ASE Technology (NYSE:ASX) Shares Gap Up – Time to Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $15.72, but opened at $16.16. ASE Technology shares last traded at $16.1620, with a volume of 1,219,641 shares.

Analysts Set New Price Targets

ASX has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Nomura Securities upgraded shares of ASE Technology to a “strong-buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, ASE Technology has an average rating of “Buy”.

ASE Technology Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a fifty day simple moving average of $14.82 and a 200 day simple moving average of $12.09. The company has a market capitalization of $35.63 billion, a PE ratio of 32.13, a P/E/G ratio of 0.91 and a beta of 1.46.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. Equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in shares of ASE Technology by 35.0% in the 1st quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company’s stock valued at $96,110,000 after purchasing an additional 2,842,631 shares in the last quarter. Bank of America Corp DE raised its stake in ASE Technology by 9.6% in the third quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company’s stock worth $107,146,000 after buying an additional 846,300 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in ASE Technology by 50.9% during the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock worth $76,361,000 after buying an additional 2,491,918 shares during the period. Schroder Investment Management Group boosted its position in ASE Technology by 38.4% during the 3rd quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock valued at $80,787,000 after acquiring an additional 2,012,970 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of ASE Technology by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock valued at $50,591,000 after acquiring an additional 780,651 shares during the period. Hedge funds and other institutional investors 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.