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

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $24.84, but opened at $26.01. ASE Technology shares last traded at $26.18, with a volume of 1,500,606 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on ASX. Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of ASE Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

ASE Technology Stock Up 1.1%

The company has a current ratio of 1.26, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $59.56 billion, a P/E ratio of 46.29, a PEG ratio of 1.10 and a beta of 1.46. The stock has a 50 day moving average price of $22.64 and a 200 day moving average price of $17.90.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a net margin of 6.31% and a return on equity of 12.06%. On average, research analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ASX. Nisa Investment Advisors LLC acquired a new stake in shares of ASE Technology in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in ASE Technology by 180,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,809 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in ASE Technology by 1,704.8% in the third quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 2,506 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in ASE Technology in the fourth quarter valued at approximately $32,000. Finally, UMB Bank n.a. bought a new stake in shares of ASE Technology during the fourth quarter valued at approximately $32,000. 6.80% of the stock is owned by institutional investors.

About ASE Technology

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.