ASE Technology (NYSE:ASX) Stock Price Up 6.5% – What’s Next?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price shot up 6.5% on Thursday . The stock traded as high as $19.95 and last traded at $20.2190. 6,557,153 shares were traded during mid-day trading, a decline of 17% from the average session volume of 7,922,279 shares. The stock had previously closed at $18.99.

Analyst Ratings Changes

Several analysts have commented on the company. Zacks Research downgraded ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Wall Street Zen downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a report on Sunday, January 4th. Nomura raised ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ASE Technology currently has an average rating of “Hold”.

ASE Technology Stock Up 6.4%

The company has a market capitalization of $44.82 billion, a price-to-earnings ratio of 40.50, a P/E/G ratio of 0.78 and a beta of 1.48. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $17.09 and a two-hundred day moving average price of $13.65.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, February 12th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.01 by $0.10. The company had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.47 billion. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. As a group, sell-side analysts expect that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings 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 purchasing an additional 846,300 shares during the period. UBS Group AG grew its position in shares of ASE Technology by 11.4% during the 4th quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company’s stock valued at $145,517,000 after buying an additional 922,692 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in ASE Technology by 50.9% in the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock worth $76,361,000 after acquiring an additional 2,491,918 shares during the last quarter. Schroder Investment Management Group boosted its stake in ASE Technology by 38.4% in the third 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 during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of ASE Technology by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock valued at $50,591,000 after purchasing an additional 780,651 shares during 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.