ASE Technology (NYSE:ASX) Sets New 12-Month High – What’s Next?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares reached a new 52-week high on Monday . The company traded as high as $43.34 and last traded at $42.3980, with a volume of 317647 shares trading hands. The stock had previously closed at $40.56.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ASX shares. Weiss Ratings restated a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. Zacks Research upgraded ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

ASE Technology Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.89. The firm has a market capitalization of $96.29 billion, a PE ratio of 63.19, a P/E/G ratio of 1.04 and a beta of 1.72. The company’s fifty day simple moving average is $33.72 and its 200 day simple moving average is $24.69.

ASE Technology (NYSE:ASX) last posted its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. As a group, equities research analysts expect that ASE Technology Holding Co., Ltd. will post 0.82 EPS for the current fiscal year.

ASE Technology Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, August 7th. Shareholders of record on Monday, July 6th will be issued a dividend of $0.4171 per share. This represents a yield of 111.0%. The ex-dividend date of this dividend is Monday, July 6th. This is a positive change from ASE Technology’s previous annual dividend of $0.36. ASE Technology’s payout ratio is presently 38.24%.

Hedge Funds Weigh In On ASE Technology

A number of large investors have recently made changes to their positions in ASX. Parallel Advisors LLC boosted its stake in ASE Technology by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock valued at $418,000 after purchasing an additional 482 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of ASE Technology by 5.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 589 shares during the last quarter. Vest Financial LLC raised its stake in shares of ASE Technology by 5.2% in the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 637 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of ASE Technology by 0.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock valued at $1,942,000 after purchasing an additional 643 shares in the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of ASE Technology by 24.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 3,435 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 683 shares in the last quarter. 6.80% of the stock is 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.