ASE Technology (NYSE:ASX) Sets New 12-Month High – Here’s Why

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $16.51 and last traded at $16.4630, with a volume of 6851195 shares changing hands. The stock had previously closed at $15.97.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ASX shares. Wall Street Zen lowered ASE Technology from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Nomura Securities raised shares of ASE Technology to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, October 8th. Finally, Nomura upgraded ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

ASE Technology Price Performance

The company has a 50 day moving average of $13.79 and a 200 day moving average of $11.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a market capitalization of $36.52 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 0.92 and a beta of 1.46.

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

Hedge Funds Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in ASE Technology by 1,704.8% in the third quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 2,506 shares during the last quarter. Farther Finance Advisors LLC raised its stake in ASE Technology by 154.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 1,666 shares in the last quarter. WealthCollab LLC lifted its position in ASE Technology by 55.2% in the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 1,726 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in ASE Technology by 537.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 4,155 shares in the last quarter. Finally, MAI Capital Management boosted its stake in ASE Technology by 2,409.6% in the second quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 4,771 shares in the last quarter. 6.80% of the stock is owned by institutional investors and hedge funds.

About ASE Technology

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.