ASE Technology (NYSE:ASX) Trading 4.1% Higher – Here’s What Happened

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares were up 4.1% during mid-day trading on Thursday . The stock traded as high as $10.82 and last traded at $10.80. Approximately 286,830 shares changed hands during trading, a decline of 96% from the average daily volume of 6,836,360 shares. The stock had previously closed at $10.37.

Wall Street Analyst Weigh In

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

ASE Technology Stock Down 3.3 %

The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $9.82 and a two-hundred day simple moving average of $10.46. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 0.65 and a beta of 1.22.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The business had revenue of $4.33 billion for the quarter. During the same period in the prior year, the firm earned $0.12 EPS. Equities analysts expect that ASE Technology Holding Co., Ltd. will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in ASE Technology by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 16,023 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 1,046 shares during the period. Beverly Hills Private Wealth LLC raised its stake in ASE Technology by 5.4% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 22,195 shares of the semiconductor company’s stock worth $253,000 after buying an additional 1,130 shares during the period. Atomi Financial Group Inc. raised its stake in ASE Technology by 3.6% during the 2nd quarter. Atomi Financial Group Inc. now owns 38,924 shares of the semiconductor company’s stock worth $445,000 after buying an additional 1,345 shares during the period. Claro Advisors LLC lifted its holdings in ASE Technology by 4.2% during the first quarter. Claro Advisors LLC now owns 37,798 shares of the semiconductor company’s stock worth $415,000 after acquiring an additional 1,529 shares in the last quarter. Finally, First Affirmative Financial Network grew its stake in ASE Technology by 13.7% in the third quarter. First Affirmative Financial Network now owns 15,330 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 1,851 shares during the period. 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.