ASE Technology (NYSE:ASX) Sets New 1-Year High – Here’s Why

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.83 and last traded at $19.8160, with a volume of 972574 shares. The stock had previously closed at $19.39.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Zacks Research lowered ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Wall Street Zen cut ASE Technology from a “buy” rating to a “hold” rating in a report on Sunday, January 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a report on Wednesday. Finally, Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

ASE Technology Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market capitalization of $44.02 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 0.79 and a beta of 1.45. The company has a 50-day moving average price of $16.21 and a 200-day moving average price of $13.16.

ASE Technology (NYSE:ASX) last released its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. ASE Technology had a net margin of 5.61% and a return on equity of 10.67%. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On ASE Technology

Several large investors have recently made changes to their positions in ASX. Rafferty Asset Management LLC grew its holdings in shares of 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 worth $76,361,000 after buying an additional 2,491,918 shares in the last quarter. Schroder Investment Management Group lifted its holdings in 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 purchasing an additional 2,012,970 shares during the last quarter. Millennium Management LLC lifted its stake in shares of ASE Technology by 130.8% during the 3rd quarter. Millennium Management LLC now owns 3,169,267 shares of the semiconductor company’s stock worth $35,147,000 after buying 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% during the second 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 during the period. Finally, Jump Financial LLC boosted its stake in ASE Technology by 897.5% in the 2nd quarter. Jump Financial LLC now owns 1,366,018 shares of the semiconductor company’s stock valued at $14,111,000 after purchasing an additional 1,229,068 shares during the period. Institutional investors 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.