ASE Technology (NYSE:ASX) Sets New 1-Year High – Still a Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price reached a new 52-week high on Monday . The stock traded as high as $18.12 and last traded at $18.0150, with a volume of 589171 shares trading hands. The stock had previously closed at $17.64.

Analysts Set New Price Targets

Several research analysts recently issued reports on ASX shares. Nomura Securities raised shares of ASE Technology to a “strong-buy” rating in a research note on Thursday, October 30th. Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Wall Street Zen downgraded ASE Technology from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. Nomura raised ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

ASE Technology Stock Performance

The firm has a market cap of $40.22 billion, a P/E ratio of 36.29, a PEG ratio of 0.72 and a beta of 1.45. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average is $15.46 and its two-hundred day moving average is $12.55.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. As a group, equities analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

Institutional Trading of ASE Technology

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of ASE Technology by 9.6% in the third quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company’s stock valued at $107,146,000 after purchasing an additional 846,300 shares during the last quarter. Rafferty Asset Management LLC increased its stake in ASE Technology by 50.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after buying an additional 2,491,918 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of ASE Technology by 38.4% during the 3rd quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock worth $80,787,000 after buying an additional 2,012,970 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of ASE Technology by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock worth $50,591,000 after buying an additional 780,651 shares in the last quarter. Finally, Cullen Capital Management LLC boosted its stake in shares of ASE Technology by 0.7% in the 3rd quarter. Cullen Capital Management LLC now owns 5,618,822 shares of the semiconductor company’s stock worth $62,313,000 after buying an additional 38,646 shares during the last quarter. Institutional investors own 6.80% of the company’s stock.

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.