ASE Technology Holding Co., Ltd. (NYSE:ASX) Short Interest Down 43.4% in May

ASE Technology Holding Co., Ltd. (NYSE:ASX) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 9,129,449 shares, a drop of 43.4% from the May 14th total of 16,115,984 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 10,173,062 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of ASE Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in ASE Technology by 15.6% during the third quarter. American Century Companies Inc. now owns 3,674,784 shares of the semiconductor company’s stock worth $40,753,000 after acquiring an additional 494,569 shares during the last quarter. Capula Management Ltd boosted its position in ASE Technology by 200.4% during the third quarter. Capula Management Ltd now owns 650,494 shares of the semiconductor company’s stock worth $7,214,000 after acquiring an additional 433,965 shares during the last quarter. JPMorgan Chase & Co. boosted its position in ASE Technology by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company’s stock worth $32,814,000 after acquiring an additional 1,057,046 shares during the last quarter. Schroder Investment Management Group boosted its position in ASE Technology by 38.4% during the third quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock worth $80,787,000 after acquiring an additional 2,012,970 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in ASE Technology during the third quarter worth about $1,422,000. Institutional investors and hedge funds own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ASX shares. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of ASE Technology in a report on Tuesday, June 9th. Finally, Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

ASE Technology Stock Performance

Shares of ASE Technology stock traded down $1.71 during trading on Tuesday, hitting $36.79. 11,829,582 shares of the company’s stock were exchanged, compared to its average volume of 10,885,138. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15. The business has a 50-day simple moving average of $32.72 and a 200-day simple moving average of $24.17. ASE Technology has a 52-week low of $9.30 and a 52-week high of $41.10. The stock has a market capitalization of $81.80 billion, a price-to-earnings ratio of 54.10, a PEG ratio of 0.77 and a beta of 1.72.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. On average, research analysts forecast that ASE Technology will post 1.05 EPS for the current year.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.