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

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped up before the market opened on Tuesday . The stock had previously closed at $10.64, but opened at $11.08. ASE Technology shares last traded at $11.02, with a volume of 410,207 shares trading hands.

Analyst Upgrades and Downgrades

ASX has been the topic of several research reports. Morgan Stanley upgraded shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday, September 16th. StockNews.com downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, UBS Group upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a report on Tuesday, October 15th.

ASE Technology Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.89. The firm has a market capitalization of $23.62 billion, a PE ratio of 23.91, a P/E/G ratio of 0.71 and a beta of 1.19. The firm has a fifty day moving average price of $9.96 and a 200 day moving average price of $10.13.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). ASE Technology had a net margin of 5.47% and a return on equity of 10.05%. The firm had revenue of $4.96 billion for the quarter. During the same period in the previous year, the company earned $0.13 earnings per share. Research analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of ASE Technology

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of ASE Technology by 585.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 109,813 shares of the semiconductor company’s stock valued at $1,072,000 after buying an additional 93,790 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of ASE Technology in the 2nd quarter valued at about $1,901,000. OneDigital Investment Advisors LLC increased its holdings in shares of ASE Technology by 16.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 17,193 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 2,431 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of ASE Technology by 103.8% during the third quarter. JPMorgan Chase & Co. now owns 3,571,208 shares of the semiconductor company’s stock worth $34,855,000 after purchasing an additional 1,818,753 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in ASE Technology by 12.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 544,797 shares of the semiconductor company’s stock valued at $6,222,000 after buying an additional 61,992 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

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.