ASE Technology (NYSE:ASX) Reaches New 1-Year High – Time to Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $23.88 and last traded at $23.7960, with a volume of 8901063 shares changing hands. The stock had previously closed at $22.49.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Zacks Research lowered shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Finally, Nomura raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ASE Technology currently has a consensus rating of “Hold”.

ASE Technology Stock Up 5.8%

The firm has a market capitalization of $52.78 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 0.93 and a beta of 1.48. The business has a 50 day moving average of $17.78 and a 200 day moving average of $14.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.09). ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. The business had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.47 billion. On average, equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

Institutional Trading of ASE Technology

Several institutional investors have recently bought and sold shares of the stock. Rafferty Asset Management LLC lifted its holdings in ASE Technology by 50.9% during the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after purchasing an additional 2,491,918 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of ASE Technology by 38.4% during the third quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock worth $80,787,000 after buying an additional 2,012,970 shares in the last quarter. Millennium Management LLC raised its stake in shares of ASE Technology by 130.8% in the third quarter. Millennium Management LLC now owns 3,169,267 shares of the semiconductor company’s stock valued at $35,147,000 after acquiring an additional 1,796,357 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of 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 acquiring an additional 1,397,206 shares in the last quarter. Finally, Jump Financial LLC grew its position in ASE Technology by 897.5% during the 2nd quarter. Jump Financial LLC now owns 1,366,018 shares of the semiconductor company’s stock worth $14,111,000 after acquiring an additional 1,229,068 shares during the last quarter. 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.