ASE Technology Holding Co. Ltd. [ASX] stock Downgrade by Goldman analyst, price target now $8.10

ASE Technology Holding Co. Ltd. [NYSE: ASX] plunged by -$0.24 during the normal trading session on Friday and reaching a high of $5.325 during the day while it closed the day at $5.20. The company report on October 4, 2022 that ASE announces Dr. William Chen is the 2022 recipient of IMAPS Daniel C. Hughes, Jr. Memorial Award.

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Advanced Semiconductor Engineering, Inc. (ASE), a member of ASE Technology Holding Co., Ltd. (NYSE: ASX, TAIEX: 3711), announced today that the International Microelectronics Assembly & Packaging Society (IMAPS) has decided to award the 2022 Daniel C. Hughes, Jr. Memorial Award to ASE Fellow, Dr. William (Bill) Chen, for his lifetime achievement within the industry. The award was presented at a ceremony at IMAPS 2022 in Boston, Massachusetts by IMAPS President, Dr. Beth Keser.

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ASE Technology Holding Co. Ltd. stock has also gained 4.21% of its value over the past 7 days. However, ASX stock has inclined by 2.97% in the 3 months of the year. Over the past six months meanwhile, it has lost -24.96% and lost -33.42% year-on date.

The market cap for ASX stock reached $11.44 billion, with 2.16 billion shares outstanding and 2.14 billion shares in the current float. Compared to the average trading volume of 7.10M shares, ASX reached a trading volume of 14190215 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 0.18, with the Price to Sales ratio for ASX stock in the period of the last 12 months amounting to 0.57. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 1.09. Price to Free Cash Flow for ASX in the course of the last twelve months was 4.02 with Quick ratio for the last quarter at 0.80.

ASX stock trade performance evaluation

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 4.21. With this latest performance, ASX shares dropped by -8.13% in over the last four-week period, additionally sinking by -24.96% over the last 6 months – not to mention a drop of -27.17% 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 42.14, with the RSI for the last a single of trading hit 42.42, and the three-weeks RSI is set at 42.43 for ASE Technology Holding Co. Ltd. [ASX]. The present Moving Average for the last 50 days of trading for this stock 5.70, while it was recorded at 5.32 for the last single week of trading, and 6.55 for the last 200 days.

ASE Technology Holding Co. Ltd. [ASX]: An insightful look at the core fundamentals

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 per share (EPS) analysis for ASE Technology Holding Co. Ltd. [ASX] stock

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%.

ASE Technology Holding Co. Ltd. [ASX]: Insider Ownership positions

92 institutional holders increased their position in ASE Technology Holding Co. Ltd. [NYSE:ASX] by around 18,159,509 shares. Additionally, 110 investors decreased positions by around 16,633,350 shares, while 34 investors held positions by with 109,632,276 shares. The mentioned changes placed institutional holdings at 144,425,135 shares, according to the latest SEC report filing. ASX stock had 24 new institutional investments in for a total of 1,364,580 shares, while 33 institutional investors sold positions of 880,875 shares during the same period.


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