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ASE Technology Holding Co Ltd announced its earnings results for the quarter ending in June, revealing a decline in adjusted earnings and revenue compared to the same period last year. The company’s adjusted earnings per share (EPS) came in at 11 cents, down from 12 cents reported in the previous year. This matched the average expectation of two analysts for the quarter.
Revenue for the quarter fell 2.4% year-over-year to $4.35 billion, missing analysts’ forecast of $4.51 billion. ASE Technology Holding Co Ltd.’s reported EPS of 11 cents is in line with the earlier earnings estimates but reflects a decline from last year’s performance.
In the stock market, ASE Technology Holding Co Ltd shares have experienced a 7.2% decline this quarter, though they have seen a notable increase of 12.6% so far this year. Forecasts for the company have been adjusted downward, with the mean earnings estimate falling by approximately 12% over the past three months. However, there have been no revisions to earnings estimates by analysts in the last 30 days.
Despite the recent earnings miss, the average analyst rating for ASE Technology Holding Co Ltd remains positive. The consensus rating is “buy,” with a breakdown of recommendations including two “strong buy” or “buy” ratings, no “hold” ratings, and one “sell” or “strong sell” rating. The average consensus recommendation for the semiconductor equipment and testing peer group is also “buy.”
Wall Street’s median 12-month price target for ASE Technology Holding Co Ltd stands at $11.60, reflecting a cautiously optimistic outlook on the company’s future performance