government is considering a move to end tax breaks for highly skilled immigrants and is looking at policies that would make it more difficult for foreigners to study at Dutch universities.
Currently, 40% of ASML’s workforce are immigrants. The report stated that ASML may consider France as a possible destination for expansion.
Is ASML a Strong Buy?
Analysts remain bullish about ASML, with a Strong Buy consensus rating based on six Buys. Over the past year, ASML stock has surged by 55%, and the average ASML price target of $936.80 implies a downside potential of 3.3% at current levels.
