ASE Technology Q3 Sales Jump Nearly 45% Y/Y
ASX has more than doubled off its 52-week low of $11.07.
Summary
ASE Technology reported Q3 sales up nearly 45% year-over-year, extending the strong growth trend seen in recent months. This follows August revenue up 46% YoY and July up 43.2% YoY, with the ATM segment consistently outperforming. The company raised its full-year ATM revenue growth target to 35% in July, and this Q3 figure suggests that target may be conservative. The stock is trading near its 52-week high, reflecting investor confidence in the semiconductor assembly and testing cycle.
At the time of this announcement, ASX was trading at $46.42 on NYSE in the Technology sector, with a market capitalization of approximately $102.5B. The 52-week trading range was $11.07 to $47.93. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.