ASE Technology (NYSE:ASX) Shares Gap Up – Time to Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price gapped up prior to trading 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 changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on ASX shares. StockNews.com cut shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday, September 16th. Finally, UBS Group upgraded ASE Technology from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 15th.

ASE Technology Price Performance

The company’s 50-day moving average is $9.95 and its 200-day moving average is $10.13. The firm has a market cap of $24.01 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 0.71 and a beta of 1.19. The company has a current ratio of 1.18, a quick ratio of 0.89 and a debt-to-equity ratio of 0.38.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $4.96 billion for the quarter. ASE Technology had a return on equity of 10.05% and a net margin of 5.47%. During the same quarter in the previous year, the company posted $0.13 EPS. Equities research analysts predict that ASE Technology Holding Co., Ltd. will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On ASE Technology

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in ASE Technology during the second quarter worth $43,000. Wilmington Savings Fund Society FSB bought a new stake in shares of ASE Technology during the third quarter worth about $77,000. GAMMA Investing LLC raised its holdings in shares of ASE Technology by 28.0% in the 4th quarter. GAMMA Investing LLC now owns 9,521 shares of the semiconductor company’s stock worth $96,000 after acquiring an additional 2,083 shares during the last quarter. Werba Rubin Papier Wealth Management bought a new position in ASE Technology in the 3rd quarter valued at about $100,000. Finally, Leo Wealth LLC acquired a new position in ASE Technology during the 3rd quarter valued at about $114,000. Institutional investors own 6.80% of the company’s stock.

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.