ASE Technology (NYSE:ASX) Reaches New 52-Week High – Should You Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $32.50 and last traded at $32.5820, with a volume of 182794 shares traded. The stock had previously closed at $31.59.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ASX. Zacks Research upgraded shares of ASE Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, ASE Technology has a consensus rating of “Hold”.

ASE Technology Stock Up 3.7%

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 firm’s 50-day moving average is $24.59 and its 200 day moving average is $19.61. The firm has a market capitalization of $74.40 billion, a PE ratio of 49.21, a price-to-earnings-growth ratio of 0.65 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, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. As a group, research analysts forecast that ASE Technology Holding Co., Ltd. will post 1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASX. Nisa Investment Advisors LLC purchased a new position in ASE Technology in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in ASE Technology by 180,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,809 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 2,506 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in ASE Technology in the 4th quarter valued at about $32,000. Finally, UMB Bank n.a. purchased a new position in ASE Technology in the 4th quarter valued at about $32,000. 6.80% of the stock is currently owned by hedge funds and other 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.