ASE Technology (NYSE:ASX) Reaches New 12-Month High - Here's What Happened

Key Points

• ASE Technology Holding Co., Ltd. (NYSE:ASX) reached a new 52-week high, trading at $11.84 during mid-day on Wednesday, a significant increase from its previous close of $11.38.
• The stock has been rated as a "Moderate Buy" by analysts, with one buy and one hold rating, reflecting mixed but generally positive sentiment toward the company's performance.
• Recent institutional investments have increased, with firms like Greenleaf Trust and Rehmann Capital Advisory Group boosting their stakes by 8.8% and 9.6%, respectively, indicating growing confidence in ASE Technology's future.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.84 and last traded at $11.81, with a volume of 2518006 shares trading hands. The stock had previously closed at $11.38.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of ASE Technology in a report on Wednesday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

ASE Technology Stock Up 3.6%

The stock's fifty day moving average price is $10.56 and its 200 day moving average price is $9.89. The stock has a market cap of $26.02 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.37. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57.

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 analysts' consensus estimates of $0.14 by ($0.03). The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $150.44 billion. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. As a group, research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

A number of institutional investors have recently made changes to their positions in the business. Greenleaf Trust boosted its stake in shares of ASE Technology by 8.8% in the 2nd quarter. Greenleaf Trust now owns 11,801 shares of the semiconductor company's stock valued at $122,000 after purchasing an additional 952 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in ASE Technology by 9.6% during the 2nd quarter. Rehmann Capital Advisory Group now owns 11,128 shares of the semiconductor company's stock valued at $115,000 after buying an additional 973 shares during the period. Legacy Financial Advisors Inc. boosted its position in ASE Technology by 5.3% during the 1st quarter. Legacy Financial Advisors Inc. now owns 20,611 shares of the semiconductor company's stock valued at $181,000 after buying an additional 1,042 shares during the period. Choreo LLC boosted its position in ASE Technology by 10.7% during the 1st quarter. Choreo LLC now owns 11,520 shares of the semiconductor company's stock valued at $101,000 after buying an additional 1,113 shares during the period. Finally, HB Wealth Management LLC boosted its position in ASE Technology by 9.8% during the 2nd quarter. HB Wealth Management LLC now owns 14,494 shares of the semiconductor company's stock valued at $150,000 after buying an additional 1,291 shares during the period. Hedge funds and other institutional investors 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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