ASE Technology Holding Co., Ltd.
- Open
- 36.81
- Day high
- 37.47
- Day low
- 36.24
- Prev close
- 37.08
- Volume
- 5.4M
- Mkt cap
- $83.7B
- P/E (TTM)
- 42.8
- EPS (TTM)
- $0.87
- P/B
- 6.8
- P/S
- 3.7
- Yield
- 1.11%
- Per share
- $0.42
- ▼Insiders net selling -$14.0M over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions accumulating (13F)
ASE Technology Holding Co., Ltd. (ASX) is a Technology company listed on NYSE. The stock is up 262% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4). Drillr has 1 published research article covering ASX.
ASE Technology Holding Co., Ltd. (ASX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ASX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.23 | $0.29 | +26.6% | $5.9B | -1.4% |
| Apr 29, 2026 | $0.17 | $0.20 | +18.3% | $5.5B | +3.7% |
| Feb 5, 2026 | $0.20 | $0.21 | +5.5% | $5.7B | +5.1% |
| Oct 30, 2025 | $0.14 | $0.16 | +15.9% | $5.6B | +3.5% |
| Jul 31, 2025 | $0.14 | $0.11 | -23.1% | $5.2B | +8.9% |
| Apr 30, 2025 | $0.11 | $0.10 | -6.5% | $4.5B | +2.2% |
| Feb 13, 2025 | $0.13 | $0.13 | +3.2% | $4.9B | -0.0% |
| Oct 31, 2024 | $0.13 | $0.13 | +1.6% | $5.0B | +2.7% |
| Jul 25, 2024 | $0.10 | $0.11 | +14.6% | $4.3B | +2.8% |
| Apr 25, 2024 | $0.10 | $0.08 | -19.2% | $4.1B | -0.4% |
| Feb 1, 2024 | $0.12 | $0.13 | +8.3% | $5.2B | +4.0% |
| Oct 26, 2023 | $0.13 | $0.13 | +0.0% | $4.8B | -3.6% |
ASX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 19, 2026 | Chung Chih-Hsiaoofficer: GM, ASE Japan & Wuxi Tongzhi | Option | 73,000 | $41.10 |
| Aug 19, 2026 | Chung Chih-Hsiaoofficer: GM, ASE Japan & Wuxi Tongzhi | Option | 292,000 | $41.10 |
| Jul 31, 2026 | Lin Chungofficer: GM, ASE Shanghai & Electronics | Option | 10,000 | $98.60 |
| Jul 31, 2026 | Lin Chungofficer: GM, ASE Shanghai & Electronics | Option | 25,000 | $41.10 |
| Jul 24, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 3,000 | $665.00 |
| Jul 17, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 3,000 | $688.00 |
| Jul 15, 2026 | Chang Hung Pendirector | Option | 1,500,000 | $98.60 |
| Jul 15, 2026 | Chang Hung Pendirector | Option | 3,000,000 | $41.10 |
| Jul 8, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 2,000 | $687.00 |
| Jul 2, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 2,000 | $687.00 |
| Jul 2, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 3,000 | $664.00 |
| Jun 23, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 5,000 | $667.00 |
| Jun 23, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 3,000 | $611.00 |
| Jun 3, 2026 | Uang Du-Tsuenofficer: Chief Administration Officer | Sell | 5,000 | $607.00 |
| May 27, 2026 | Chen Jeffreydirector | Sell | 2,000 | $653.00 |
Source: ASX SEC Form 4 filings, latest Aug 19, 2026. For informational purposes only — not investment advice.
See the full ASX insider & 13F page →ASE Technology Holding Co., Ltd. company profile
Overview
ASE Technology Holding Co., Ltd. (NYSE:ASX) is a Taiwanese semiconductor services company founded in 1984 and headquartered in Kaohsiung, Taiwan. The company went public in 2000 and has grown to become one of the world's largest providers of semiconductor assembly and test services (SATS). ASE serves as a critical link in the global semiconductor supply chain, providing the essential final steps that transform raw semiconductor wafers into finished chips ready for use in electronic devices. The company operates globally with facilities across Asia, the United States, and Europe, positioning itself as a key enabler of the modern electronics industry.
Business
ASE Technology operates in the semiconductor assembly and test services (SATS) industry, which represents the final stages of semiconductor manufacturing. The company provides two primary service categories that are essential to converting raw semiconductor wafers into functional electronic components. The Assembly, Test and Manufacturing (ATM) business segment represents approximately 60% of total revenues and focuses on semiconductor packaging and testing services. Semiconductor packaging involves encasing delicate silicon chips in protective housings that allow them to be mounted on circuit boards and connected to other components. This process includes advanced techniques like flip chip ball grid array (BGA), chip scale packages (CSP), and increasingly sophisticated leading-edge advanced packaging (LEAP) technologies. The testing component ensures that each semiconductor meets quality and performance specifications before shipment. ASE's advanced packaging capabilities are particularly important for high-performance applications like artificial intelligence processors, where multiple chips must be integrated into single packages. The Electronic Manufacturing Services (EMS) business segment accounts for approximately 40% of revenues and provides contract manufacturing services for complete electronic products and systems. This includes assembling components like computer peripherals, telecommunications equipment, automotive electronics, and motherboards. The EMS division essentially acts as an outsourced manufacturing partner for technology companies that prefer to focus on design and marketing rather than production. ASE also offers specialized services including system-in-package (SiP) solutions that integrate multiple components into single modules, real estate development and management, and various support services like warehousing and logistics. The company's geographic diversification spans manufacturing facilities in Taiwan, China, Malaysia, Philippines, Korea, Japan, and Mexico, providing customers with flexible supply chain options.
