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Sunday, September 20, 2020

The Unprecedented Rise of ASE Technology Holding Co. Ltd. (NYSE:ASX)

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The ASE Technology Holding Co. Ltd. (ASX) shares are trading at lower $4.68 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $4.83.

To add more color to this target, the company’s high over the last year is $5.70 and the low is $3.17. Over the last 52 weeks, ASX is down -17.89% while the S&P 500 is down -0.33%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ASX reported a profit of $536.38 million. ASE Technology Holding Co. Ltd. also saw revenues increase to $3.23 billion. In addition, ASX has free cash flow of -$5.21 million as of 03-2020. The company’s EBITDA came in at $622.5 million which compares well with its peers.

ASX booked profit margins of 4.40%, its Return on Equity (ROE) is 9.30%, and its Return on Assets is 3.40%. All told, it is clear that, ASX needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ASX has a short ratio of 0.60 and outstanding shares of 2.13B.

Company Outlook

ASX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.77 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.30. ASE Technology Holding Co. Ltd. ASX also noted assets of $18.98 billion at the end of the last quarter. Investors should also keep an eye on sector updates as ASX has historically followed its peers on positive news.

All told, ASE Technology Holding Co. Ltd. ASX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ASX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

ASE Technology Holding Co. Ltd. ASX is now commanding a market cap of 10.09B and a float of 1.62B. ASX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ASX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ASX, either long or short, and we have not been compensated for this article.

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