ASE Technology (NYSE:ASX) Shares Gap Down to $11.33

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $11.33, but opened at $10.99. ASE Technology shares last traded at $10.95, with a volume of 1,695,966 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley lowered ASE Technology from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 25th. StockNews.com upgraded ASE Technology from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th.

ASE Technology Stock Performance

The stock has a market capitalization of $24.62 billion, a P/E ratio of 24.41, a P/E/G ratio of 0.62 and a beta of 1.21. The company’s fifty day simple moving average is $10.93 and its 200 day simple moving average is $10.27. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $4.24 billion for the quarter. ASE Technology had a net margin of 5.41% and a return on equity of 10.09%. During the same period last year, the company earned $0.09 earnings per share. As a group, sell-side analysts forecast that ASE Technology Holding Co., Ltd. will post 0.62 earnings per share for the current fiscal year.

ASE Technology Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, August 2nd. Stockholders of record on Tuesday, July 2nd will be issued a dividend of $0.3209 per share. This represents a dividend yield of 2.2%. The ex-dividend date is Tuesday, July 2nd. ASE Technology’s payout ratio is 50.00%.

Institutional Investors Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ASX. Bleakley Financial Group LLC increased its stake in ASE Technology by 4.5% in the 4th quarter. Bleakley Financial Group LLC now owns 31,170 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 1,353 shares during the period. Simplicity Solutions LLC raised its holdings in ASE Technology by 4.5% during the 4th quarter. Simplicity Solutions LLC now owns 31,170 shares of the semiconductor company’s stock valued at $293,000 after buying an additional 1,353 shares during the last quarter. Claro Advisors LLC boosted its position in ASE Technology by 4.2% during the 1st quarter. Claro Advisors LLC now owns 37,798 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 1,529 shares during the period. Caprock Group LLC grew its holdings in ASE Technology by 2.9% in the 4th quarter. Caprock Group LLC now owns 57,308 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 1,615 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of ASE Technology by 4.7% in the first quarter. Atomi Financial Group Inc. now owns 37,579 shares of the semiconductor company’s stock valued at $413,000 after acquiring an additional 1,701 shares during the period. 6.80% of the stock is owned by hedge funds and other institutional investors.

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.