While much of the ASX has lagged in 2026, weighed down by several headwinds, three ASX shares hit fresh 52-week highs on Friday.
In the past 12 months, these ASX shares have shot higher:
- Weebit Nano Ltd (ASX: WBT) has risen 448%
- SRG Global Ltd (ASX: SRG) has climbed 150%
- Dicker Data Ltd (ASX: DDR) is up 58%
After hitting fresh yearly highs, here's what brokers are expecting moving forward for these red-hot ASX shares.
Weebit Nano outlook
Weebit Nano develops and licenses Resistive Random-Access Memory (ReRAM), an advanced semiconductor memory technology designed to outperform traditional Flash memory in speed, energy efficiency, and reliability.
Its rise over the past year has been driven by several key tailwinds:
- Major customer validation – Licensing deals with Tier-1 semiconductor giants signalled industry-wide acceptance of ReRAM as the next-generation memory standard
- Rapid revenue inflection – Revenue grew exponentially year on year, with guidance repeatedly upgraded, confirming the business model is converting technology into real commercial traction
- Ready to scale – Technology cleared industry manufacturing standards, and the company raised significant capital to fund the next phase of growth
While it could remain a speculative buy based on broker targets, its memory technology addresses a critical challenge in AI, IoT, automotive, and industrial applications, where increasing processing demands are exposing the limitations of conventional memory technologies.
This could give it plenty of runway for further gains despite already rising significantly in the last 12 months.
SRG can continue to climb
SRG is an engineering-led construction, maintenance, and mining services group built to solve complex problems across the entire asset lifecycle.
Its share price has soared in the last 12 months on the back of contract wins and earnings upgrades.
In good news for prospective investors, it is still generating broker interest despite its massive gain over the last year.
Morgans recently retained its buy recommendation on these ASX shares, along with an increased price target of $4.20.
From Friday's closing price of $3.97, this indicates a further 6% upside.
Bell Potter is also optimistic on the future for these ASX shares.
It recently upgraded its price target to $4.25.
Dicker Data looks fully valued
Dicker Data is a wholesale distributor of computer hardware, software, cloud, and related products.
It has been one of the ASX technology shares riding the data centre boom in the last year.
After hitting fresh 52-week highs last Friday, it appears these ASX shares may now be fully valued.
Morgan Stanley currently has an $11 price target on these ASX shares, which is well below Friday's closing price of $12.43.
The post These are three of the hottest ASX shares right now – can they keep rising? appeared first on The Motley Fool Australia.
Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Dicker Data. The Motley Fool Australia has recommended Srg Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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