ASE Technology Holding Co., Ltd. (NYSE:ASX) Sees Significant Decline in Short Interest

ASE Technology Holding Co., Ltd. (NYSE:ASX) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 10,130,000 shares, a decline of 6.0% from the November 30th total of 10,780,000 shares. Based on an average daily trading volume, of 6,820,000 shares, the short-interest ratio is currently 1.5 days. Currently, 0.5% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ASX shares. StockNews.com lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. UBS Group raised ASE Technology from a “neutral” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th.

ASE Technology Price Performance

NYSE ASX opened at $10.07 on Thursday. The company has a 50-day moving average price of $9.94 and a two-hundred day moving average price of $10.17. ASE Technology has a 52 week low of $8.10 and a 52 week high of $12.86. The stock has a market cap of $22.10 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. The company has a current ratio of 1.18, a quick ratio of 0.89 and a debt-to-equity ratio of 0.38.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). ASE Technology had a net margin of 5.47% and a return on equity of 10.05%. The business had revenue of $4.96 billion for the quarter. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Analysts forecast that ASE Technology will post 0.48 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ASX. Ashton Thomas Private Wealth LLC bought a new stake in shares of ASE Technology during the 2nd quarter worth about $43,000. Wilmington Savings Fund Society FSB bought a new stake in shares of ASE Technology in the 3rd quarter worth $77,000. Werba Rubin Papier Wealth Management bought a new position in shares of ASE Technology during the 3rd quarter valued at about $100,000. Leo Wealth LLC bought a new position in shares of ASE Technology in the third quarter valued at $114,000. Finally, D Orazio & Associates Inc. purchased a new stake in shares of ASE Technology during the second quarter valued at $126,000. Institutional investors own 6.80% of the company’s stock.

ASE Technology Company Profile

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.