Anthony Gordon became the Magpies’ first signing of the window after he made the switch from Goodison Park for a £40million fee plus add-ons.
Gordon had been tracked by Newcastle for a while and will give Eddie Howe another quality option to pick for his starting side.
Ashby, meanwhile, will likely have to bide his time before being a regular first-team player with Kieran Trippier ahead of him in the pecking-order.
However, the Scotland Under-21 international will be able to learn from Trippier and is viewed as his potential long-term successor at St James’s Park.
With the transfer window now closed until summer, what does Newcastle United’s current strongest team look like?
Here, we take a look at the strongest matchday squad Howe could choose.
What do you think of our picks? Follow us on our social media channels and let us know your thoughts there.
Ashby, meanwhile, will likely have to bide his time before being a regular first-team player with Kieran Trippier ahead of him in the pecking-order.
5. CB: Sven Botman
They were made to wait for the Dutchman, but Newcastle’s patience has been rewarded with some fine form from Botman in a black and white shirt. Photo: PAUL ELLIS
6. LB: Dan Burn
Despite Burn playing out of position, there is very little need for Newcastle to replace him. He offers great balance to the side and is someone they rely on week in and week out. Photo: Stu Forster
7. CM: Sean Longstaff
Longstaff’s brace secured Newcastle’s ticket to Wembley. He has become an important part of the midfield three with his energy and work ethic an integral part of the way Howe wants his side to play. Photo: Stu Forster
8. CM: Bruno Guimaraes
What more needs to be said about Guimaraes? He is the star in this Newcastle United team and fans will hope that remains the case for many seasons to come. Photo: Michael Steele