Goldman slashes price target on ASE Technology Holding Co. Ltd. [ASX] – find out why.

ASE Technology Holding Co. Ltd. [NYSE: ASX] gained 1.65% on the last trading session, reaching $6.76 price per share at the time. The company report on December 12, 2022 that ASE Technology Holding Achieves the Best Overall Performance on the Dow Jones Sustainability Indices, Semiconductors and Semi Equipment Industry Group.


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ASE Technology Holding Co., Ltd. (TAIEX: 3711, NYSE: ASX), the leading provider of semiconductor packaging, test and system assembly services, today announced that it has been included in the 2022 Dow Jones Sustainability Indices (DJSI) World and Emerging Markets. The DJSI are float-adjusted market capitalization weighted indices that measure the performance of companies selected using environmental, social and governance (ESG) criteria. ASE has also emerged as the only global enterprise to have successfully achieved the best overall performance on the DJSI – Semiconductors and Semiconductor Equipment Industry Group for seven consecutive years. In tandem with the DJSI accolade, ASE has also been on the CDP’s annual list for Climate Leadership for six years’ standing since 2016. The CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions.

ASE Technology Holding Co. Ltd. represents 2.17 billion in outstanding shares, while the company has a total market value of $14.06 billion with the latest information. ASX stock price has been found in the range of $6.58 to $6.76.

If compared to the average trading volume of 9.54M shares, ASX reached a trading volume of 6510061 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $6.22 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 0.19, with the Price to Sales ratio for ASX stock in the period of the last 12 months amounting to 0.65. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 0.87. Price to Free Cash Flow for ASX in the course of the last twelve months was 4.60 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for ASX stock

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 0.45. With this latest performance, ASX shares gained by 11.92% in over the last four-week period, additionally plugging by 3.68% over the last 6 months – not to mention a drop of -9.26% 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 66.64, with the RSI for the last a single of trading hit 66.71, and the three-weeks RSI is set at 64.92 for ASE Technology Holding Co. Ltd. [ASX]. The present Moving Average for the last 50 days of trading for this stock 5.72, while it was recorded at 6.69 for the last single week of trading, and 6.17 for the last 200 days.

ASE Technology Holding Co. Ltd. [ASX]: A deeper dive into fundamental analysis

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.

ASE Technology Holding Co. Ltd. [ASX]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at ASE Technology Holding Co. Ltd. [ASX]

Positions in ASE Technology Holding Co. Ltd. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 127 institutional holders increased their position in ASE Technology Holding Co. Ltd. [NYSE:ASX] by around 22,696,610 shares. Additionally, 92 investors decreased positions by around 8,209,505 shares, while 22 investors held positions by with 127,037,212 shares. The mentioned changes placed institutional holdings at 157,943,327 shares, according to the latest SEC report filing. ASX stock had 37 new institutional investments in for a total of 2,695,214 shares, while 23 institutional investors sold positions of 2,998,879 shares during the same period.

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