Short Interest in ASE Technology Holding Co., Ltd. (NYSE:ASX) Increases By 6.2%

ASE Technology Holding Co., Ltd. (NYSE:ASX) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 12,320,000 shares, a growth of 6.2% from the August 31st total of 11,600,000 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 8,880,000 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Investors Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ASX. Sanctuary Advisors LLC bought a new position in ASE Technology in the second quarter valued at $1,901,000. Creative Planning lifted its stake in ASE Technology by 376.7% during the second 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 during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Earnest Partners LLC increased its position in shares of 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 purchasing an additional 266,991 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of ASE Technology by 528.5% during the 2nd 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 in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ASX has been the topic of a number of analyst reports. StockNews.com cut shares of ASE Technology from a “buy” rating to a “hold” rating in a report 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 Price Performance

Shares of ASX traded down $0.17 during mid-day trading on Tuesday, reaching $9.59. 6,691,770 shares of the stock traded hands, compared to its average volume of 6,917,091. The company has a market cap of $21.02 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 0.66 and a beta of 1.22. ASE Technology has a 1 year low of $7.33 and a 1 year high of $12.86. The firm has a fifty day moving average price of $9.73 and a 200 day moving average price of $10.56. 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 announced its 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 for the quarter. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. During the same quarter in the prior year, the company earned $0.12 earnings per share. As a group, equities research analysts predict that ASE Technology will post 0.51 earnings per share for the current year.

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.