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

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $19.83 and last traded at $19.8160, with a volume of 972574 shares changing hands. The stock had previously closed at $19.39.

Wall Street Analyst Weigh In

ASX has been the subject of several research reports. Wall Street Zen cut ASE Technology from a “buy” rating to a “hold” rating in a research report on Sunday, January 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday. Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

ASE Technology Price Performance

The stock has a market capitalization of $44.02 billion, a PE ratio of 39.69, a P/E/G ratio of 0.79 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. The stock’s 50-day moving average is $16.21 and its 200 day moving average is $13.16.

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

Institutional Investors Weigh In On ASE Technology

Several institutional investors have recently made changes to their positions in ASX. Nisa Investment Advisors LLC acquired a new stake in ASE Technology in the fourth quarter valued at approximately $27,000. Eagle Bay Advisors LLC acquired a new stake in shares of ASE Technology in the 4th quarter valued at $32,000. Smartleaf Asset Management LLC boosted its holdings in ASE Technology by 1,704.8% in the third quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 2,506 shares in the last quarter. Farther Finance Advisors LLC increased its position in ASE Technology by 154.3% during the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock worth $28,000 after buying an additional 1,666 shares during the last quarter. Finally, WealthCollab LLC raised its holdings in ASE Technology by 55.2% during the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,726 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors and hedge funds.

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.