ASE August Sales Jump 46% as ATM Revenue Surges 53%
ASX has more than doubled off its 52-week low of $10.93.
Summary
ASE Technology reported August revenue up 46% year-over-year, with its ATM (assembly, testing, and materials) business growing 53%. This follows July's 43.2% total revenue growth and 49.5% ATM growth, indicating continued acceleration. The company had already raised its full-year ATM revenue growth target to 35% after Q2, and these monthly figures suggest it is tracking well above that. Strong demand in advanced packaging and testing is driving the outperformance. The next catalyst will be September revenue and Q3 earnings, where investors will look for confirmation that the growth rate is sustainable.
At the time of this announcement, ASX was trading at $40.60 on NYSE in the Technology sector, with a market capitalization of approximately $86.1B. The 52-week trading range was $10.93 to $45.52. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.