Wall Street Analyst Downgrade ASE Technology Holding Co. Ltd. [ASX]. What else is Wall St. saying

ASE Technology Holding Co. Ltd. [NYSE: ASX] traded at a low on 08/08/22, posting a -0.33 loss after which it closed the day’ session at $6.06. The company report on July 28, 2022 that ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Second Quarter of 2022.


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ASE Technology Holding Co., Ltd. (TAIEX: 3711, NYSE: ASX) (“We”, “ASEH”, or the “Company”), the leading provider of semiconductor assembly and testing services (ATM) and electronic manufacturing services (EMS), today reported its unaudited net revenues[1] of NT$160,439 million for 2Q22, up by 26% year-over-year (or up by 33% year-over-year on pro forma basis) and up by 11% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$15,988 million, up from a net income attributable to shareholders of the parent of NT$10,338 million in 2Q21 (or up from a net income attributable to shareholders of the parent of NT$9,539 million in 2Q21 on pro forma basis) and up from a net income attributable to shareholders of the parent of NT$12,907 million in 1Q22. Basic earnings per share for the quarter were NT$3.69 (or US$0.253 per ADS), compared to NT$2.40 for 2Q21 (or NT$2.21 for 2Q21 on pro forma basis) and NT$3.01 for 1Q22. Diluted earnings per share for the quarter were NT$3.61 (or US$0.247 per ADS), compared to NT$2.30 for 2Q21 (or NT$2.12 for 2Q21 on pro forma basis) and NT$2.92 for 1Q22.

We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China Sites in 4Q21. The unaudited pro forma financial information was based on our historical financial statements and historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding three months and six months ended 2Q21. For more details on our operations, please refer to “Supplemental Financial Information”, “Summary of Consolidated Statement of Income Data”, and “Summary of ATM Statement of Income Data.”.

The results of the trading session contributed to over 7048830 shares changing hands. Over the past one week, the price volatility of ASE Technology Holding Co. Ltd. stands at 2.33% while the volatility over the past one month is 2.32%.

The market cap for ASX stock reached $12.66 billion, with 2.09 billion shares outstanding and 2.00 billion shares in the current float. Compared to the average trading volume of 6.25M shares, ASX reached a trading volume of 7048830 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ASE Technology Holding Co. Ltd. [ASX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASX shares is $7.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASX stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for ASE Technology Holding Co. Ltd. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 07, 2021. The new note on the price target was released on June 25, 2021, representing the official price target for ASE Technology Holding Co. Ltd. stock.

The Average True Range (ATR) for ASE Technology Holding Co. Ltd. is set at 0.16, with the Price to Sales ratio for ASX stock in the period of the last 12 months amounting to 0.64. The Price to Book ratio for the last quarter was 0.06, with the Price to Cash per share for the same quarter was set at 1.26. Price to Free Cash Flow for ASX in the course of the last twelve months was 4.23 with Quick ratio for the last quarter at 0.80.

How has ASX stock performed recently?

ASE Technology Holding Co. Ltd. [ASX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.30. With this latest performance, ASX shares gained by 17.21% in over the last four-week period, additionally sinking by -13.80% over the last 6 months – not to mention a drop of -35.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASX stock in for the last two-week period is set at 58.80, with the RSI for the last a single of trading hit 66.56, and the three-weeks RSI is set at 53.72 for ASE Technology Holding Co. Ltd. [ASX]. The present Moving Average for the last 50 days of trading for this stock 6.07, while it was recorded at 5.97 for the last single week of trading, and 6.92 for the last 200 days.

ASE Technology Holding Co. Ltd. [ASX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ASE Technology Holding Co. Ltd. [ASX] shares currently have an operating margin of +11.03 and a Gross Margin at +18.58. ASE Technology Holding Co. Ltd.’s Net Margin is presently recorded at +11.21.

Return on Total Capital for ASX is now 13.63, given the latest momentum, and Return on Invested Capital for the company is 15.95. Return on Equity for this stock inclined to 26.70, with Return on Assets sitting at 10.18. When it comes to the capital structure of this company, ASE Technology Holding Co. Ltd. [ASX] has a Total Debt to Total Equity ratio set at 82.93. Additionally, ASX Total Debt to Total Capital is recorded at 45.33, with Total Debt to Total Assets ending up at 32.05. Long-Term Debt to Equity for the company is recorded at 63.87, with the Long-Term Debt to Total Capital now at 34.92.

Receivables Turnover for the company is 4.82 with a Total Asset Turnover recorded at a value of 0.91.ASE Technology Holding Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.20.

Earnings analysis for ASE Technology Holding Co. Ltd. [ASX]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ASX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ASE Technology Holding Co. Ltd. go to 34.20%.

Insider trade positions for ASE Technology Holding Co. Ltd. [ASX]

Positions in ASE Technology Holding Co. Ltd. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 122 institutional holders increased their position in ASE Technology Holding Co. Ltd. [NYSE:ASX] by around 12,885,665 shares. Additionally, 82 investors decreased positions by around 10,533,975 shares, while 38 investors held positions by with 120,769,743 shares. The mentioned changes placed institutional holdings at 144,189,383 shares, according to the latest SEC report filing. ASX stock had 32 new institutional investments in for a total of 2,049,806 shares, while 27 institutional investors sold positions of 2,540,444 shares during the same period.

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