ASE Technology (NYSE:ASX) Trading 6.5% Higher – Still a Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX) was up 6.5% during mid-day trading on Thursday . The stock traded as high as $19.95 and last traded at $20.2190. Approximately 6,557,153 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 7,922,279 shares. The stock had previously closed at $18.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ASX shares. Nomura upgraded ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. Zacks Research lowered shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut ASE Technology from a “buy” rating to a “hold” rating in a report on Sunday, January 4th. One equities 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 stock currently has a consensus rating of “Hold”.

ASE Technology Trading Up 6.4%

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 company has a market capitalization of $44.82 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 0.78 and a beta of 1.48. The business’s 50 day moving average price is $17.09 and its two-hundred day moving average price is $13.65.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, February 12th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.10. The firm had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. Equities analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ASX. Envestnet Asset Management Inc. raised its position in shares of ASE Technology by 4.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,437,846 shares of the semiconductor company’s stock valued at $25,183,000 after buying an additional 105,491 shares during the last quarter. American Century Companies Inc. increased its stake in ASE Technology by 20.9% during the second quarter. American Century Companies Inc. now owns 3,180,215 shares of the semiconductor company’s stock valued at $32,852,000 after acquiring an additional 549,025 shares during the period. Ninety One North America Inc. raised its holdings in ASE Technology by 82.3% in the 3rd quarter. Ninety One North America Inc. now owns 496,795 shares of the semiconductor company’s stock valued at $5,509,000 after acquiring an additional 224,267 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in ASE Technology by 3,929.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 18,094 shares of the semiconductor company’s stock valued at $187,000 after acquiring an additional 17,645 shares in the last quarter. Finally, Cullen Capital Management LLC lifted its position in shares of ASE Technology by 24.1% in the 2nd quarter. Cullen Capital Management LLC now owns 5,580,176 shares of the semiconductor company’s stock worth $57,643,000 after acquiring an additional 1,082,941 shares during the period. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Company Profile

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.