ASE Technology (NYSE:ASX) Shares Gap Down – Should You Sell?

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped down before the market opened on Monday . The stock had previously closed at $33.81, but opened at $32.25. ASE Technology shares last traded at $31.6950, with a volume of 1,535,320 shares trading hands.

Analyst Ratings Changes

Several analysts recently weighed in on ASX shares. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

ASE Technology Trading Down 7.0%

The stock has a market cap of $69.94 billion, a P/E ratio of 46.26, a price-to-earnings-growth ratio of 0.68 and a beta of 1.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15. The firm’s fifty day simple moving average is $26.30 and its 200-day simple moving average is $20.83.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Equities research analysts expect that ASE Technology Holding Co., Ltd. will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASX. Nisa Investment Advisors LLC bought a new stake in ASE Technology in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock worth $29,000 after buying an additional 1,809 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of ASE Technology by 1,704.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 2,506 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 827 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in shares of ASE Technology during the 4th quarter valued at $32,000. 6.80% of the stock is owned by institutional investors.

ASE Technology Company Profile

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.