ASE Technology Holding Co., Ltd. (NYSE:ASX – Get Free Report)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $37.51, but opened at $33.90. ASE Technology shares last traded at $32.4110, with a volume of 2,615,746 shares changing hands.
Analysts Set New Price Targets
A number of research firms have weighed in on ASX. Weiss Ratings upgraded shares of ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Zacks Research upgraded ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, ASE Technology currently has a consensus rating of “Strong Buy”.
Read Our Latest Analysis on ASX
ASE Technology Stock Down 18.3%
The stock has a market cap of $68.48 billion, a PE ratio of 28.56 and a beta of 1.79. The business has a fifty day moving average of $41.59 and a 200-day moving average of $33.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.16 and a quick ratio of 0.88.
ASE Technology (NYSE:ASX – Get Free Report) last issued its earnings results on Thursday, October 29th. The semiconductor company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. ASE Technology had a return on equity of 18.97% and a net margin of 9.77%. The business had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.30 billion. Equities research analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.31 earnings per share for the current year.
Institutional Trading of ASE Technology
A number of hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its position in ASE Technology by 7.5% during the 1st quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company’s stock valued at $43,654,000 after purchasing an additional 140,628 shares during the period. Ninety One UK Ltd raised its holdings in shares of ASE Technology by 591.1% in the 3rd quarter. Ninety One UK Ltd now owns 688,777 shares of the semiconductor company’s stock valued at $30,623,000 after purchasing an additional 589,119 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ASE Technology by 9.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,399,553 shares of the semiconductor company’s stock worth $30,342,000 after purchasing an additional 125,324 shares during the period. Ninety One North America Inc. lifted its position in shares of ASE Technology by 9.7% in the 3rd quarter. Ninety One North America Inc. now owns 498,331 shares of the semiconductor company’s stock worth $22,156,000 after purchasing an additional 44,110 shares during the period. Finally, Ethic Inc. boosted its stake in shares of ASE Technology by 3.9% during the third quarter. Ethic Inc. now owns 412,326 shares of the semiconductor company’s stock valued at $18,332,000 after purchasing an additional 15,545 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.
ASE Technology Company Profile
ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and test services, helping chip designers and manufacturers package, assemble and evaluate integrated circuits after wafer fabrication.
Its services include wafer probing, wafer bumping, semiconductor packaging, final testing and advanced packaging technologies such as flip-chip, system-in-package and fan-out solutions.
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