ASE Technology Holding Co. Ltd. (NYSE:ASX) saw an upside of 2.76% to close Monday at $7.44 after adding $0.2 on the day. The 5-day average trading volume is 5,684,480 shares of the company’s common stock. It has gained $7.44 in the past week and touched a new high 4 times within the past 5 days. An average of 5,145,620 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,255,550.
ASX’s 1-month performance is 18.28% or $1.10 on its low of $6.16 reached on 12/28/22. The company’s shares have touched a 52-week low of $4.45 and high of $7.81, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, ASX has achieved 18.66% or $1.17 and has reached a new high 12 times. However, the current price is down -4.74% from the 52-week high price.
ASX stock has a beta of 1.23. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.68 while the price-to-book (PB) in the most recent quarter is 1.69, with the price to cash flow ratio at 4.86.
ASE Technology Holding Co. Ltd.’s quick ratio for the period ended September 29 was 0.80, with the current ratio over the same period at 1.20. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.46, while the total debt to equity was 0.74. In terms of profitability, the gross margin trailing 12 months is 20.10%. The firm’s gross profit as reported stood at $3.98 billion against revenue of $20.55 billion.
For the quarterly period ending September 29 this year, ASE Technology Holding Co. Ltd.’s cash and short-term investments amounted to $19.55 million against total debt of $206.74 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 55.7% to $2.17 billion, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected ASX to announce $0.24 per share in earnings in its latest quarter, but it posted $0.26, representing a 8.30% surprise. EBITDA for the quarter stood at more than $1.21 billion. ASX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 14.22 billion, with total debt at $206.74 billion.
Let’s look briefly at ASE Technology Holding Co. Ltd. (ASX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 80.61% to suggest the stock is trending Overbought, with historical volatility in this time period at 20.15%.
The stock’s 5-day moving average is $7.18, reflecting a +5.53% or $0.39 change from its current price. ASX is currently trading +14.29% above its 20-day SMA, +30.30% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +32.86% and SMA200 by+7.05%.
Stochastic %K and %D was 93.67% and 91.29% and the average true range (ATR) pointed at 0.17. The RSI (14) points at 74.84%, while the 14-day stochastic is at 100.00% with the period’s ATR at 0.17. The stock’s 9-day MACD Oscillator is pointing at 0.12 and 0.32 on the 14-day charts.
In the most recent analyst report for ASE Technology Holding Co. Ltd. (NYSE: ASX), Goldman downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for ASX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ASX as a “sell,”, while 7 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 10 have offered a “buy” rating.
What is ASX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $7.63 and a high of $12.11, with their median price target at $8.81. Looking at these predictions, the average price target given by analysts is for ASE Technology Holding Co. Ltd. (ASX) stock is $9.10.