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

ASE Technology Holding Co., Ltd. (NYSE:ASX) hit a new 52-week high during trading on Friday . The stock traded as high as $16.90 and last traded at $16.9050, with a volume of 470933 shares changing hands. The stock had previously closed at $16.10.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. Nomura Securities raised ASE Technology to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a research note on Saturday, December 27th. Finally, Nomura raised ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, ASE Technology currently has a consensus rating of “Buy”.

ASE Technology Stock Up 5.0%

The firm has a fifty day moving average price of $15.08 and a 200-day moving average price of $12.23. The firm has a market cap of $37.50 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 0.94 and a beta of 1.45. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.64.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, October 30th. The semiconductor company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. As a group, sell-side analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

Institutional Investors Weigh In On ASE Technology

Several hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC lifted its holdings in shares of ASE Technology by 35.0% during the first quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company’s stock valued at $96,110,000 after purchasing an additional 2,842,631 shares during the last quarter. Rafferty Asset Management LLC grew its position in ASE Technology by 50.9% during the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock worth $76,361,000 after purchasing an additional 2,491,918 shares during the period. Millennium Management LLC grew its position in shares of ASE Technology by 111.1% in the first quarter. Millennium Management LLC now owns 3,836,018 shares of the semiconductor company’s stock valued at $33,604,000 after purchasing an additional 2,018,815 shares during the period. Schroder Investment Management Group raised its stake in 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 worth $80,787,000 after purchasing an additional 2,012,970 shares during the period. Finally, Bank of America Corp DE boosted its holdings in ASE Technology by 18.8% in the second quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company’s stock valued at $91,061,000 after purchasing an additional 1,397,206 shares during the period. 6.80% of the stock is owned by institutional investors.

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.