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

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ASE Technology Holding Co.Ltd ADR [NYSE: ASX] gained 1.22% or 0.09 points to close at $7.45 with a heavy trading volume of 4852986 shares. The company report on October 26, 2023 at 2:45 AM that ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Third Quarter of 2023.

ASE Technology Holding Co., Ltd. (TWSE: 3711, NYSE: ASX) (“We”, “ASEH”, or the “Company”), the leading provider of semiconductor assembly and testing services (“ATM”) and the provider of electronic manufacturing services (“EMS”), today reported its unaudited net revenues[1] of NT$154,167 million for 3Q23, down by 18% year-over-year and up by 13% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$8,776 million, down from NT$17,465 million in 3Q22 and up from NT$7,740 million in 2Q23.  Basic earnings per share for the quarter were NT$2.04 (or US$0.130 per ADS), compared to NT$4.03 for 3Q22 and NT$1.80 for 2Q23.  Diluted earnings per share for the quarter were NT$2.00 (or US$0.127 per ADS), compared to NT$3.92 for 3Q22 and NT$1.76 for 2Q23.

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It opened the trading session at $7.43, the shares rose to $7.45 and dropped to $7.34, the range by which the price of stock traded the whole day. The daily chart for ASX points out that the company has recorded 10.53% gains over the past six months. However, it is still -49.9% lower than its most recent low trading price.

If we look at the average trading volume of 4.95M shares, ASX reached to a volume of 4852986 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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Here is what top equities market gurus are saying about ASE Technology Holding Co.Ltd ADR [ASX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASX shares is $9.10 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 1.85. 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 ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 28, 2023.

The Average True Range (ATR) for ASE Technology Holding Co.Ltd ADR is set at 0.19, with the Price to Sales ratio for ASX stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 1.03. Price to Free Cash Flow for ASX in the course of the last twelve months was 8.10 with Quick ratio for the last quarter at 0.89.

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Trading performance analysis for ASX stock

ASE Technology Holding Co.Ltd ADR [ASX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.50. With this latest performance, ASX shares dropped by -0.93% in over the last four-week period, additionally plugging by 10.53% over the last 6 months – not to mention a rise of 40.30% 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 44.03, with the RSI for the last a single of trading hit 42.17, and the three-weeks RSI is set at 45.31 for ASE Technology Holding Co.Ltd ADR [ASX]. The present Moving Average for the last 50 days of trading for this stock 7.72, while it was recorded at 7.43 for the last single week of trading, and 7.63 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and ASE Technology Holding Co.Ltd ADR [ASX] shares currently have an operating margin of +12.12 and a Gross Margin at +19.52. ASE Technology Holding Co.Ltd ADR’s Net Margin is presently recorded at +9.26.

Return on Total Capital for ASX is now 16.25, given the latest momentum, and Return on Invested Capital for the company is 14.24. Return on Equity for this stock inclined to 22.12, with Return on Assets sitting at 9.00. When it comes to the capital structure of this company, ASE Technology Holding Co.Ltd ADR [ASX] has a Total Debt to Total Equity ratio set at 63.09. Additionally, ASX Total Debt to Total Capital is recorded at 38.68, with Total Debt to Total Assets ending up at 26.88. Long-Term Debt to Equity for the company is recorded at 47.97, with the Long-Term Debt to Total Capital now at 29.41.

Receivables Turnover for the company is 4.92 with a Total Asset Turnover recorded at a value of 0.97.ASE Technology Holding Co.Ltd ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 1.21.

ASE Technology Holding Co.Ltd ADR [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 ADR go to -3.70%.

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

The top three institutional holders of ASX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ASX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ASX stock with ownership which is approximately 5.7994%.

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