ASE Technology (NYSE:ASX) Shares Gap Up – Still a Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $10.16, but opened at $10.66. ASE Technology shares last traded at $10.61, with a volume of 759,028 shares trading hands.

Analysts Set New Price Targets

ASX has been the topic of a number of recent research reports. Morgan Stanley raised ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th. StockNews.com cut ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, UBS Group raised ASE Technology from a “neutral” rating to a “buy” rating in a research note on Tuesday.

ASE Technology Stock Up 1.8 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.90. The stock has a market capitalization of $22.76 billion, a P/E ratio of 22.54, a PEG ratio of 0.65 and a beta of 1.22. The stock has a 50 day moving average price of $9.74 and a 200-day moving average price of $10.46.

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

Institutional Trading of ASE Technology

Several large investors have recently modified their holdings of ASX. Acadian Asset Management LLC grew its stake in shares of ASE Technology by 89.7% in the first quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after purchasing an additional 4,664,258 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in ASE Technology by 35.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock worth $36,557,000 after buying an additional 1,009,795 shares during the period. Lazard Asset Management LLC lifted its holdings in ASE Technology by 2.8% in the first quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock worth $234,182,000 after buying an additional 584,333 shares during the period. Driehaus Capital Management LLC lifted its holdings in ASE Technology by 105.3% in the second quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company’s stock worth $11,215,000 after buying an additional 503,765 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in ASE Technology by 528.5% in the second quarter. Squarepoint Ops LLC now owns 478,766 shares of the semiconductor company’s stock worth $5,468,000 after buying an additional 402,585 shares during the period. 6.80% of the stock is owned by institutional investors.

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.