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

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price hit a new 52-week high on Tuesday . The company traded as high as $38.80 and last traded at $38.68, with a volume of 1600192 shares traded. The stock had previously closed at $34.81.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

ASE Technology Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15. The firm’s 50 day simple moving average is $27.64 and its 200-day simple moving average is $21.58. The company has a market cap of $87.83 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 0.70 and a beta of 1.68.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%.The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.32 billion. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 1.05 EPS for the current year.

Institutional Trading of ASE Technology

Several institutional investors and hedge funds have recently bought and sold shares of ASX. Capula Management Ltd grew its position in ASE Technology by 200.4% in the 3rd 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. American Century Companies Inc. grew its position in ASE Technology by 15.6% in the 3rd 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. grew its position 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 worth $32,814,000 after buying an additional 1,057,046 shares in the last quarter. Schroder Investment Management Group grew its position 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 worth $80,787,000 after buying an additional 2,012,970 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of ASE Technology during the third quarter worth about $1,422,000. 6.80% of the stock is currently owned by hedge funds and other 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.