Revenue model
ASE Technology generates revenue primarily through contract manufacturing and testing services charged on a per-unit basis. Customers, which include major semiconductor companies, fabless chip designers, and electronics manufacturers, pay ASE for packaging their raw semiconductor wafers into finished chips and for testing these chips to ensure quality and functionality. The company also earns revenue from its EMS division by manufacturing complete electronic products and systems under contract. The business model benefits from several key factors that can increase margins. Advanced packaging services command premium pricing, particularly for AI and high-performance computing applications where ASE's leading-edge capabilities are essential. The company's scale advantages allow it to spread fixed costs across large volumes, while automation investments reduce labor costs over time. Geographic diversification helps optimize cost structures by leveraging different regional labor and operational cost profiles. However, several factors can pressure margins. The semiconductor industry is inherently cyclical, with demand fluctuations directly impacting capacity utilization and pricing power. Customer concentration risk exists, as major technology companies represent significant portions of revenue, giving them negotiating leverage. Capital intensity is high, requiring continuous investments in new equipment and facilities to stay technologically current. Labor cost inflation in key manufacturing regions like Taiwan and China can compress margins, while geopolitical tensions may force costly supply chain reconfigurations. Additionally, the commoditization of traditional packaging services creates pricing pressure, making the transition to higher-value advanced packaging services crucial for maintaining profitability. The company's financial performance is closely tied to global electronics demand cycles, with particular sensitivity to smartphone, automotive, and computing market trends. Currency fluctuations also impact results given the global nature of operations and customer base.
Competitive moat
ASE Technology's competitive moat is moderately strong but faces ongoing challenges from industry dynamics and technological shifts. The company's primary advantages stem from its massive scale, technological capabilities, and established customer relationships built over decades. The company's scale advantages create significant barriers to entry, as competitors need enormous capital investments to match ASE's global manufacturing footprint and capacity. This scale enables ASE to spread R&D costs across large volumes and offer customers the production capacity needed for major product launches. The company's technological leadership in advanced packaging provides differentiation, particularly in emerging areas like AI chip packaging where specialized expertise is required. Customer switching costs provide some protection, as semiconductor companies invest significant time and resources in qualifying suppliers and are reluctant to change partners once production processes are established. ASE's geographic diversification also offers value to customers seeking supply chain resilience and risk mitigation. However, the moat faces several threats. The semiconductor assembly and test industry is becoming increasingly competitive, with foundries like TSMC expanding into advanced packaging services that compete directly with ASE's highest-margin offerings. Chinese competitors are gaining technological capabilities and cost advantages, potentially eroding ASE's position in traditional packaging services. The industry's cyclical nature means that during downturns, pricing power diminishes significantly as competitors compete aggressively for limited demand. Additionally, some large semiconductor companies are developing in-house capabilities for advanced packaging, potentially reducing their reliance on external providers like ASE. The rapid pace of technological change requires continuous capital investment to maintain competitive positioning, and any misstep in technology transitions could weaken the company's market position.
Risks & safety
ASE Technology demonstrates moderate financial safety with manageable debt levels but tight working capital and significant capital requirements. **Liquidity and Solvency:** - Cash and short-term investments: $2.33 billion (Q1 2025) - Current ratio: 1.04 (tight but adequate) - Quick ratio: 0.82 (below ideal threshold) - Debt-to-equity ratio: 0.72 (moderate leverage) - Positive operating cash flow: $603 million (Q1 2025) **Valuation Metrics:** - Price-to-earnings ratio: 20.9 (reasonable for tech services) - EV/EBITDA: 13.0 (moderate valuation) - Price-to-book ratio: 2.0 (fair value territory) - Free cash flow: Negative $495 million (Q1 2025, concerning due to high capex) **Other Considerations:** - High capital intensity with $1.9 billion capex in 2024, expected to increase further - Cyclical industry exposure creates earnings volatility - Geographic concentration in Asia creates geopolitical risk - Customer concentration among major tech companies
Recent development
Over the past few years, ASE Technology has undergone a significant strategic transformation focused on advanced packaging technologies and artificial intelligence applications. The company has dramatically increased its investment in leading-edge advanced packaging (LEAP) services, growing revenues from $250 million in 2023 to over $600 million in 2024, with targets to reach $1.6 billion in 2025. The company has more than doubled its capital expenditure from previous levels, reaching $1.9 billion in 2024 with plans for further increases. Over 30% of this investment is allocated to testing capabilities, as ASE aggressively expands its market share in AI-related testing services. The company is establishing new advanced packaging facilities and investing heavily in automation and smart factory technologies to improve efficiency and reduce labor dependency. Geographic expansion has been another key focus, with ASE evaluating potential investments in the United States to serve customers seeking supply chain diversification due to geopolitical tensions. The company has also expanded its presence in Malaysia, Philippines, Korea, and Mexico while considering opportunities in Japan. Technology development efforts have concentrated on next-generation packaging solutions including 3D IC technologies, panel-level packaging, and various advanced interconnect solutions. ASE has established pilot lines for customer qualification in emerging technologies and is positioning itself for the anticipated AI-driven semiconductor super cycle expected in 2025-2026. The company has also focused on improving its testing business, targeting growth from the current 15-16% of ATM revenue to 19-20% by year-end 2025, with particular emphasis on wafer sort and final test capabilities for high-performance computing applications.
ASX company profile · for informational purposes only — not investment advice.
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