ASE Technology (NYSE:ASX) Sets New 52-Week High - Still a Buy?

Key Points

• ASE Technology hit a new 52‑week high, trading as high as $27.73 (last $27.226) on heavy volume and sits well above its 50‑day ($22.81) and 200‑day ($17.97) moving averages with a market cap of $60.39 billion.
• Analyst coverage is mixed—recent upgrades (Zacks to "Hold," Wall Street Zen to "Buy") contrast with a Weiss Ratings "Hold," and MarketBeat's consensus remains "Hold" (one Buy, two Holds).
• ASE slightly beat quarterly EPS ($0.21 vs. $0.20) but missed revenue ($5.22B vs. $5.47B), and trades at a relatively rich valuation (P/E ~46.94, PEG 1.11), indicating growth expectations are priced in.

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $27.73 and last traded at $27.2260, with a volume of 8389790 shares changing hands. The stock had previously closed at $26.87.

Wall Street Analyst Weigh In

ASX has been the subject of several analyst reports. Zacks Research raised shares of ASE Technology from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. Wall Street Zen raised ASE Technology from a "hold" rating to a "buy" rating in a research report on Sunday, April 5th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of ASE Technology in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

ASE Technology Stock Up 1.3%

The firm has a 50-day moving average of $22.81 and a two-hundred day moving average of $17.97. The firm has a market cap of $60.39 billion, a price-to-earnings ratio of 46.94, a PEG ratio of 1.11 and a beta of 1.46. The company has a current ratio of 1.26, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

ASE Technology (NYSE:ASX - Get Free Report) last announced its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. ASE Technology had a return on equity of 12.06% and a net margin of 6.31%.The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.47 billion. As a group, sell-side analysts predict 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

Several hedge funds have recently modified their holdings of ASX. Ninety One North America Inc. lifted its stake in shares of ASE Technology by 82.3% in the third quarter. Ninety One North America Inc. now owns 496,795 shares of the semiconductor company's stock valued at $5,509,000 after buying an additional 224,267 shares during the period. American Century Companies Inc. lifted its stake in shares of ASE Technology by 15.6% in the third quarter. American Century Companies Inc. now owns 3,674,784 shares of the semiconductor company's stock valued at $40,753,000 after buying an additional 494,569 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of ASE Technology by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company's stock valued at $32,814,000 after buying an additional 1,057,046 shares during the period. Capula Management Ltd lifted its position 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 acquiring an additional 433,965 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of ASE Technology by 38.4% in the 3rd quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company's stock worth $80,787,000 after acquiring an additional 2,012,970 shares during the period. 6.80% of the stock is 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.

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