ASE Technology (NYSE:ASX) Shares Gap Down to $10.19

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped down before the market opened on Monday . The stock had previously closed at $10.19, but opened at $9.88. ASE Technology shares last traded at $9.94, with a volume of 415,731 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ASX shares. StockNews.com cut shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday, September 16th.

ASE Technology Trading Down 4.0 %

The company has a market capitalization of $21.44 billion, a P/E ratio of 21.41, a P/E/G ratio of 0.66 and a beta of 1.22. The stock has a 50 day moving average of $9.75 and a 200-day moving average of $10.57. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $4.33 billion during the quarter. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. During the same quarter in the previous year, the company earned $0.12 earnings per share. On average, research analysts predict that ASE Technology Holding Co., Ltd. will post 0.51 EPS for the current year.

Institutional Investors Weigh In On ASE Technology

A number of institutional investors have recently bought and sold shares of ASX. Sanctuary Advisors LLC bought a new position in shares of ASE Technology in the second quarter worth about $1,901,000. Creative Planning lifted its holdings in ASE Technology by 376.7% in the 2nd quarter. Creative Planning now owns 121,125 shares of the semiconductor company’s stock worth $1,383,000 after purchasing an additional 95,714 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in ASE Technology by 105.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company’s stock worth $11,215,000 after purchasing an additional 503,765 shares during the period. Earnest Partners LLC grew its holdings in ASE Technology by 10.4% during the 2nd quarter. Earnest Partners LLC now owns 2,840,090 shares of the semiconductor company’s stock valued at $32,434,000 after buying an additional 266,991 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of ASE Technology by 528.5% during the second quarter. Squarepoint Ops LLC now owns 478,766 shares of the semiconductor company’s stock valued at $5,468,000 after buying an additional 402,585 shares during the last quarter. Hedge funds and other 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.