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

ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped up before the market opened on Tuesday. The stock had previously closed at $34.36, but opened at $35.87. ASE Technology shares last traded at $35.6280, with a volume of 4,544,264 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings lowered shares of ASE Technology from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

ASE Technology Trading Up 6.6%

The company has a market cap of $84.51 billion, a price-to-earnings ratio of 35.33 and a beta of 1.79. The firm has a 50-day moving average price of $41.21 and a 200 day moving average price of $33.87. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.70.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, October 29th. The semiconductor company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.03. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.30 billion. ASE Technology had a net margin of 9.77% and a return on equity of 18.97%. As a group, sell-side analysts forecast that ASE Technology Holding Co., Ltd. will post 1.31 EPS for the current year.

Institutional Trading of ASE Technology

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in shares of ASE Technology in the 3rd quarter worth $1,467,000. Private Advisor Group LLC acquired a new stake in shares of ASE Technology in the third quarter valued at $613,000. Independent Advisor Alliance bought a new position in ASE Technology during the third quarter valued at about $279,000. OneAscent Family Office LLC boosted its stake in ASE Technology by 42.7% during the third quarter. OneAscent Family Office LLC now owns 10,510 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 3,144 shares in the last quarter. Finally, Composition Wealth LLC grew its holdings in ASE Technology by 20.4% during the third quarter. Composition Wealth LLC now owns 15,630 shares of the semiconductor company’s stock worth $695,000 after acquiring an additional 2,643 shares during the period. 6.80% of the stock is currently owned by institutional investors and hedge funds.

About ASE Technology

ASE Technology Holding Co. provides semiconductor packaging and testing services, as well as electronics manufacturing services. Its semiconductor offerings include advanced packaging, wafer bumping and testing, which help customers assemble and validate chips for use in electronic devices. The company also provides electronics design and manufacturing services through Universal Scientific Industrial, serving customers across industries such as communications, computing, automotive and consumer electronics.