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

ASE Technology Holding Co., Ltd. (NYSE:ASX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $44.64 and last traded at $44.8380, with a volume of 2290612 shares trading hands. The stock had previously closed at $42.13.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. Zacks Research raised ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

ASE Technology Stock Up 6.4%

The company has a market capitalization of $99.68 billion, a price-to-earnings ratio of 65.87 and a beta of 1.72. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $35.54 and a 200-day moving average price of $25.79.

ASE Technology (NYSE:ASX) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.84 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, August 7th. Shareholders of record on Monday, July 6th will be issued a dividend of $0.4171 per share. This is an increase from ASE Technology’s previous annual dividend of $0.36. The ex-dividend date is Monday, July 6th. This represents a yield of 111.0%. ASE Technology’s dividend payout ratio is 38.24%.

Institutional Investors Weigh In On ASE Technology

Several large investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its position in shares of ASE Technology by 16.9% in the first quarter. Jones Financial Companies Lllp now owns 13,425 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,943 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 purchasing an additional 780,651 shares in the last quarter. Geode Capital Management LLC grew its holdings in ASE Technology by 16.3% during the 2nd quarter. Geode Capital Management LLC now owns 13,576 shares of the semiconductor company’s stock worth $140,000 after acquiring an additional 1,901 shares during the last quarter. Legal & General Group Plc increased its holdings in ASE Technology by 261.9% in the second quarter. Legal & General Group Plc now owns 15,647 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 11,324 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of ASE Technology by 537.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 4,155 shares during the last quarter. Institutional investors own 6.80% of the company’s stock.

About ASE Technology

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.