ASE Technology (NYSE:ASX) Reaches New 1-Year High - Here's What Happened

Key Points

• ASE Technology (NYSE:ASX) hit a new 52-week high, trading as high as $25.33 on Friday and last at $25.13 on volume of 1,001,801 shares (previous close $24.51).
• Analysts have been mixed: Wall Street Zen upgraded ASX to a Buy and Zacks moved it from strong sell to hold, but MarketBeat's consensus remains a Hold (one Buy, two Holds).
• ASE reported Q EPS of $0.21, beating estimates by $0.01 while revenue of $5.22B missed expectations; the stock has a $55.37B market cap, a P/E of 43.08, debt/equity of 0.58, and about 6.8% institutional ownership with several funds recently increasing positions.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $25.33 and last traded at $25.1330, with a volume of 1001801 shares changing hands. The stock had previously closed at $24.51.

Wall Street Analyst Weigh In

ASX has been the subject of a number of analyst reports. Wall Street Zen raised shares of ASE Technology from a "hold" rating to a "buy" rating in a research note on Sunday, April 5th. Zacks Research raised shares of ASE Technology from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of ASE Technology in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, ASE Technology currently has a consensus rating of "Hold".

ASE Technology Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.26. The business's 50 day simple moving average is $22.23 and its 200-day simple moving average is $17.51. The stock has a market capitalization of $55.37 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 1.00 and a beta of 1.46.

ASE Technology (NYSE:ASX - Get Free Report) last posted its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. ASE Technology had a net margin of 6.31% and a return on equity of 12.06%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.47 billion. Research analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

Institutional Trading of ASE Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ninety One North America Inc. raised its position in shares of ASE Technology by 82.3% during the 3rd quarter. Ninety One North America Inc. now owns 496,795 shares of the semiconductor company's stock worth $5,509,000 after buying an additional 224,267 shares in the last quarter. American Century Companies Inc. raised its position in shares of ASE Technology by 15.6% during the 3rd quarter. American Century Companies Inc. now owns 3,674,784 shares of the semiconductor company's stock worth $40,753,000 after buying an additional 494,569 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of ASE Technology by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company's stock worth $32,814,000 after buying an additional 1,057,046 shares in the last quarter. Cullen Capital Management LLC raised its holdings in shares of ASE Technology by 24.1% in the 2nd quarter. Cullen Capital Management LLC now owns 5,580,176 shares of the semiconductor company's stock worth $57,643,000 after purchasing an additional 1,082,941 shares in the last quarter. Finally, Capula Management Ltd raised its holdings in shares of ASE Technology by 200.4% in the 3rd quarter. Capula Management Ltd now owns 650,494 shares of the semiconductor company's stock worth $7,214,000 after purchasing an additional 433,965 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Company Profile

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.

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