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

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $27.73 and last traded at $27.2260, with a volume of 8389790 shares trading hands. The stock had previously closed at $26.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. Zacks Research upgraded ASE Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Finally, Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ASE Technology presently has a consensus rating of “Hold”.

ASE Technology Stock Performance

The business has a fifty day moving average of $23.11 and a 200 day moving average of $18.16. The company has a quick ratio of 1.00, a current ratio of 1.26 and a debt-to-equity ratio of 0.58. The company has a market cap of $63.39 billion, a P/E ratio of 49.27, a P/E/G ratio of 1.14 and a beta of 1.46.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a return on equity of 12.06% and a net margin of 6.31%. On average, equities analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

Institutional investors have recently added to or reduced their stakes in the company. Ninety One North America Inc. increased its holdings in shares of ASE Technology by 82.3% during the third 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. American Century Companies Inc. increased its holdings in shares of ASE Technology by 15.6% during the third quarter. American Century Companies Inc. now owns 3,674,784 shares of the semiconductor company’s stock valued at $40,753,000 after acquiring an additional 494,569 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of ASE Technology by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company’s stock valued at $32,814,000 after acquiring an additional 1,057,046 shares in the last quarter. Capula Management Ltd increased its holdings in shares of ASE Technology by 200.4% during the third quarter. Capula Management Ltd now owns 650,494 shares of the semiconductor company’s stock valued at $7,214,000 after acquiring an additional 433,965 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of ASE Technology by 38.4% during the third quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock valued at $80,787,000 after acquiring an additional 2,012,970 shares in the last quarter. Institutional investors own 6.80% of the company’s stock.

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.