ASE Technology (NYSE:ASX) Shares Gap Down – Time to Sell?

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped down prior to trading on Tuesday . The stock had previously closed at $39.91, but opened at $37.04. ASE Technology shares last traded at $36.5820, with a volume of 2,213,235 shares changing hands.

Wall Street Analyst Weigh In

ASX has been the topic of several analyst reports. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy”.

ASE Technology Price Performance

The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $39.16 and a 200-day simple moving average of $31.43. The stock has a market cap of $79.44 billion, a price-to-earnings ratio of 41.54 and a beta of 1.71.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%.The company had revenue of $81.66 million during the quarter, compared to analyst estimates of $5.96 billion. As a group, equities research analysts expect that ASE Technology Holding Co., Ltd. will post 1.21 EPS for the current year.

ASE Technology Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, August 7th. Investors of record on Monday, July 6th were given a dividend of $0.4171 per share. This represents a yield of 96.0%. This is an increase from ASE Technology’s previous annual dividend of $0.36. The ex-dividend date of this dividend was Monday, July 6th. ASE Technology’s payout ratio is presently 34.88%.

Institutional Trading of ASE Technology

Hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC bought a new position in shares of ASE Technology during the 2nd quarter worth about $33,000. Bessemer Group Inc. lifted its stake in shares of ASE Technology by 135.4% in the first quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 827 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 valued at $29,000 after buying an additional 1,809 shares during the period. UMB Bank n.a. acquired a new stake in ASE Technology during the fourth quarter worth about $32,000. Finally, Eastern Bank acquired a new stake in ASE Technology during the second quarter worth about $95,000. 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.