Is ASE Technology Holding Co. Ltd. (ASX) Price Targeted To Increase?

SNOW Stock
SNOW Stock

As of Wednesday close, ASE Technology Holding Co. Ltd.’s (NYSE:ASX) stock was up $0.04, moving up 0.62 percent to $6.49. The average number of shares traded per day over the past five days has been 6,869,560 shares. 4 times new highs have been achieved over the past 5 days, with a $0.31 gain in that time frame. In the last twenty days, the average volume was 9,261,450, while in the previous 50 days, it was 9,929,776.

Since last month, ASX stock rose 24.57%. Shares of the company fell to $4.97 on 11/02/22, the lowest level in the past month. A 52-week high of $8.15 was reached on 01/05/22 after having rallying from a 52-week low of $4.45. Since the beginning of this year, ASX’s stock price has dropped by -16.90% or -$1.32, and marked a new high 3 times. However, the stock has declined by -20.37% since its 52-week high.

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Valuation Metrics

Right now, ASE Technology Holding Co. Ltd. (ASX) has a P/E ratio of about 5.70. The stock’s beta is 1.15. Besides these, the trailing price-to-sales (P/S) ratio of 0.63, the price-to-book (PB) ratio of 1.52, and the price-to-cash flow ratio of 4.48 may also be considered.

The latest dividend of $0.4794 per share was paid out, which is 58.9% more than last year’s $0.3017. On Tuesday June 7 2022, a $0.1777 dividend increase was announced.

Financial Health

In the three months ended September 29, ASE Technology Holding Co. Ltd.’s quick ratio stood at 0.80, while its current ratio was 1.20, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.46, and the total debt-to-equity ratio was 0.74. On the profitability front, the trailing twelve-month gross margin is 20.10% percent. In the year ended September 29, EBITDA margin amounted to 20.46%, whereas operating margins totaled 14.60%. Based on annual data, ASX earned $3.98 billion in gross profit and brought in $20.55 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 13.70%. Return on equity (ROE) for the past 12 months was 29.20%.

In ASE Technology Holding Co. Ltd.’s quarter-end financial report for September 29, it reported total debt of $125.97 million against cash and short-term investments of $19.55 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. ASX’s revenue rose 17.33% during the quarter, while net income inched up to $20.55 billion. While analysts expected ASE Technology Holding Co. Ltd. to report $0.24 quarterly earnings, the actual figure was $0.26 per share, beating the consensus estimate by 8.30%. During the quarter, the company generated $1.21 billion in EBITDA. The liabilities of ASE Technology Holding Co. Ltd. were 14.22 billion at the end of its most recent quarter ended September 29, and its total debt was $206.74 billion.

Technical Picture

This quick technical analysis looks at ASE Technology Holding Co. Ltd.’s (ASX) price momentum. With a historical volatility rate of 34.38%, the RSI 9-day stood at 72.99% on 23 November.

With respect to its five-day moving average, the current ASE Technology Holding Co. Ltd. price is up by +5.02% percent or $0.31. At present, ASX shares trade +25.05% above its 20-day simple moving average and +28.26% percent above its 100-day simple moving average. However, the stock is currently trading approximately +19.08% above its SMA50 and -10.24% below its SMA200.

Stochastic coefficient K was 94.46% and Stochastic coefficient D was 92.60%, while ATR was 0.20. Given the Stochastic reading of 96.21% for the 14-day period, the RSI (14) reading has been calculated as 69.51%. As of today, the MACD Oscillator reading stands at 0.09, while the 14-day reading stands at 0.33.

Analyst Ratings

ASE Technology Holding Co. Ltd. downgraded its rating on ASE Technology Holding Co. Ltd. (NYSE: ASX) to a Neutral in a note to investors on October 07, 2021. The analysts firm previously had a Buy rating on the stock.ASE Technology Holding Co. Ltd. (ASX) has been rated Overweight by analysts. According to 0 brokerage firms, ASX is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate ASE Technology Holding Co. Ltd. stock as buy, with 10 recommending it as overweight.

With a median target price of $8.81, the current consensus forecast for the stock is $7.63 – $12.11. Based on these forecasts, analysts predict ASE Technology Holding Co. Ltd. (ASX) will achieve an average price target of $9.10.


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