ASE Technology (NYSE:ASX) Shares Gap Up – Still a Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $10.16, but opened at $10.66. ASE Technology shares last traded at $10.61, with a volume of 759,028 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on ASX shares. UBS Group upgraded ASE Technology from a “neutral” rating to a “buy” rating in a research report on Tuesday. StockNews.com downgraded ASE Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday, September 16th.

ASE Technology Trading Up 1.8 %

The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. The stock has a market cap of $22.76 billion, a PE ratio of 22.54, a P/E/G ratio of 0.65 and a beta of 1.22. The firm has a 50-day simple moving average of $9.74 and a 200-day simple moving average of $10.46.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The company had revenue of $4.33 billion for the quarter. During the same quarter last year, the business posted $0.12 EPS. Equities analysts forecast that ASE Technology Holding Co., Ltd. will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On ASE Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC increased its stake in ASE Technology by 2.8% in the first quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock valued at $234,182,000 after acquiring an additional 584,333 shares during the last quarter. Acadian Asset Management LLC increased its stake in ASE Technology by 89.7% in the first quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock valued at $108,364,000 after acquiring an additional 4,664,258 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in ASE Technology by 35.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock valued at $36,557,000 after acquiring an additional 1,009,795 shares during the last quarter. Earnest Partners LLC increased its stake in ASE Technology by 10.4% in the second quarter. Earnest Partners LLC now owns 2,840,090 shares of the semiconductor company’s stock valued at $32,434,000 after acquiring an additional 266,991 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in ASE Technology by 3.4% in the second quarter. American Century Companies Inc. now owns 1,939,422 shares of the semiconductor company’s stock valued at $22,148,000 after acquiring an additional 63,237 shares during the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.