ASE Technology (NYSE:ASX) Hits New 1-Year High – What’s Next?

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

Analyst Upgrades and Downgrades

ASX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. Zacks Research cut ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Wall Street Zen lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. Finally, Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

ASE Technology Price Performance

The company has a 50-day moving average of $16.44 and a 200-day moving average of $13.29. 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 $44.88 billion, a price-to-earnings ratio of 40.47, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, October 30th. The semiconductor company reported $0.16 EPS 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%. As a group, research analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASX. Nisa Investment Advisors LLC bought a new stake in shares of ASE Technology in the fourth quarter valued at about $27,000. Farther Finance Advisors LLC grew its holdings in shares of ASE Technology by 154.3% during the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock worth $28,000 after buying an additional 1,666 shares in the last quarter. Smartleaf Asset Management LLC raised its position in ASE Technology by 1,704.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 2,506 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in ASE Technology in the 4th quarter valued at approximately $32,000. Finally, WealthCollab LLC boosted its position in ASE Technology by 55.2% during the 2nd quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 1,726 shares during the last quarter. 6.80% of the stock is owned by institutional investors and hedge funds.

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.