ASE Technology (NYSE:ASX) Reaches New 52-Week High – What’s Next?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price hit a new 52-week high during trading on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

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

ASE Technology Stock Down 0.3%

The stock has a market cap of $51.89 billion, a P/E ratio of 40.34, a P/E/G ratio of 0.97 and a beta of 1.48. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $18.11 and a two-hundred day simple moving average of $14.21.

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

Institutional Trading of ASE Technology

Large investors have recently modified their holdings of the business. Parallel Advisors LLC raised its position in ASE Technology by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock valued at $418,000 after purchasing an additional 482 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of ASE Technology by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock valued at $181,000 after buying an additional 589 shares during the period. Vest Financial LLC raised its holdings in shares of ASE Technology by 5.2% during the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock valued at $209,000 after acquiring an additional 637 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of ASE Technology by 0.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock valued at $1,942,000 after acquiring an additional 643 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in ASE Technology by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock worth $408,000 after acquiring an additional 650 shares during the period. 6.80% of the stock is owned by institutional investors.

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.