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

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price reached a new 52-week high on Friday . The company 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.

Analyst Ratings Changes

Several brokerages have commented on ASX. Nomura upgraded ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen cut ASE Technology from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday. Finally, Nomura Securities raised shares of ASE Technology to a “strong-buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

ASE Technology Price Performance

The firm has a 50-day moving average of $15.16 and a 200-day moving average of $12.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market capitalization of $37.38 billion, a P/E ratio of 33.71, a PEG ratio of 0.69 and a beta of 1.45.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share 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, analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

Institutional Trading of ASE Technology

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in 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 period. Bank of America Corp DE raised its stake in ASE Technology by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company’s stock valued at $107,146,000 after buying an additional 846,300 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of 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 valued at $76,361,000 after buying an additional 2,491,918 shares during the period. Schroder Investment Management Group boosted its stake in shares of ASE Technology by 38.4% in the 3rd 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 during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of ASE Technology by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock worth $50,591,000 after buying an additional 780,651 shares during the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

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.