ASE Technology (NYSE:ASX) Reaches New 52-Week High – Here’s Why

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price reached a new 52-week high during trading on Tuesday. The company traded as high as $45.57 and last traded at $45.5390, with a volume of 3464741 shares changing hands. The stock had previously closed at $43.79.

Analyst Ratings Changes

Several brokerages recently weighed in on ASX. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Wall Street Zen downgraded ASE Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, Weiss Ratings downgraded ASE Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy”.

ASE Technology Stock Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.07. The firm has a market cap of $101.11 billion, a P/E ratio of 52.52 and a beta of 1.71. The business’s 50-day simple moving average is $38.51 and its 200 day simple moving average is $34.77.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%.The firm had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. As a group, equities analysts predict that ASE Technology Holding Co., Ltd. will post 1.23 earnings per share for the current year.

Institutional Investors Weigh In On ASE Technology

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in ASE Technology by 7.5% during the first quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company’s stock valued at $43,654,000 after purchasing an additional 140,628 shares in the last quarter. Natixis Advisors LLC lifted its stake in ASE Technology by 1.7% in the 4th quarter. Natixis Advisors LLC now owns 2,543,138 shares of the semiconductor company’s stock worth $40,945,000 after purchasing an additional 42,623 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ASE Technology by 9.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,399,553 shares of the semiconductor company’s stock valued at $30,342,000 after buying an additional 125,324 shares during the last quarter. Sei Investments Co. boosted its position in shares of ASE Technology by 12.1% during the 1st quarter. Sei Investments Co. now owns 812,019 shares of the semiconductor company’s stock valued at $17,604,000 after acquiring an additional 87,689 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in ASE Technology by 59.7% during the fourth quarter. BNP Paribas Financial Markets now owns 898,625 shares of the semiconductor company’s stock valued at $14,468,000 after purchasing an additional 335,973 shares during the last quarter. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and testing (OSAT) services, helping chip manufacturers package and test integrated circuits before they are incorporated into electronic products.

Its services include wafer probing, wafer bumping, flip-chip and wire-bond packaging, system-in-package and other advanced packaging technologies, as well as final testing and related engineering services.