ASE Technology (NYSE:ASX) Reaches New 12-Month High – Should You Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $38.80 and last traded at $38.68, with a volume of 1600192 shares traded. The stock had previously closed at $34.81.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

ASE Technology Price Performance

The stock’s 50 day moving average is $28.34 and its two-hundred day moving average is $21.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.89. The stock has a market capitalization of $86.83 billion, a PE ratio of 57.43, a price-to-earnings-growth ratio of 0.78 and a beta of 1.68.

ASE Technology (NYSE:ASX) last released its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, sell-side analysts forecast that ASE Technology Holding Co., Ltd. will post 1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASE Technology

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in ASE Technology by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock valued at $418,000 after purchasing an additional 482 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in ASE Technology by 5.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 589 shares during the last quarter. Vest Financial LLC increased its stake in ASE Technology by 5.2% in the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 637 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in ASE Technology by 0.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock valued at $1,942,000 after purchasing an additional 643 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in ASE Technology by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock valued at $408,000 after purchasing an additional 650 shares during the last quarter. 6.80% of the stock is currently owned by hedge funds and other 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.