ASE Technology Holding Co., Ltd. (NYSE:ASX – Get Free Report) hit a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $21.01 and last traded at $21.0860, with a volume of 3225013 shares changing hands. The stock had previously closed at $20.26.
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 net margin of 5.61% and a return on equity of 10.67%. The company had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.47 billion.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on ASX shares. Wall Street Zen lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research report on Sunday, January 4th. Nomura upgraded ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Finally, Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.
Hedge Funds Weigh In On ASE Technology
A number of institutional investors and hedge funds have recently made changes to their positions in ASX. Rafferty Asset Management LLC increased its holdings in ASE Technology by 50.9% during the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after buying an additional 2,491,918 shares during the last quarter. Schroder Investment Management Group grew its position in shares of ASE Technology by 38.4% during the 3rd quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock valued at $80,787,000 after acquiring an additional 2,012,970 shares during the period. Millennium Management LLC increased its stake in shares of ASE Technology by 130.8% in the 3rd quarter. Millennium Management LLC now owns 3,169,267 shares of the semiconductor company’s stock worth $35,147,000 after purchasing an additional 1,796,357 shares in the last quarter. Bank of America Corp DE raised its holdings in ASE Technology by 18.8% in the 2nd quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company’s stock worth $91,061,000 after purchasing an additional 1,397,206 shares during the period. Finally, Jump Financial LLC lifted its position in shares of ASE Technology by 897.5% during the 2nd quarter. Jump Financial LLC now owns 1,366,018 shares of the semiconductor company’s stock valued at $14,111,000 after buying an additional 1,229,068 shares in the last quarter. Institutional investors own 6.80% of the company’s stock.
ASE Technology Trading Up 2.9%
The stock’s 50 day moving average price is $17.20 and its 200-day moving average price is $13.70. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $46.25 billion, a PE ratio of 41.69, a PEG ratio of 0.76 and a beta of 1.48.
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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