ASE Technology (NYSE:ASX) Reaches New 1-Year High – Still a Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.98 and last traded at $24.7070, with a volume of 1917080 shares traded. The stock had previously closed at $23.48.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Finally, Zacks Research lowered ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ASE Technology has an average rating of “Hold”.

ASE Technology Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $19.01 and its two-hundred day moving average price is $14.84. The firm has a market capitalization of $55.11 billion, a price-to-earnings ratio of 42.83, a P/E/G ratio of 0.99 and a beta of 1.48.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.09). The firm had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. 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

Several hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its holdings in ASE Technology by 16.9% during the first quarter. Jones Financial Companies Lllp now owns 13,425 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,943 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of ASE Technology by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock valued at $50,591,000 after acquiring an additional 780,651 shares during the last quarter. Freedom Investment Management Inc. raised its stake in shares of ASE Technology by 3.4% in the 2nd quarter. Freedom Investment Management Inc. now owns 40,219 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 1,312 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in ASE Technology by 60.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 648,743 shares of the semiconductor company’s stock worth $6,702,000 after purchasing an additional 244,611 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in 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 worth $25,183,000 after purchasing an additional 105,491 shares during the period. 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.