ASE Technology (NYSE:ASX) Sets New 52-Week High Following Earnings Beat

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $21.01 and last traded at $21.0860, with a volume of 3225013 shares. The stock had previously closed at $20.26.

The semiconductor company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%.The firm had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.47 billion.

Analysts Set New Price Targets

ASX has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Nomura raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. Zacks Research downgraded shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen cut shares of ASE Technology from a “buy” rating to a “hold” rating in a research note 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 assigned a Sell rating to the stock. According to MarketBeat, ASE Technology presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On ASE Technology

Several large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new position in ASE Technology in the fourth quarter worth approximately $27,000. Farther Finance Advisors LLC increased its holdings in ASE Technology by 154.3% in the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 1,666 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in ASE Technology by 1,704.8% in the third quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 2,506 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in ASE Technology during the 4th quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of ASE Technology by 256.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company’s stock worth $40,000 after buying an additional 1,795 shares during the last quarter. 6.80% of the stock is currently owned by institutional investors and hedge funds.

ASE Technology Trading Up 2.9%

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.13 and a quick ratio of 0.88. The business’s 50 day moving average price is $17.20 and its 200-day moving average price is $13.70. The firm has a market capitalization of $46.25 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48.

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.