ASE Technology Holding Co. Ltd. (NYSE:ASX) finished Wednesday with an addition of $0.02 to close at $7.66, an upside of 0.31 percent. An average of 3,412,828 shares of common stock have been traded in the last five days. There was a gain of $0.06 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 4,718,567 shares traded, while the 50-day average volume stands at 5,344,725.
ASX stock has decreased by -2.12% in the last month. The company shares reached their 1-month lowest point of $7.49 on 08/08/23. With the stock rallying to its 52-week high on 06/13/23, shares of the company touched a low of $4.45 and a high of $9.03 in 52 weeks. It has reached a new high 28 times so far this year and achieved 22.23% or $1.41 in price. In spite of this, the price is down -15.13% from the 52-week high.
Valuation Metrics
ASE Technology Holding Co. Ltd. (ASX) has a trailing price-to-earnings (P/E) ratio of 11.16. The stock’s beta is 1.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.76, the price-to-book (PB) ratio at 1.92.
The company has a payout ratio of 61.98%. The company’s most recent quarterly dividend payment was $0.4672 a share, representing a down of -2.54% from $0.4794 last year. Its latest decrease dividend $0.0122 reported on Wednesday May 31 2023.
Financial Health
The quick ratio of ASE Technology Holding Co. Ltd. for the three months ended June 29 was 0.80, and the current ratio was 1.20, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.49 and a total debt to equity ratio of 0.66 for the quarter ending June 29. ASE Technology Holding Co. Ltd.’s EBITDA margin for the year ending June 29 is 20.22%, while its operating margin for the same period stands at 12.60%. Its gross profit as reported stood at $4.39 billion compared to revenue of $21.83 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ASE Technology Holding Co. Ltd.’s return on assets was 8.80%.
Earnings Surprise
For the three-month period that ended June 29, ASE Technology Holding Co. Ltd. had $24.36 million in cash and short-term investments compared to $245.67 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $2.0 billion in the quarter, while revenues were shrunk -8.34%. The analyst consensus anticipated ASE Technology Holding Co. Ltd.’s latest quarter earnings to come in at $0.09 per share, but it turned out to be $0.11, a 22.20% surprise. For the quarter, EBITDA amounted to $774.77 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at ASE Technology Holding Co. Ltd. (ASX) price momentum. RSI 9-day as of the close on 09 August was 43.64%, suggesting the stock is Neutral, with historical volatility in this time frame at 34.95%.
As of today, ASX’s price is $7.68 +0.79% or $0.06 from its 5-day moving average. ASX is currently trading -3.40% lower than its 20-day SMA and +2.95% higher than its 100-day SMA. However, the stock’s current price level is +0.13% above the SMA50 and +51.18% above the SMA200.
The stochastic %K and %D were 16.40% and 17.57%, respectively, and the average true range (ATR) was 0.22. With the 14-day stochastic at 20.63% and the average true range at 0.22, the RSI (14) stands at 44.64%. The stock has reached -0.10 on the 9-day MACD Oscillator while the 14-day reading was at -0.21.
Analyst Ratings
Goldman upgraded ASE Technology Holding Co. Ltd. (NYSE: ASX) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for ASE Technology Holding Co. Ltd. (ASX) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ASX, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 10 others rate it as a “buy”.
What is ASX’s price target for the next 12 months?
Analysts predict a range of price targets between $7.63 and $12.11, with a median target of $8.81. Taking a look at these predictions, the average price target given by analysts for ASE Technology Holding Co. Ltd. (ASX) stock is $9.10.
