{
  "id": 14173509,
  "title": "BofA raises ASE Technology stock price target on strong results",
  "url": "https://urgent.news/2026/10/13/bofa-raises-ase-technology-stock-price-target-on-strong-results",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T10:10:47.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/bofa-raises-ase-technology-stock-price-target-on-strong-results-93CH-4946006"
  },
  "original_language": "en",
  "account": "BofA Securities upgraded its price target for ASE Technology Holding Co. (NYSE:ASX) to $58, up from $51, while keeping a Buy rating on the stock. This implies a potential 22% gain from the current price of $47.53, as shares have been nearing their 52-week high after surging 308% over the past year. The firm highlighted ASE's strong third-quarter 2026 performance, with sales rising 28% quarter-over-quarter and surpassing expectations. This growth was fueled by IC ATM revenue increasing 20% quarter-over-quarter, exceeding BofA's forecast of 13%, and EMS revenue climbing 42% quarter-over-quarter, surpassing the 40% projection. BofA attributes the IC ATM strength to modest packaging and testing price hikes due to supply constraints, along with a rise in LEAP business. EMS also enjoyed a boost from Apple product seasonal builds and higher component costs being passed on. The analysts anticipate IC ATM gross margins to improve by 300 basis points to 30% within the quarter, surpassing the company's high-20% guidance, thanks to better utilization of packaging and testing, higher average selling prices, and increased LEAP mix. Overall gross margins are projected to climb 180 basis points to 23%, although this could be partially offset by EMS expansion. Despite trading above its Fair Value, ASX remains a key player in the Semiconductors & Semiconductor Equipment sector. Investors can access 15 extra InvestingPro Tips and detailed Pro Research Reports on ASX and over 1,400 other US equities for actionable insights.",
  "summary": null,
  "key_points": [
    "BofA raises ASE stock target to $58 from $51",
    "ASE Q3 2026 sales up 28% quarter-over-quarter",
    "IC ATM revenue grew 20% quarter-over-quarter"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}