ASE Technology (NYSE:ASX) Reaches New 12-Month High – What’s Next?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $23.88 and last traded at $23.7960, with a volume of 8901063 shares changing hands. The stock had previously closed at $22.49.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ASE Technology has an average rating of “Hold”.

ASE Technology Price Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00. The stock has a market capitalization of $52.78 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 0.93 and a beta of 1.48. The stock’s 50 day simple moving average is $17.78 and its 200-day simple moving average is $14.05.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The business had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. On average, analysts expect that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its holdings in ASE Technology by 16.9% during the first quarter. Jones Financial Companies Lllp now owns 13,425 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 1,943 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in ASE Technology by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock valued at $50,591,000 after buying an additional 780,651 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in ASE Technology by 42.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 44,655 shares of the semiconductor company’s stock worth $461,000 after acquiring an additional 13,205 shares during the period. US Bancorp DE boosted its holdings in ASE Technology by 11.2% during the second quarter. US Bancorp DE now owns 182,419 shares of the semiconductor company’s stock valued at $1,884,000 after acquiring an additional 18,301 shares during the period. Finally, Callan Family Office LLC acquired a new stake in shares of ASE Technology in the second quarter valued at about $408,000. 6.80% of the stock is currently owned by institutional investors and hedge funds.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.