ASE Technology (NYSE:ASX) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.20 and traded as high as $40.29. ASE Technology shares last traded at $39.92, with a volume of 7,172,006 shares.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ASX. Weiss Ratings raised ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Zacks Research raised ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

ASE Technology Trading Down 1.4%

The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average price is $39.14 and its two-hundred day moving average price is $31.31. The firm has a market cap of $79.83 billion, a PE ratio of 41.66 and a beta of 1.71.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. The firm had revenue of $81.66 million during the quarter, compared to the consensus estimate of $5.96 billion. As a group, sell-side analysts forecast that ASE Technology Holding Co., Ltd. will post 1.21 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, August 7th. Stockholders of record on Monday, July 6th were issued a $0.4171 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a dividend yield of 96.0%. This is an increase from ASE Technology’s previous annual dividend of $0.36. ASE Technology’s payout ratio is 34.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ASX. Caitong International Asset Management Co. Ltd lifted its holdings in ASE Technology by 180,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 1,809 shares during the period. Bessemer Group Inc. grew its stake in shares of ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 827 shares during the period. UMB Bank n.a. acquired a new position in shares of ASE Technology during the 4th quarter worth $32,000. Ancora Advisors LLC purchased a new position in shares of ASE Technology in the 2nd quarter valued at about $33,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of ASE Technology by 256.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.