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ASE Technology Holding Co. Ltd. (NYSE: ASX): How It Has Performed & Trended

In today’s recent session, 0.73 million shares of the ASE Technology Holding Co. Ltd. (NYSE:ASX) have been traded, and its beta is 1.25. Most recently the company’s share price was $7.26, and it changed around -$0.09 or -1.22% from the last close, which brings the market valuation of the company to $15.45B. ASX at last check was trading at a discount to its 52-week high of $7.97, offering almost -9.78% off that amount. The share price’s 52-week low was $4.45, which indicates that the recent value has risen by an impressive 38.71% since then. We note from ASE Technology Holding Co. Ltd.’s average daily trading volume that its 10-day average is 4.01 million shares, with the 3-month average coming to 5.20 million.

ASE Technology Holding Co. Ltd. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 20 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 7 recommended ASX as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. ASE Technology Holding Co. Ltd. is expected to report earnings per share of $0.09 for the current quarter.

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ASE Technology Holding Co. Ltd. (NYSE:ASX) trade information

Instantly ASX has been showing red trend so far today with a performance of -1.22% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 7.48 on Tuesday, 05/23/23 increased the stock’s daily price by 2.94%. The company’s shares are currently up 15.79% year-to-date, but still up 0.41% over the last five days. On the other hand, ASE Technology Holding Co. Ltd. (NYSE:ASX) is 6.61% up in the 30-day period. We can see from the shorts that 5.23 million shares have been sold at a short interest cover period of 1.12 day(s).

The consensus price target as assigned by Wall Street analysts is $9.10, which translates to bulls needing to increase their stock price by 20.22% from its current value. Analyst projections state that ASX is forecast to be at a low of $7.63 and a high of $12.11. In order for the stock price to hit the forecast high, the stock would need to plunge -66.8% from its current level, while the stock would need to crash -5.1% from its current level to reach the projected low.

ASE Technology Holding Co. Ltd. (ASX) estimates and forecasts

ASE Technology Holding Co. Ltd. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 15.79 percent over the past six months and at a -31.91% annual growth rate that is well below the industry average of -8.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -64.00% in revenue this quarter, and will report a decrease of -19.20% in the next quarter. The year-over-year growth rate is expected to be -5.00%, down from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $4.5 billion in revenue for the current quarter. 2 analysts expect ASE Technology Holding Co. Ltd. to make $5.52 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $5.45 billion and $5.95 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -17.50%. Forecasts for the next quarter put sales growth at -7.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 21.20%. ASE Technology Holding Co. Ltd. earnings are expected to increase by -1.90% in 2023, but the outlook is negative -3.70% per year for the next five years.

ASX Dividends

ASE Technology Holding Co. Ltd.’s next quarterly earnings report is expected to be released in June. The annual dividend yield of the stock is 6.35 percent and its annual dividend per share was 0.47. It is important to note, however, that the 6.35% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

ASE Technology Holding Co. Ltd. (NYSE:ASX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.00% of ASE Technology Holding Co. Ltd. shares, and 7.62% of them are in the hands of institutional investors. The stock currently has a share float of 7.62%. ASE Technology Holding Co. Ltd. stock is held by 298 institutions, with Fisher Asset Management, LLC being the largest institutional investor. By Mar 30, 2023, it held 1.00% of the shares, which is about 21.89 million shares worth $158.78 million.

Lazard Asset Management LLC, with 0.98% or 21.33 million shares worth $154.72 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

iShares Semiconductor ETF and Direxion Shares ETF Tr-Direxion Daily Semiconductor Bull 3X Shares were the top two Mutual Funds as of Feb 27, 2023. The former held 5.53 million shares worth $40.15 million, making up 0.25% of all outstanding shares. On the other hand, Direxion Shares ETF Tr-Direxion Daily Semiconductor Bull 3X Shares held roughly 2.82 million shares worth around $20.49 million, which represents about 0.13% of the total shares outstanding.

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