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

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price reached a new 52-week high on Friday . The stock traded as high as $25.33 and last traded at $25.1330, with a volume of 1001801 shares traded. The stock had previously closed at $24.51.

Analyst Upgrades and Downgrades

ASX has been the topic of several research reports. Zacks Research raised shares of ASE Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. One 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, the company presently has a consensus rating of “Hold”.

ASE Technology Stock Performance

The stock has a market cap of $55.06 billion, a PE ratio of 42.80, a P/E/G ratio of 1.03 and a beta of 1.46. 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 stock has a 50-day moving average of $22.35 and a 200 day moving average of $17.64.

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

Hedge Funds Weigh In On ASE Technology

A number of institutional investors have recently bought and sold shares of ASX. Nisa Investment Advisors LLC purchased a new position in ASE Technology during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised its stake in ASE Technology by 180,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 1,809 shares during the period. Smartleaf Asset Management LLC raised its position 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 valued at $30,000 after purchasing an additional 2,506 shares during the period. Eagle Bay Advisors LLC purchased a new stake in ASE Technology in the fourth quarter valued at $32,000. Finally, UMB Bank n.a. purchased a new stake in ASE Technology in the fourth quarter valued at $32,000. 6.80% of the stock is owned by hedge funds and other 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.