As of Thursday close, ASE Technology Holding Co. Ltd.’s (NYSE:ASX) stock was up $0.02, moving up 0.27 percent to $7.31. The average number of shares traded per day over the past five days has been 4,324,100 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.32 fall in that time frame. In the last twenty days, the average volume was 4,484,445, while in the previous 50 days, it was 5,255,530.
Since last month, ASX stock retreated -7.12%. Shares of the company fell to $7.29 on 08/16/23, the lowest level in the past month. A 52-week high of $9.03 was reached on 06/13/23 after having rallying from a 52-week low of $4.45. Since the beginning of this year, ASX’s stock price has risen by 16.59% or $1.04, and marked a new high 28 times. However, the stock has declined by -19.05% since its 52-week high.
Valuation Metrics
Right now, ASE Technology Holding Co. Ltd. (ASX) has a P/E ratio of about 10.69. The stock’s beta is 1.25. Besides these, the trailing price-to-sales (P/S) ratio of 0.75, the price-to-book (PB) ratio of 1.79.
The latest dividend of $0.4672 per share was paid out, which is -2.54% less than last year’s $0.4794. On Wednesday May 31 2023, a $0.0122 dividend decrease was announced.
Financial Health
In the three months ended June 29, ASE Technology Holding Co. Ltd.’s quick ratio stood at 0.90, 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 June 29 was 0.47, and the total debt-to-equity ratio was 0.63. On the profitability front, the trailing twelve-month gross margin is 17.90% percent. In the year ended June 29, EBITDA margin amounted to 20.22%, whereas operating margins totaled 9.50%. Based on annual data, ASX earned $4.39 billion in gross profit and brought in $21.83 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 12.90%. Return on equity (ROE) for the past 12 months was 16.40%.
In ASE Technology Holding Co. Ltd.’s quarter-end financial report for June 29, it reported total debt of $245.67 million against cash and short-term investments of $24.36 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 5.88% during the quarter, while net income inched up to $21.83 billion. While analysts expected ASE Technology Holding Co. Ltd. to report $0.09 quarterly earnings, the actual figure was $0.11 per share, beating the consensus estimate by 22.20%. During the quarter, the company generated $774.77 million in EBITDA. The liabilities of ASE Technology Holding Co. Ltd. were 12.23 billion at the end of its most recent quarter ended June 29, and its total debt was $173.68 billion.
Technical Picture
This quick technical analysis looks at ASE Technology Holding Co. Ltd.’s (ASX) price momentum. With a historical volatility rate of 24.69%, the RSI 9-day stood at 34.03% on 17 August.
With respect to its five-day moving average, the current ASE Technology Holding Co. Ltd. price is down by -4.19% percent or -$0.32. At present, ASX shares trade -5.80% below its 20-day simple moving average and -4.57% percent below its 100-day simple moving average. However, the stock is currently trading approximately -13.18% below its SMA50 and +37.66% above its SMA200.
Stochastic coefficient K was 8.09% and Stochastic coefficient D was 10.95%, while ATR was 0.19. Given the Stochastic reading of 2.50% for the 14-day period, the RSI (14) reading has been calculated as 37.94%. As of today, the MACD Oscillator reading stands at -0.18, while the 14-day reading stands at -0.27.
Analyst Ratings
Goldman upgraded its rating on ASE Technology Holding Co. Ltd. (NYSE: ASX) to a Buy in a note to investors on July 28, 2023. The analysts firm previously had a Neutral 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.
