ASE Technology (NYSE:ASX) Sets New 52-Week High – Time to Buy?
by Renee Jackson · The Cerbat GemShares of ASE Technology Holding Co., Ltd. (NYSE:ASX – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $29.89 and last traded at $29.5560, with a volume of 6916059 shares trading hands. The stock had previously closed at $29.28.
Analysts Set New Price Targets
ASX has been the topic of a number of recent research reports. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. Finally, Zacks Research raised shares of ASE Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on ASX
ASE Technology Stock Down 0.4%
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 firm has a market capitalization of $66.34 billion, a price-to-earnings ratio of 51.44, a PEG ratio of 1.24 and a beta of 1.46. The firm has a fifty day moving average price of $23.64 and a 200 day moving average price of $18.67.
ASE Technology (NYSE:ASX – Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $5.47 billion. As a group, sell-side analysts expect that ASE Technology Holding Co., Ltd. will post 0.77 EPS for the current fiscal year.
Institutional Trading of ASE Technology
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new position in ASE Technology during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its position in shares of ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 1,809 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of ASE Technology by 1,704.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 2,506 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of ASE Technology in the 4th quarter worth approximately $32,000. Finally, UMB Bank n.a. acquired a new stake in shares of ASE Technology in the 4th quarter worth approximately $32,000. 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.