ASE Technology Holding Co. Ltd. (NYSE:ASX) saw an upside of 2.19% to close Monday at $7.47 after adding $0.16 on the day. The 5-day average trading volume is 4,502,840 shares of the company’s common stock. It has gained $7.54 in the past week and touched a new high 1 time within the past 5 days. An average of 4,496,740 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,229,230.
ASX’s 1-month performance is -3.36% or -$0.26 on its low of $7.20 reached on 08/18/23. The company’s shares have touched a 52-week low of $4.45 and high of $9.03, with the stock’s rally to the 52-week high happening on 06/13/23. YTD, ASX has achieved 19.14% or $1.20 and has reached a new high 28 times. However, the current price is down -17.28% from the 52-week high price.
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Valuation Metrics
ASX stock has a beta of 1.25. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.77 while the price-to-book (PB) in the most recent quarter is 1.84.
ASE Technology Holding Co. Ltd.’s quick ratio for the period ended June 29 was 0.90, 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 June 29 was 0.47, while the total debt to equity was 0.63. In terms of profitability, the gross margin trailing 12 months is 17.90%. The trailing 12-month EBITDA margin is 20.22% while for the period ending June 29, ASE Technology Holding Co. Ltd.’s operating margin was 9.50%. The firm’s gross profit as reported stood at $4.39 billion against revenue of $21.83 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -8.34% to $2.0 billion, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected ASX to announce $0.09 per share in earnings in its latest quarter, but it posted $0.11, representing a 22.20% surprise. EBITDA for the quarter stood at more than $774.77 million. ASX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 12.23 billion, with total debt at $173.68 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 21 August was 43.92% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.12%.
The stock’s 5-day moving average is $7.37, reflecting a -1.84% or -$0.14 change from its current price. ASX is currently trading -3.36% above its 20-day SMA, -1.84% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -12.84% and SMA200 by+45.61%.
Stochastic %K and %D was 19.82% and 11.40% and the average true range (ATR) pointed at 0.18. The RSI (14) points at 43.46%, while the 14-day stochastic is at 43.55% with the period’s ATR at 0.20. The stock’s 9-day MACD Oscillator is pointing at -0.10 and -0.17 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for ASE Technology Holding Co. Ltd. (NYSE: ASX), Goldman upgraded it to a Buy rating. They previously had a Neutral 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.
