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

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares hit a new 52-week high 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

A number of research analysts recently commented on ASX shares. Weiss Ratings downgraded shares of ASE Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Finally, Wall Street Zen lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ASE Technology has an average rating of “Buy”.

ASE Technology Price Performance

The company’s 50-day simple moving average is $38.70 and its 200 day simple moving average is $35.10. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $99.55 billion, a price-to-earnings ratio of 51.79 and a beta of 1.71.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, beating 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 business had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. Equities research analysts forecast that ASE Technology Holding Co., Ltd. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership acquired a new position in ASE Technology in the first quarter valued at approximately $10,436,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ASE Technology in the 1st quarter valued at approximately $8,932,000. BNP Paribas Financial Markets raised its stake in ASE Technology by 59.7% during the 4th quarter. BNP Paribas Financial Markets now owns 898,625 shares of the semiconductor company’s stock worth $14,468,000 after buying an additional 335,973 shares during the period. Nykredit A S acquired a new position in ASE Technology in the second quarter valued at about $14,247,000. Finally, Capital Wealth Planning LLC raised its holdings in ASE Technology by 111.9% during the 4th quarter. Capital Wealth Planning LLC now owns 577,950 shares of the semiconductor company’s stock worth $9,744,000 after buying an additional 305,192 shares during the period. 6.80% of the stock is 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.