ASE Technology Holding Co. Ltd. (NYSE:ASX) does about 7.46M shares in volume on a normal day but saw 6711038 shares change hands in Monday trading. The company now has a market cap of 15.00B USD. Its current market price is $7.44, marking an increase of 2.76% compared to the previous close of $7.24. The 52 week high reached by this stock is $7.81 whilst the lowest price level in 52 weeks is $4.45. The script in recent trading has seen the stock touch a high of $7.44 and a low of $7.25.
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ASE Technology Holding Co. Ltd. (ASX) has a 20-day trading average at $6.72 and the current price is -4.74% off the 52-week high compared with 67.19% distance from its 52-week low. The 50-day simple moving average of the closing price is $6.55 and its 200-day simple moving average is $6.09. If we look at the stock’s price movements over the week, volatility stands at 2.00%, which increases to 2.16% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 74.85 to suggest the stock is overbought.
20 analysts observing the ASE Technology Holding Co. Ltd. (ASX) stock have set the 12-month price targets for the company’s shares at between $7.63 and $12.11. The consensus objective for the share price is $6.22, suggesting that the stock has a potential downside of -19.61% over the period. The median price target is 15.55% away from the current levels at $8.81.
FactSet Research has provided data showing that 20 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 3 advise that it is a overweight. 10 analysts have rated it as a buy and 7 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on October 07, 2021 when Goldman downgraded the stock to “Neutral” and issued a price target of between $13.30 and $8.10.
The current price level is 11.45%, 14.15%, and 22.22% away from its SMA20, SMA50, and SMA200 respectively, with the ASX price moving below the 50-day SMA on January 23. ASE Technology Holding Co. Ltd. (ASX) stock is up 5.53% over the week and 18.28% over the past month. Its price is 18.66% year-to-date and -0.53% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.26 above consensus estimates by $0.02. The company’s next earnings report is expected on 05/03/2023, with forecasts estimating quarterly EPS at $0.22 and $0.92 for whole year. ASX’s earnings per share are forecast to shrink by -10.70% this year and -6.50% over next year. Expected sales for next quarter are $4.9 billion, which analysts say will come at $22.02 billion for the current fiscal year and next year at $22.25 billion. In addition, estimates put the company’s current quarterly revenue at an average of $5.96 billion.
To reach the target analysts have set, the stock logically needs to shrink -19.61 percent from here.
Outstanding shares total 2.17B with insiders holding 0.00% of the shares and institutional holders owning 6.68% of the company’s common stock. The company has a return on investment of 13.70% and return on equity of 29.20%. The price to earnings ratio (P/E ratio) amounts to 6.36 while the forward price to earnings ratio is 9.30. The beta has a value of 1.23. Price to book ratio is 1.69 and price to sales ratio is 0.68.
According to a U.S. Securities and Exchange Commission filing, iShares Semiconductor ETF has reduced its position in ASE Technology Holding Co. Ltd. (ASX) to 5,471,586 shares, mirroring a recent drop by -0.30%. iShares Semiconductor ETF dumped 16333.0 shares of ASE Technology Holding Co. Ltd. common stock bringing its total worth to about $34.31 million at the end of recent close, SEC documents show.
