ASE Technology (NYSE:ASX) Hits New 12-Month High at $12.24

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $12.24 and last traded at $12.20, with a volume of 6683246 shares changing hands. The stock had previously closed at $11.96.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ASX. StockNews.com raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th. Morgan Stanley cut shares of ASE Technology from an “overweight” rating to an “equal weight” rating in a report on Tuesday, June 25th.

ASE Technology Stock Performance

The firm’s fifty day moving average price is $11.05 and its 200-day moving average price is $10.35. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 0.66 and a beta of 1.21.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $4.24 billion for the quarter. ASE Technology had a return on equity of 10.09% and a net margin of 5.41%. During the same period in the prior year, the company posted $0.09 EPS. Analysts expect that ASE Technology Holding Co., Ltd. will post 0.62 earnings per share for the current year.

ASE Technology Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, August 2nd. Investors of record on Tuesday, July 2nd will be paid a dividend of $0.3209 per share. This represents a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 2nd. ASE Technology’s dividend payout ratio is currently 50.00%.

Institutional Trading of ASE Technology

A number of large investors have recently bought and sold shares of ASX. Lazard Asset Management LLC lifted its stake in shares of ASE Technology by 2.8% in the 1st quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock worth $234,182,000 after acquiring an additional 584,333 shares during the period. Acadian Asset Management LLC lifted its stake in shares of ASE Technology by 89.7% in the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after acquiring an additional 4,664,258 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of ASE Technology by 35.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock worth $36,557,000 after acquiring an additional 1,009,795 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of ASE Technology by 8.8% in the 4th quarter. Rafferty Asset Management LLC now owns 3,884,522 shares of the semiconductor company’s stock worth $36,553,000 after acquiring an additional 313,300 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of ASE Technology by 3.3% in the 1st quarter. BNP Paribas Financial Markets now owns 1,575,343 shares of the semiconductor company’s stock worth $17,313,000 after acquiring an additional 50,930 shares during the period. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.