ASE Technology (NYSE:ASX) Reaches New 1-Year High - Still a Buy?

Key Points

• ASE Technology hit a new 52-week high at $32.50 (last $32.58) on Monday with about 182,794 shares traded and the stock trading well above its 50‑day and 200‑day moving averages ($24.40 and $19.46).
• The company reported an earnings beat for the quarter — EPS $0.20 vs. $0.17 estimate and revenue $5.43B vs. $5.32B — with ROE of 13.48% and sell‑side forecasts around 1.05 EPS for the year.
• Analyst and institutional backdrop is mixed: MarketBeat shows an average rating of "Hold" (one Buy, two Holds) despite recent upgrades, while big investors like Goldman Sachs increased stakes; valuation is relatively high with a PE of 47.29 and market cap ~ $71.5B.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $32.50 and last traded at $32.5820, with a volume of 182794 shares trading hands. The stock had previously closed at $31.59.

Analysts Set New Price Targets

A number of research analysts recently commented on ASX shares. Zacks Research raised ASE Technology from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Weiss Ratings reissued a "hold (c)" rating on shares of ASE Technology in a report on Wednesday, January 21st. Finally, Wall Street Zen raised ASE Technology from a "hold" rating to a "buy" rating in a report on Sunday, April 5th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold".

ASE Technology Price Performance

The stock has a market cap of $71.48 billion, a PE ratio of 47.29, a P/E/G ratio of 0.63 and a beta of 1.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.89. The business has a fifty day moving average of $24.40 and a 200 day moving average of $19.46.

ASE Technology (NYSE:ASX - Get Free Report) last announced 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 return on equity of 13.48% and a net margin of 7.03%.The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.32 billion. Sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.05 earnings per share for the current year.

Institutional Trading of ASE Technology

Several institutional investors and hedge funds have recently bought and sold shares of ASX. Jones Financial Companies Lllp raised its stake in ASE Technology by 16.9% during the first quarter. Jones Financial Companies Lllp now owns 13,425 shares of the semiconductor company's stock valued at $118,000 after buying an additional 1,943 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in ASE Technology by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company's stock valued at $50,591,000 after buying an additional 780,651 shares in the last quarter. Geode Capital Management LLC raised its stake in ASE Technology by 16.3% during the second quarter. Geode Capital Management LLC now owns 13,576 shares of the semiconductor company's stock valued at $140,000 after buying an additional 1,901 shares in the last quarter. Legal & General Group Plc raised its stake in ASE Technology by 261.9% during the second quarter. Legal & General Group Plc now owns 15,647 shares of the semiconductor company's stock valued at $162,000 after buying an additional 11,324 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in 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 valued at $51,000 after buying an additional 4,155 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.