ASE Technology (NYSE:ASX) Hits New 52-Week High - Here's Why

Key Points

• ASE Technology's stock reached a new 52-week high of $11.96, closing at $11.95 with over 1.24 million shares traded.
• Analysts maintain a consensus rating of "Hold" for ASE Technology, with recent ratings from Weiss Ratings confirming this outlook.
• The semiconductor company reported $5.07 billion in quarterly revenue, falling short of expectations, with an EPS of $0.11 against a consensus estimate of $0.14.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.96 and last traded at $11.95, with a volume of 1249631 shares traded. The stock had previously closed at $11.32.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of ASE Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, ASE Technology currently has an average rating of "Hold".

ASE Technology Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.79 and a current ratio of 1.02. The firm's 50 day moving average is $10.73 and its 200-day moving average is $9.97. The stock has a market capitalization of $26.37 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 0.66 and a beta of 1.37.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $150.44 billion. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. Analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ASX. Farther Finance Advisors LLC lifted its position in shares of ASE Technology by 154.3% during the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 1,666 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of ASE Technology by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 1,795 shares during the period. TT International Asset Management LTD acquired a new stake in shares of ASE Technology during the first quarter worth $39,000. WealthCollab LLC lifted its holdings in shares of ASE Technology by 55.2% during the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 1,726 shares during the period. Finally, MAI Capital Management lifted its holdings in shares of ASE Technology by 2,409.6% during the second quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company's stock worth $51,000 after purchasing an additional 4,771 shares during the period. Institutional investors and hedge funds own 6.80% of the company's stock.

ASE Technology Company Profile

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.

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