ASE Technology (NYSE:ASX) Shares Gap Down – Here’s What Happened

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped down prior to trading on Thursday. The stock had previously closed at $44.33, but opened at $41.54. ASE Technology shares last traded at $41.0680, with a volume of 3,245,869 shares traded.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ASX shares. Weiss Ratings raised ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Wall Street Zen downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, ASE Technology presently has an average rating of “Buy”.

ASE Technology Stock Performance

The stock’s fifty day moving average is $40.89 and its two-hundred day moving average is $37.00. The firm has a market capitalization of $88.34 billion, a price-to-earnings ratio of 45.95 and a beta of 1.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.07.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. The company had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. Analysts forecast that ASE Technology Holding Co., Ltd. will post 1.26 earnings per share for the current year.

Institutional Trading of ASE Technology

Several large investors have recently added to or reduced their stakes in ASX. Hsbc Holdings PLC grew its position in ASE Technology by 7.5% in the 1st quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company’s stock valued at $43,654,000 after buying an additional 140,628 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of ASE Technology by 591.1% during the third quarter. Ninety One UK Ltd now owns 688,777 shares of the semiconductor company’s stock valued at $30,623,000 after acquiring an additional 589,119 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of ASE Technology by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,399,553 shares of the semiconductor company’s stock valued at $30,342,000 after purchasing an additional 125,324 shares in the last quarter. Ninety One North America Inc. grew its stake in ASE Technology by 9.7% during the 3rd quarter. Ninety One North America Inc. now owns 498,331 shares of the semiconductor company’s stock valued at $22,156,000 after acquiring an additional 44,110 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of ASE Technology by 12.1% during the 1st quarter. Sei Investments Co. now owns 812,019 shares of the semiconductor company’s stock valued at $17,604,000 after acquiring an additional 87,689 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors and hedge funds.

About ASE Technology

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and testing (OSAT) services, helping chip manufacturers package and test integrated circuits before they are incorporated into electronic products.

Its services include wafer probing, wafer bumping, flip-chip and wire-bond packaging, system-in-package and other advanced packaging technologies, as well as final testing and related engineering services.