ASE Technology (NYSE:ASX) Shares Gap Up – Here’s What Happened

ASE Technology Holding Co., Ltd. (NYSE:ASXGet Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $10.16, but opened at $10.66. ASE Technology shares last traded at $10.61, with a volume of 759,028 shares traded.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on ASX

ASE Technology Stock Performance

The firm has a market cap of $22.58 billion, a PE ratio of 22.09, a PEG ratio of 0.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.17. The firm’s 50 day moving average price is $9.71 and its two-hundred day moving average price is $10.47.

ASE Technology (NYSE:ASXGet Free Report) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The company 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 firm earned $0.12 EPS. On average, research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On ASE Technology

A number of hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new position in ASE Technology in the second quarter valued at $43,000. Fifth Third Bancorp boosted its stake in shares of ASE Technology by 423.8% in the 2nd quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 5,289 shares during the period. Burns Matteson Capital Management LLC acquired a new position in shares of ASE Technology during the first quarter worth about $107,000. Cetera Advisors LLC purchased a new stake in shares of ASE Technology during the first quarter worth approximately $120,000. Finally, D Orazio & Associates Inc. acquired a new stake in ASE Technology in the second quarter valued at approximately $126,000. Hedge funds and other institutional investors own 6.80% of the company’s stock.

ASE Technology Company Profile

(Get Free Report)

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.

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