ASE Technology (NYSE:ASX) Reaches New 52-Week High – Here’s What Happened

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) reached a new 52-week high on Monday . The company traded as high as $34.92 and last traded at $34.4770, with a volume of 1502656 shares trading hands. The stock had previously closed at $34.23.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ASX shares. Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Finally, Zacks Research raised ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, ASE Technology has a consensus rating of “Buy”.

ASE Technology Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15. The stock’s 50-day moving average is $25.58 and its 200 day moving average is $20.37. The firm has a market cap of $76.28 billion, a P/E ratio of 50.45, a PEG ratio of 0.71 and a beta of 1.68.

ASE Technology (NYSE:ASX) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating 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 business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, research analysts predict that ASE Technology Holding Co., Ltd. will post 1.05 earnings per share for the current year.

Institutional Trading of ASE Technology

A number of large investors have recently made changes to their positions in ASX. Parallel Advisors LLC raised its holdings in ASE Technology by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock valued at $418,000 after acquiring an additional 482 shares during the period. Commonwealth Equity Services LLC raised its holdings in ASE Technology by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 589 shares during the period. Vest Financial LLC raised its holdings in ASE Technology by 5.2% in the 4th quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock valued at $209,000 after acquiring an additional 637 shares during the period. PNC Financial Services Group Inc. raised its holdings in ASE Technology by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock valued at $1,942,000 after acquiring an additional 643 shares during the period. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of ASE Technology by 1.8% during the third quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 650 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.