ASE Technology (NYSE:ASX) Stock Sees Unusually High Call Option Buying

ASE Technology Holding Co., Ltd. (NYSE:ASX) saw unusually large options trading on Monday. Traders acquired 59,925 call options on the stock. This is an increase of 657% compared to the average daily volume of 7,912 call options.

Institutional Trading of ASE Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in ASE Technology by 135.4% during the first quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 827 shares in the last quarter. Ancora Advisors LLC acquired a new position in ASE Technology during the second quarter valued at approximately $33,000. Curry Webb Wealth Management LLC bought a new position in ASE Technology in the third quarter valued at approximately $40,000. IFP Advisors Inc grew its stake in ASE Technology by 107.7% in the second quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 491 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in ASE Technology in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ASX shares. Zacks Research raised ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, ASE Technology has a consensus rating of “Strong Buy”.

ASE Technology Stock Up 8.2%

ASE Technology stock traded up $2.61 during mid-day trading on Monday, reaching $34.24. The company’s stock had a trading volume of 4,561,414 shares, compared to its average volume of 8,688,019. The company has a market capitalization of $76.53 billion, a price-to-earnings ratio of 32.05 and a beta of 1.79. ASE Technology has a 12 month low of $13.35 and a 12 month high of $47.93. The business’s 50 day simple moving average is $41.30 and its 200 day simple moving average is $33.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.88 and a current ratio of 1.16.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. ASE Technology had a net margin of 9.77% and a return on equity of 18.97%. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.30 billion. As a group, research analysts anticipate that ASE Technology will post 1.31 earnings per share for the current year.

ASE Technology Company Profile

ASE Technology Holding Co provides semiconductor packaging and testing services, as well as electronics manufacturing services. Its semiconductor offerings include advanced packaging, wafer bumping and testing, which help customers assemble and validate chips for use in electronic devices.

The company also provides electronics design and manufacturing services through Universal Scientific Industrial, serving customers across industries such as communications, computing, automotive and consumer electronics.

ASE Technology was formed in 2018 through the combination of Advanced Semiconductor Engineering and Siliconware Precision Industries.