why ASE Technology Holding Co. Ltd. [ASX] is a Good Choice for Investors After New Price Target of $6.22

ASE Technology Holding Co. Ltd. [NYSE: ASX] gained 2.76% or 0.2 points to close at $7.44 with a heavy trading volume of 6711038 shares. The company report on January 13, 2023 that ASE’s Bumping Factory in Kaohsiung, Taiwan inducted into the World Economic Forum’s Global Lighthouse Network.

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A prestigious recognition of the company’s strategic adoption of Fourth Industrial Revolution technologies to successfully raise productivity and shorten customers’ time-to-market.

Advanced Semiconductor Engineering, Inc. (ASE, a member of ASE Technology Holding Co., Ltd. TAIEX: 3711, NYSE: ASX), announced today that its bumping factory in Kaohsiung has been inducted into the World Economic Forum’s Global Lighthouse Network (GLN), a community of manufacturing sites and value chains that are leaders in the adoption of Fourth Industrial Revolution (4IR) cutting edge technologies. ASE’s bumping factory in Kaohsiung is amongst the 18 GLN sites announced by the WEF on January 13th, joining the ranks of 132 leading manufacturers.

It opened the trading session at $7.26, the shares rose to $7.44 and dropped to $7.25, the range by which the price of stock traded the whole day. The daily chart for ASX points out that the company has recorded 31.45% gains over the past six months. However, it is still -67.19% lower than its most recent low trading price.

If we look at the average trading volume of 7.46M shares, ASX reached to a volume of 6711038 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 0.17, with the Price to Sales ratio for ASX stock in the period of the last 12 months amounting to 0.68. The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 0.90. Price to Free Cash Flow for ASX in the course of the last twelve months was 4.86 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 5.53. With this latest performance, ASX shares gained by 18.28% in over the last four-week period, additionally plugging by 31.45% over the last 6 months – not to mention a drop of -0.53% 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 74.85, with the RSI for the last a single of trading hit 80.61, and the three-weeks RSI is set at 70.56 for ASE Technology Holding Co. Ltd. [ASX]. The present Moving Average for the last 50 days of trading for this stock 6.55, while it was recorded at 7.18 for the last single week of trading, and 6.09 for the last 200 days.

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

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 -3.70%.

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 February and at the time of the February reporting period, where 126 institutional holders increased their position in ASE Technology Holding Co. Ltd. [NYSE:ASX] by around 21,149,370 shares. Additionally, 86 investors decreased positions by around 8,198,191 shares, while 25 investors held positions by with 128,567,183 shares. The mentioned changes placed institutional holdings at 157,914,744 shares, according to the latest SEC report filing. ASX stock had 37 new institutional investments in for a total of 2,522,227 shares, while 21 institutional investors sold positions of 3,022,511 shares during the same period.


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