ASE Technology (NYSE:ASX) Shares Pass Above 200 Day Moving Average – What’s Next?

ASE Technology Holding Co., Ltd. (NYSE:ASX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.18 and traded as high as $10.23. ASE Technology shares last traded at $10.07, with a volume of 8,563,371 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ASX shares. StockNews.com lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley raised shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a report on Monday, September 16th. Finally, UBS Group raised ASE Technology from a “neutral” rating to a “buy” rating in a report on Tuesday, October 15th.

ASE Technology Trading Down 0.5 %

The company has a market cap of $21.99 billion, a PE ratio of 22.27, a P/E/G ratio of 0.71 and a beta of 1.21. The stock’s 50 day moving average is $9.94 and its 200-day moving average is $10.17. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.38.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $4.96 billion for the quarter. ASE Technology had a net margin of 5.47% and a return on equity of 10.05%. During the same quarter in the prior year, the company posted $0.13 earnings per share. As a group, sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.48 EPS for the current year.

Institutional Investors Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of ASE Technology during the second quarter worth approximately $43,000. Wilmington Savings Fund Society FSB purchased a new position in ASE Technology during the 3rd quarter worth $77,000. Werba Rubin Papier Wealth Management bought a new stake in ASE Technology during the 3rd quarter valued at $100,000. Leo Wealth LLC purchased a new stake in shares of ASE Technology in the 3rd quarter worth $114,000. Finally, D Orazio & Associates Inc. bought a new position in shares of ASE Technology during the 2nd quarter worth $126,000. Institutional investors own 6.80% of the company’s stock.

About ASE Technology

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.