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 Monday . The stock traded as high as $43.34 and last traded at $42.3980, with a volume of 317647 shares traded. The stock had previously closed at $40.56.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ASX. Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. Finally, Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One 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. According to data from MarketBeat, the company has a consensus rating of “Buy”.

ASE Technology Trading Up 6.8%

The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $96.29 billion, a PE ratio of 63.19, a P/E/G ratio of 1.04 and a beta of 1.72. The stock has a 50 day moving average price of $33.72 and a 200-day moving average price of $24.69.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.32 billion. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%. Sell-side analysts expect that ASE Technology Holding Co., Ltd. will post 0.82 earnings per share for the current year.

ASE Technology Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, August 7th. Stockholders of record on Monday, July 6th will be paid a $0.4171 dividend. This is a boost from ASE Technology’s previous annual dividend of $0.36. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 111.0%. ASE Technology’s dividend payout ratio (DPR) is currently 38.24%.

Institutional Trading of ASE Technology

Several large investors have recently added to or reduced their stakes in ASX. Nisa Investment Advisors LLC bought a new position in ASE Technology in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 1,809 shares during the period. Bessemer Group Inc. increased its stake in shares of ASE Technology by 135.4% in the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 827 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of ASE Technology in the 4th quarter worth $32,000. Finally, UMB Bank n.a. bought a new position in ASE Technology in the 4th quarter worth $32,000. 6.80% of the stock is currently owned by institutional investors.

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.