ASE Technology (NYSE:ASX) Hits New 12-Month High - Still a Buy?

Key Points

• ASE Technology reached a new 52-week high, trading as high as $47.93, with a market capitalization of approximately $105.84 billion.
• Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating despite two firms downgrading it to “Hold” and Zacks Research upgrading it to “Strong Buy.”
• The company beat quarterly earnings expectations, reporting EPS of $0.29 versus the $0.23 consensus estimate; institutional investors own approximately 6.8% of its shares.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $47.93 and last traded at $46.6820, with a volume of 8073742 shares traded. The stock had previously closed at $47.45.

Analyst Upgrades and Downgrades

ASX has been the subject of several recent research reports. Wall Street Zen lowered ASE Technology from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Weiss Ratings lowered shares of ASE Technology from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 24th. Finally, Zacks Research raised shares of ASE Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, ASE Technology currently has an average rating of "Buy".

ASE Technology Stock Down 0.2%

The company has a market capitalization of $105.84 billion, a price-to-earnings ratio of 54.89 and a beta of 1.66. The business has a fifty day simple moving average of $39.02 and a two-hundred day simple moving average of $35.45. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.54.

ASE Technology (NYSE:ASX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%.The business had revenue of $81.66 million for the quarter, compared to analyst estimates of $5.96 billion. Equities analysts expect that ASE Technology Holding Co., Ltd. will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of ASE Technology by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company's stock worth $418,000 after purchasing an additional 482 shares during the last quarter. IFP Advisors Inc increased its position in ASE Technology by 107.7% during the 2nd quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 491 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of ASE Technology during the second quarter valued at about $33,000. Bessemer Group Inc. raised its stake in shares of ASE Technology by 135.4% during the first quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 827 shares during the last quarter. Finally, Foster Group Inc. grew its position in shares of ASE Technology by 7.9% in the 2nd quarter. Foster Group Inc. now owns 17,206 shares of the semiconductor company's stock valued at $776,000 after buying an additional 1,253 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company's stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and testing (OSAT) services, helping chip manufacturers package and test integrated circuits before they are incorporated into electronic products.

Its services include wafer probing, wafer bumping, flip-chip and wire-bond packaging, system-in-package and other advanced packaging technologies, as well as final testing and related engineering services.

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